Zurich Insurance Group Ltd FI Takes Position in Jones Lang LaSalle Incorporated $JLL

Key Points

• Zurich Insurance Group Ltd FI recently made a new investment of approximately $21.82 million in Jones Lang LaSalle Incorporated, acquiring 88,009 shares, which represents about 0.19% of the company.
• Jones Lang LaSalle's CEO, Andrew W. Poppink, sold 275 shares at an average price of $237.97, decreasing their ownership and signaling a potential shift in sentiment.
• Jones Lang LaSalle has been receiving positive analyst attention, with upgraded price targets and ratings, including a new target of $378.00 from Goldman Sachs, indicating strong market confidence in the firm.

Zurich Insurance Group Ltd FI bought a new position in shares of Jones Lang LaSalle Incorporated (NYSE:JLL - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm bought 88,009 shares of the financial services provider's stock, valued at approximately $21,818,000. Zurich Insurance Group Ltd FI owned 0.19% of Jones Lang LaSalle as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Empowered Funds LLC grew its holdings in Jones Lang LaSalle by 203.1% in the 1st quarter. Empowered Funds LLC now owns 4,046 shares of the financial services provider's stock valued at $1,003,000 after buying an additional 2,711 shares in the last quarter. United Services Automobile Association bought a new stake in shares of Jones Lang LaSalle during the 1st quarter worth $775,000. Caxton Associates LLP bought a new stake in shares of Jones Lang LaSalle during the 1st quarter worth $2,314,000. Select Equity Group L.P. lifted its position in shares of Jones Lang LaSalle by 50.7% during the 1st quarter. Select Equity Group L.P. now owns 1,062,069 shares of the financial services provider's stock worth $263,298,000 after buying an additional 357,469 shares during the last quarter. Finally, Integrated Wealth Concepts LLC bought a new position in Jones Lang LaSalle in the first quarter valued at about $546,000. Institutional investors own 94.80% of the company's stock.

Insider Buying and Selling at Jones Lang LaSalle

In related news, CEO Andrew W. Poppink sold 275 shares of the business's stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $237.97, for a total transaction of $65,441.75. Following the completion of the transaction, the chief executive officer directly owned 10,297 shares in the company, valued at $2,450,377.09. The trade was a 2.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.91% of the company's stock.

Jones Lang LaSalle Stock Performance

Jones Lang LaSalle stock traded up $2.08 during mid-day trading on Monday, reaching $314.45. 158,125 shares of the company's stock were exchanged, compared to its average volume of 406,004. The business's fifty day simple moving average is $282.09 and its 200 day simple moving average is $252.00. The firm has a market capitalization of $14.90 billion, a PE ratio of 27.04 and a beta of 1.41. Jones Lang LaSalle Incorporated has a one year low of $194.36 and a one year high of $316.79. The company has a quick ratio of 2.35, a current ratio of 2.35 and a debt-to-equity ratio of 0.16.

Jones Lang LaSalle (NYSE:JLL - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The financial services provider reported $3.30 EPS for the quarter, topping analysts' consensus estimates of $3.20 by $0.10. The business had revenue of $6.25 billion for the quarter, compared to analyst estimates of $6.17 billion. Jones Lang LaSalle had a return on equity of 10.63% and a net margin of 2.28%.Jones Lang LaSalle's quarterly revenue was up 11.0% compared to the same quarter last year. During the same period last year, the company posted $2.55 earnings per share. On average, sell-side analysts expect that Jones Lang LaSalle Incorporated will post 16.45 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on JLL shares. UBS Group raised their price objective on Jones Lang LaSalle from $305.00 to $340.00 and gave the stock a "buy" rating in a research report on Wednesday, July 2nd. Wall Street Zen upgraded Jones Lang LaSalle from a "hold" rating to a "buy" rating in a research report on Sunday, August 31st. JPMorgan Chase & Co. raised their price objective on Jones Lang LaSalle from $285.00 to $372.00 and gave the stock an "overweight" rating in a research report on Tuesday, August 26th. Keefe, Bruyette & Woods raised their price objective on Jones Lang LaSalle from $280.00 to $297.00 and gave the stock an "outperform" rating in a research report on Thursday, July 24th. Finally, Citigroup decreased their target price on Jones Lang LaSalle from $275.00 to $240.00 and set a "neutral" rating for the company in a research note on Wednesday, May 28th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $328.57.

About Jones Lang LaSalle

Jones Lang LaSalle Incorporated operates as a commercial real estate and investment management company. It engages in the buying, building, occupying, managing, and investing in a commercial, industrial, hotel, residential, and retail properties in Americas, Europe, the Middle East, Africa, and the Asia Pacific.