Norges Bank Takes $149.47 Million Position in Jones Lang LaSalle Incorporated (NYSE:JLL)

Norges Bank purchased a new stake in Jones Lang LaSalle Incorporated (NYSE:JLL) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 590,457 shares of the financial services provider’s stock, valued at approximately $149,468,000. Norges Bank owned about 1.24% of Jones Lang LaSalle as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in JLL. Blair William & Co. IL boosted its position in shares of Jones Lang LaSalle by 15.3% in the 4th quarter. Blair William & Co. IL now owns 56,464 shares of the financial services provider’s stock worth $14,293,000 after purchasing an additional 7,511 shares during the last quarter. Loomis Sayles & Co. L P grew its position in shares of Jones Lang LaSalle by 1.7% during the 4th quarter. Loomis Sayles & Co. L P now owns 7,736 shares of the financial services provider’s stock worth $1,958,000 after buying an additional 130 shares during the period. Mitsubishi UFJ Trust & Banking Corp increased its stake in shares of Jones Lang LaSalle by 14.2% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 78,410 shares of the financial services provider’s stock valued at $19,849,000 after acquiring an additional 9,742 shares during the last quarter. EntryPoint Capital LLC acquired a new stake in shares of Jones Lang LaSalle in the 4th quarter valued at approximately $208,000. Finally, Prudential Financial Inc. grew its holdings in Jones Lang LaSalle by 14.3% during the fourth quarter. Prudential Financial Inc. now owns 317,677 shares of the financial services provider’s stock valued at $80,417,000 after purchasing an additional 39,623 shares during the period. 94.80% of the stock is owned by institutional investors.

Jones Lang LaSalle Price Performance

NYSE JLL opened at $248.13 on Tuesday. Jones Lang LaSalle Incorporated has a 12-month low of $171.45 and a 12-month high of $288.50. The firm’s 50 day moving average is $266.45 and its 200-day moving average is $264.67. The company has a market capitalization of $11.76 billion, a PE ratio of 21.98 and a beta of 1.36. The company has a quick ratio of 2.29, a current ratio of 2.00 and a debt-to-equity ratio of 0.12.

Jones Lang LaSalle (NYSE:JLL) last posted its quarterly earnings results on Wednesday, February 19th. The financial services provider reported $6.15 earnings per share for the quarter, beating analysts’ consensus estimates of $5.76 by $0.39. The firm had revenue of $6.81 billion during the quarter, compared to the consensus estimate of $6.65 billion. Jones Lang LaSalle had a return on equity of 10.20% and a net margin of 2.33%. The business’s revenue was up 15.8% compared to the same quarter last year. During the same period last year, the company earned $4.23 earnings per share. Equities research analysts anticipate that Jones Lang LaSalle Incorporated will post 16.45 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have weighed in on JLL shares. JPMorgan Chase & Co. increased their target price on shares of Jones Lang LaSalle from $263.00 to $327.00 and gave the stock an “overweight” rating in a report on Monday, December 16th. The Goldman Sachs Group assumed coverage on Jones Lang LaSalle in a research report on Friday, December 6th. They set a “buy” rating and a $352.00 price target on the stock. StockNews.com raised Jones Lang LaSalle from a “buy” rating to a “strong-buy” rating in a research note on Saturday, March 22nd. Raymond James lifted their price target on shares of Jones Lang LaSalle from $317.00 to $320.00 and gave the company a “strong-buy” rating in a research note on Friday, January 24th. Finally, Keefe, Bruyette & Woods raised shares of Jones Lang LaSalle from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $292.00 to $325.00 in a research report on Tuesday, December 10th. Six investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Jones Lang LaSalle presently has a consensus rating of “Buy” and a consensus target price of $309.00.

Jones Lang LaSalle Profile

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.