Norges Bank Invests $194.95 Million in Jones Lang LaSalle Incorporated $JLL

Norges Bank acquired a new position in Jones Lang LaSalle Incorporated (NYSE:JLL) in the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 579,397 shares of the financial services provider’s stock, valued at approximately $194,950,000.

A number of other hedge funds have also recently made changes to their positions in JLL. Integrated Wealth Concepts LLC bought a new position in shares of Jones Lang LaSalle in the first quarter worth about $546,000. Empowered Funds LLC boosted its stake in shares of Jones Lang LaSalle by 203.1% in the first quarter. Empowered Funds LLC now owns 4,046 shares of the financial services provider’s stock worth $1,003,000 after acquiring an additional 2,711 shares during the period. EverSource Wealth Advisors LLC boosted its stake in shares of Jones Lang LaSalle by 33.8% in the second quarter. EverSource Wealth Advisors LLC now owns 499 shares of the financial services provider’s stock worth $128,000 after acquiring an additional 126 shares during the period. Cresset Asset Management LLC boosted its stake in shares of Jones Lang LaSalle by 28.4% in the second quarter. Cresset Asset Management LLC now owns 1,673 shares of the financial services provider’s stock worth $428,000 after acquiring an additional 370 shares during the period. Finally, Frontier Capital Management Co. LLC purchased a new stake in shares of Jones Lang LaSalle in the second quarter worth about $211,000. Institutional investors own 94.80% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on JLL shares. Zacks Research downgraded Jones Lang LaSalle from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 24th. UBS Group boosted their target price on Jones Lang LaSalle from $425.00 to $445.00 and gave the stock a “buy” rating in a research report on Wednesday, April 22nd. Weiss Ratings downgraded Jones Lang LaSalle from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, May 28th. Barclays boosted their target price on Jones Lang LaSalle from $348.00 to $366.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 13th. Finally, Keefe, Bruyette & Woods decreased their target price on Jones Lang LaSalle from $405.00 to $380.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 24th. Five investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $394.00.

Insider Buying and Selling

In other Jones Lang LaSalle news, CEO Richard Bloxam sold 5,440 shares of the company’s stock in a transaction that occurred 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Deborah H. Mcaneny sold 2,500 shares of the company’s stock in a transaction that occurred 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 sale, the director owned 14,985 shares in the company, valued at approximately $4,502,992.50. This trade represents a 14.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.91% of the company’s stock.

Jones Lang LaSalle Trading Down 2.2%

Shares of JLL stock opened at $289.61 on Thursday. Jones Lang LaSalle Incorporated has a 1 year low of $225.33 and a 1 year high of $363.06. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.35 and a quick ratio of 2.35. The stock’s 50 day simple moving average is $312.06 and its two-hundred day simple moving average is $321.25. The company has a market cap of $13.43 billion, a PE ratio of 15.57 and a beta of 1.29.

Jones Lang LaSalle (NYSE:JLL) last issued its quarterly earnings data 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. Jones Lang LaSalle had a return on equity of 13.01% and a net margin of 3.35%.The business had revenue of $6.39 billion for the quarter, compared to the consensus estimate of $6 billion. During the same period in the prior year, the business posted $2.31 earnings per share. The company’s quarterly revenue was up 11.1% compared to the same quarter last year. Research analysts predict that Jones Lang LaSalle Incorporated will post 22.8 earnings per share for the current year.

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.