Jones Lang LaSalle (NYSE:JLL) Price Target Raised to $366.00

Jones Lang LaSalle (NYSE:JLL) had its price objective raised by Barclays from $348.00 to $366.00 in a research note issued to investors on Wednesday morning,Benzinga reports. They currently have an equal weight rating on the financial services provider’s stock.

Several other research analysts have also recently weighed in on the stock. Keefe, Bruyette & Woods decreased their price target on shares of Jones Lang LaSalle from $405.00 to $380.00 and set an “outperform” rating on the stock in a report on Tuesday, February 24th. Zacks Research cut shares of Jones Lang LaSalle from a “strong-buy” rating to a “hold” rating in a report on Friday, April 24th. UBS Group upped their price target on shares of Jones Lang LaSalle from $425.00 to $445.00 and gave the stock a “buy” rating in a report on Wednesday, April 22nd. Finally, Weiss Ratings raised shares of Jones Lang LaSalle from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, February 20th. Five research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $368.33.

Jones Lang LaSalle Trading Down 0.0%

Shares of JLL stock opened at $288.86 on Wednesday. The company’s fifty day simple moving average is $314.49 and its two-hundred day simple moving average is $322.26. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.35 and a quick ratio of 2.35. Jones Lang LaSalle has a 1 year low of $211.86 and a 1 year high of $363.06. The stock has a market capitalization of $13.40 billion, a price-to-earnings ratio of 15.53 and a beta of 1.34.

Jones Lang LaSalle (NYSE:JLL) last issued its earnings results on Thursday, April 30th. The financial services provider reported $3.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.01 by $0.42. The business had revenue of $6.39 billion for the quarter, compared to analysts’ expectations of $6 billion. Jones Lang LaSalle had a net margin of 3.35% and a return on equity of 13.01%. The business’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.31 EPS. As a group, analysts anticipate that Jones Lang LaSalle will post 22.35 earnings per share for the current year.

Insider Buying and Selling at Jones Lang LaSalle

In related news, Director Deborah H. Mcaneny sold 2,500 shares of the company’s stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $300.50, for a total value of $751,250.00. Following the completion of the transaction, the director directly owned 14,985 shares in the company, valued at approximately $4,502,992.50. The trade was a 14.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Richard Bloxam sold 5,440 shares of the company’s stock in a transaction on Tuesday, March 24th. The stock was sold at an average price of $296.94, for a total transaction of $1,615,353.60. The SEC filing for this sale provides additional information. 0.91% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Equity Investment Corp purchased a new stake in Jones Lang LaSalle during the third quarter valued at about $72,132,000. Y Intercept Hong Kong Ltd bought a new position in shares of Jones Lang LaSalle during the third quarter valued at about $1,143,000. DigitalBridge Group Inc. bought a new position in shares of Jones Lang LaSalle during the third quarter valued at about $1,223,000. AustralianSuper Pty Ltd bought a new position in shares of Jones Lang LaSalle during the third quarter valued at about $32,184,000. Finally, Ranger Investment Management L.P. raised its stake in shares of Jones Lang LaSalle by 53.0% during the third quarter. Ranger Investment Management L.P. now owns 75,950 shares of the financial services provider’s stock valued at $22,654,000 after acquiring an additional 26,320 shares during the last quarter. 94.80% of the stock is currently owned by hedge funds and other institutional investors.

About Jones Lang LaSalle

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.