Millennium Management LLC increased its stake in Jones Lang LaSalle Inc (NYSE:JLL) by 490.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 178,070 shares of the financial services provider’s stock after acquiring an additional 147,934 shares during the quarter. Millennium Management LLC owned about 0.35% of Jones Lang LaSalle worth $24,762,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in the stock. BlackRock Inc. raised its position in shares of Jones Lang LaSalle by 1.5% in the 2nd quarter. BlackRock Inc. now owns 4,927,254 shares of the financial services provider’s stock worth $693,216,000 after acquiring an additional 72,862 shares in the last quarter. Generation Investment Management LLP grew its stake in Jones Lang LaSalle by 12.1% during the third quarter. Generation Investment Management LLP now owns 4,775,096 shares of the financial services provider’s stock worth $664,025,000 after purchasing an additional 516,830 shares during the period. State Street Corp grew its stake in Jones Lang LaSalle by 8.2% during the third quarter. State Street Corp now owns 1,749,334 shares of the financial services provider’s stock worth $243,262,000 after purchasing an additional 132,176 shares during the period. Atlanta Capital Management Co. L L C increased its holdings in Jones Lang LaSalle by 1.2% in the second quarter. Atlanta Capital Management Co. L L C now owns 1,415,199 shares of the financial services provider’s stock worth $199,104,000 after purchasing an additional 16,627 shares in the last quarter. Finally, Fort Washington Investment Advisors Inc. OH increased its holdings in Jones Lang LaSalle by 3.2% in the second quarter. Fort Washington Investment Advisors Inc. OH now owns 845,097 shares of the financial services provider’s stock worth $118,897,000 after purchasing an additional 26,343 shares in the last quarter. Institutional investors and hedge funds own 89.85% of the company’s stock.
A number of equities analysts have issued reports on the company. Barclays set a $179.00 price target on Jones Lang LaSalle and gave the stock a “buy” rating in a report on Friday, October 11th. Bank of America assumed coverage on shares of Jones Lang LaSalle in a research report on Tuesday, November 26th. They set a “neutral” rating and a $175.00 price objective for the company. Finally, UBS Group lifted their price objective on shares of Jones Lang LaSalle from $175.00 to $178.00 and gave the company a “buy” rating in a research note on Monday, August 12th. One analyst has rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $178.15.
Shares of Jones Lang LaSalle stock opened at $165.96 on Tuesday. Jones Lang LaSalle Inc has a one year low of $119.79 and a one year high of $173.32. The firm has a market capitalization of $8.57 billion, a price-to-earnings ratio of 13.55 and a beta of 1.77. The business has a 50-day simple moving average of $155.65 and a 200 day simple moving average of $141.31. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.05 and a quick ratio of 2.05.
Jones Lang LaSalle (NYSE:JLL) last posted its quarterly earnings results on Tuesday, November 5th. The financial services provider reported $3.52 earnings per share for the quarter, topping analysts’ consensus estimates of $2.73 by $0.79. The business had revenue of $2.55 billion for the quarter, compared to the consensus estimate of $2.45 billion. Jones Lang LaSalle had a return on equity of 15.64% and a net margin of 2.64%. The firm’s revenue for the quarter was up 15.0% on a year-over-year basis. During the same period in the prior year, the business earned $3.02 EPS. On average, sell-side analysts expect that Jones Lang LaSalle Inc will post 13.18 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 15th will be issued a dividend of $0.43 per share. This is an increase from Jones Lang LaSalle’s previous quarterly dividend of $0.41. The ex-dividend date is Thursday, November 14th. This represents a $1.72 annualized dividend and a dividend yield of 1.04%. Jones Lang LaSalle’s payout ratio is currently 7.02%.
Jones Lang LaSalle declared that its board has initiated a share repurchase plan on Tuesday, November 5th that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the financial services provider to buy up to 2.6% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its shares are undervalued.
In other news, CEO Jeff A. Jacobson sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $169.35, for a total transaction of $1,693,500.00. Following the transaction, the chief executive officer now directly owns 7,124 shares of the company’s stock, valued at $1,206,449.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.60% of the company’s stock.
Jones Lang LaSalle Company Profile
Jones Lang LaSalle Incorporated, a professional services company, provides commercial real estate and investment management services worldwide. It offers a range of real estate services, including agency leasing, logistics and supply-chain management, corporate finance, mortgage origination and servicing, debt placement, project and development management/design, digital, property management, energy and sustainability, real estate investment banking, integrated facilities management, research, investment management and advisory, strategic consulting and advisory, investment sale, tenant representation, lease administration, and valuations.
See Also: What is the CAC 40 Index
Want to see what other hedge funds are holding JLL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Jones Lang LaSalle Inc (NYSE:JLL).
Receive News & Ratings for Jones Lang LaSalle Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Jones Lang LaSalle and related companies with MarketBeat.com's FREE daily email newsletter.