VIRGINIA RETIREMENT SYSTEMS ET Al Acquires New Shares in Jones Lang LaSalle Incorporated $JLL

Key Points

• Virginia Retirement Systems acquired 3,710 shares of Jones Lang LaSalle worth approximately $1.15 million, while institutional investors collectively own 94.8% of the company.
• Analysts maintain a generally positive outlook, with JLL holding a consensus “Moderate Buy” rating and an average price target of $433.60; targets range from $401 to $500.
• JLL reported stronger-than-expected quarterly results, with EPS of $5.26 versus estimates of $4.56 and revenue of $6.93 billion, up 10.8% year over year.

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Jones Lang LaSalle Incorporated (NYSE:JLL - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 3,710 shares of the financial services provider's stock, valued at approximately $1,150,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Sunbelt Securities Inc. bought a new position in shares of Jones Lang LaSalle in the third quarter valued at approximately $25,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Jones Lang LaSalle during the 2nd quarter worth approximately $26,000. International Assets Investment Management LLC bought a new stake in Jones Lang LaSalle during the 4th quarter worth approximately $29,000. Johnson Financial Group Inc. purchased a new stake in Jones Lang LaSalle in the 2nd quarter worth approximately $34,000. Finally, Hilton Head Capital Partners LLC bought a new position in Jones Lang LaSalle in the 4th quarter valued at $35,000. 94.80% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Jones Lang LaSalle

In related news, CEO Christian Ulbrich sold 2,000 shares of the business's stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $385.53, for a total value of $771,060.00. Following the completion of the sale, the chief executive officer owned 138,418 shares in the company, valued at $53,364,291.54. The trade was a 1.42% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 6,000 shares of company stock worth $2,271,060. Company insiders own 0.91% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on JLL. Zacks Research cut shares of Jones Lang LaSalle from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 23rd. Weiss Ratings raised Jones Lang LaSalle from a "buy (b-)" rating to a "buy (b)" rating in a research note on Tuesday, August 18th. Keefe, Bruyette & Woods boosted their target price on Jones Lang LaSalle from $375.00 to $415.00 and gave the stock an "outperform" rating in a research report on Monday, August 3rd. Barclays raised their price target on Jones Lang LaSalle from $368.00 to $401.00 and gave the company an "equal weight" rating in a report on Monday, August 17th. Finally, Raymond James Financial reissued a "strong-buy" rating and set a $500.00 price objective on shares of Jones Lang LaSalle in a report on Thursday, July 30th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $433.60.

Jones Lang LaSalle Stock Performance

NYSE JLL opened at $347.07 on Friday. Jones Lang LaSalle Incorporated has a 52-week low of $259.83 and a 52-week high of $393.84. The company has a fifty day moving average of $353.01 and a 200-day moving average of $324.02. The company has a market capitalization of $15.97 billion, a P/E ratio of 16.63 and a beta of 1.24. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.40 and a current ratio of 2.40.

Jones Lang LaSalle (NYSE:JLL - Get Free Report) last released its earnings results on Thursday, July 30th. The financial services provider reported $5.26 EPS for the quarter, beating analysts' consensus estimates of $4.56 by $0.70. Jones Lang LaSalle had a return on equity of 13.99% and a net margin of 3.64%.The business had revenue of $6.93 billion for the quarter, compared to analysts' expectations of $6.88 billion. During the same quarter in the prior year, the firm earned $3.30 earnings per share. The firm's revenue was up 10.8% on a year-over-year basis. As a group, equities research analysts predict that Jones Lang LaSalle Incorporated will post 25.05 EPS for the current fiscal year.

About Jones Lang LaSalle

Jones Lang LaSalle Incorporated NYSE: JLL, operating under the JLL brand, is a global commercial real estate services and investment management company. It advises property owners, occupiers, investors and developers across the real estate lifecycle, with services that include leasing, capital markets, investment sales and acquisitions, valuation and advisory, research, development consulting, and property and facilities management.

JLL also provides project and development management, workplace strategy, sustainability consulting, and technology-enabled real estate solutions.

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