Jones Lang LaSalle (NYSE:JLL) Shares Up 9.1% Following Earnings Beat

Jones Lang LaSalle Incorporated (NYSE:JLLGet Free Report)’s share price traded up 9.1% on Wednesday following a better than expected earnings announcement. The stock traded as high as $312.64 and last traded at $312.8440. 608,184 shares were traded during trading, an increase of 8% from the average session volume of 565,726 shares. The stock had previously closed at $286.83.

The financial services provider reported $8.71 EPS for the quarter, topping the consensus estimate of $7.25 by $1.46. The business had revenue of $7.61 billion during the quarter, compared to analysts’ expectations of $7.45 billion. Jones Lang LaSalle had a return on equity of 12.50% and a net margin of 3.03%.The company’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $6.15 earnings per share.

Key Stories Impacting Jones Lang LaSalle

Here are the key news stories impacting Jones Lang LaSalle this week:

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Jones Lang LaSalle in a research note on Thursday, January 22nd. Barclays initiated coverage on shares of Jones Lang LaSalle in a research report on Tuesday, December 2nd. They set an “equal weight” rating and a $351.00 target price for the company. Wall Street Zen upgraded shares of Jones Lang LaSalle from a “buy” rating to a “strong-buy” rating in a research note on Sunday, January 11th. The Goldman Sachs Group raised their target price on shares of Jones Lang LaSalle from $361.00 to $407.00 and gave the company a “buy” rating in a research note on Wednesday, November 26th. Finally, Keefe, Bruyette & Woods upped their price target on shares of Jones Lang LaSalle from $390.00 to $405.00 and gave the stock an “outperform” rating in a research report on Thursday, January 8th. Four analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $364.17.

View Our Latest Stock Report on Jones Lang LaSalle

Insider Transactions at Jones Lang LaSalle

In other news, CEO Christian Ulbrich sold 5,000 shares of the business’s stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $330.33, for a total value of $1,651,650.00. Following the sale, the chief executive officer owned 134,685 shares of the company’s stock, valued at approximately $44,490,496.05. The trade was a 3.58% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Over the last three months, insiders sold 20,000 shares of company stock worth $6,609,091. Company insiders own 0.91% of the company’s stock.

Institutional Investors Weigh In On Jones Lang LaSalle

Several hedge funds and other institutional investors have recently bought and sold shares of JLL. M&T Bank Corp grew its stake in shares of Jones Lang LaSalle by 184,969.0% in the 4th quarter. M&T Bank Corp now owns 3,864,241 shares of the financial services provider’s stock worth $1,300,201,000 after purchasing an additional 3,862,153 shares during the last quarter. AQR Capital Management LLC grew its position in Jones Lang LaSalle by 426.7% in the fourth quarter. AQR Capital Management LLC now owns 899,625 shares of the financial services provider’s stock worth $302,697,000 after buying an additional 728,824 shares during the last quarter. Norges Bank bought a new position in shares of Jones Lang LaSalle in the second quarter valued at $160,187,000. Eurizon Capital SGR S.p.A. acquired a new stake in shares of Jones Lang LaSalle during the 4th quarter valued at $132,263,000. Finally, EdgePoint Investment Group Inc. boosted its stake in shares of Jones Lang LaSalle by 21.0% during the 2nd quarter. EdgePoint Investment Group Inc. now owns 2,221,528 shares of the financial services provider’s stock worth $568,222,000 after acquiring an additional 386,184 shares in the last quarter. 94.80% of the stock is currently owned by institutional investors.

Jones Lang LaSalle Stock Down 0.1%

The company has a market capitalization of $14.83 billion, a price-to-earnings ratio of 19.15 and a beta of 1.42. The company has a quick ratio of 2.31, a current ratio of 2.23 and a debt-to-equity ratio of 0.10. The business has a 50-day moving average price of $338.38 and a 200-day moving average price of $316.14.

Jones Lang LaSalle Company Profile

(Get Free Report)

Jones Lang LaSalle Incorporated (NYSE: JLL) is a leading professional services firm specializing in real estate and investment management. The company provides a broad range of services including leasing, advisory, property and asset management, capital markets, project and development services, and valuation. Through its integrated platform, JLL serves corporate occupiers, institutional investors, real estate owners and developers, offering tailored solutions that span the entire real estate lifecycle.

Founded in 1783 in London as Jones Lang Wootton, the firm established a reputation for expertise in property management and brokerage.

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