Empowered Funds LLC Makes New Investment in Jones Lang LaSalle Incorporated $JLL

Empowered Funds LLC purchased a new stake in Jones Lang LaSalle Incorporated (NYSE:JLL) during the 2nd quarter, Holdings Channel reports. The fund purchased 18,011 shares of the financial services provider’s stock, valued at approximately $5,583,000.

A number of other hedge funds have also modified their holdings of JLL. BlackRock Inc. acquired a new stake in shares of Jones Lang LaSalle during the 2nd quarter worth about $1,446,414,000. AQR Capital Management LLC lifted its stake in shares of Jones Lang LaSalle by 426.7% during the fourth quarter. AQR Capital Management LLC now owns 899,625 shares of the financial services provider’s stock valued at $302,697,000 after buying an additional 728,824 shares during the period. Norges Bank acquired a new stake in Jones Lang LaSalle during the fourth quarter worth approximately $194,950,000. Eurizon Capital SGR S.p.A. purchased a new stake in Jones Lang LaSalle in the 4th quarter worth approximately $132,263,000. Finally, Millennium Management LLC raised its holdings in Jones Lang LaSalle by 4,285.3% in the 3rd quarter. Millennium Management LLC now owns 350,821 shares of the financial services provider’s stock valued at $104,643,000 after acquiring an additional 342,821 shares during the last quarter. 94.80% of the stock is owned by hedge funds and other institutional investors.

Jones Lang LaSalle Trading Up 0.2%

JLL stock opened at $378.94 on Monday. The company has a quick ratio of 2.40, a current ratio of 2.40 and a debt-to-equity ratio of 0.15. The company has a market cap of $17.44 billion, a price-to-earnings ratio of 18.16 and a beta of 1.24. The business has a fifty day simple moving average of $344.31 and a 200-day simple moving average of $320.60. Jones Lang LaSalle Incorporated has a 52 week low of $259.83 and a 52 week high of $393.84.

Jones Lang LaSalle (NYSE:JLL) last issued its earnings results on Thursday, July 30th. The financial services provider reported $5.26 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $6.88 billion. During the same quarter last year, the firm earned $3.30 earnings per share. The firm’s revenue for the quarter was up 10.8% compared to the same quarter last year. On average, equities research analysts expect that Jones Lang LaSalle Incorporated will post 24.59 EPS for the current year.

Wall Street Analysts Forecast Growth

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

Insider Transactions at Jones Lang LaSalle

In related news, CEO Christian Ulbrich sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $385.53, for a total value of $771,060.00. Following the transaction, the chief executive officer owned 138,418 shares in the company, valued at approximately $53,364,291.54. This trade represents a 1.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Larry Quinlan sold 403 shares of Jones Lang LaSalle stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $295.14, for a total transaction of $118,941.42. Following the transaction, the director directly owned 4,771 shares in the company, valued at approximately $1,408,112.94. This trade represents a 7.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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.

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.