The Manufacturers Life Insurance Company Buys New Stake in Jones Lang LaSalle Incorporated $JLL

The Manufacturers Life Insurance Company bought a new position in shares of Jones Lang LaSalle Incorporated (NYSE:JLL) in the second quarter, HoldingsChannel.com reports. The firm bought 27,673 shares of the financial services provider’s stock, valued at approximately $8,577,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Sunbelt Securities Inc. bought a new position in shares of Jones Lang LaSalle in the third quarter worth about $25,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Jones Lang LaSalle in the 2nd quarter valued at approximately $26,000. International Assets Investment Management LLC bought a new position in Jones Lang LaSalle in the 4th quarter worth approximately $29,000. Activest Wealth Management boosted its position in shares of Jones Lang LaSalle by 1,720.0% in the fourth quarter. Activest Wealth Management now owns 91 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 86 shares during the period. Finally, Johnson Financial Group Inc. bought a new stake in shares of Jones Lang LaSalle in the second quarter valued at approximately $34,000. 94.80% of the stock is owned by institutional investors and hedge funds.

Jones Lang LaSalle Price Performance

Jones Lang LaSalle stock opened at $378.94 on Friday. The business has a 50 day simple moving average of $344.31 and a 200 day simple moving average of $320.79. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.40 and a quick ratio of 2.40. The company has a market capitalization of $17.44 billion, a PE ratio of 18.16 and a beta of 1.25. Jones Lang LaSalle Incorporated has a one year low of $259.83 and a one year high of $393.84.

Jones Lang LaSalle (NYSE:JLL) last released its quarterly earnings data on Thursday, July 30th. The financial services provider reported $5.26 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $6.93 billion during the quarter, compared to analyst estimates of $6.88 billion. During the same period in the prior year, the company posted $3.30 earnings per share. The business’s revenue for the quarter was up 10.8% compared to the same quarter last year. On average, sell-side analysts forecast that Jones Lang LaSalle Incorporated will post 24.59 EPS for the current fiscal year.

Analyst Ratings Changes

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

Insider Transactions at Jones Lang LaSalle

In other Jones Lang LaSalle news, CEO Christian Ulbrich sold 2,000 shares of the company’s stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $385.53, for a total transaction of $771,060.00. Following the sale, the chief executive officer directly owned 138,418 shares of the company’s stock, valued at approximately $53,364,291.54. This represents a 1.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Larry Quinlan sold 403 shares of the firm’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $295.14, for a total transaction of $118,941.42. Following the sale, the director directly owned 4,771 shares of the company’s stock, valued at approximately $1,408,112.94. The trade was a 7.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 6,805 shares of company stock worth $2,511,297. Company insiders own 0.91% of the company’s stock.

Jones Lang LaSalle Profile

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.