Envestnet Asset Management Inc. lifted its position in shares of Jones Lang LaSalle Inc (NYSE:JLL) by 272.0% in the first quarter, Holdings Channel reports. The institutional investor owned 44,128 shares of the financial services provider’s stock after purchasing an additional 32,267 shares during the period. Envestnet Asset Management Inc.’s holdings in Jones Lang LaSalle were worth $6,804,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in JLL. JOYN Advisors Inc. increased its holdings in Jones Lang LaSalle by 1,328.6% in the 4th quarter. JOYN Advisors Inc. now owns 200 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 186 shares in the last quarter. Ropes Wealth Advisors LLC acquired a new stake in Jones Lang LaSalle in the 1st quarter valued at $35,000. Parallel Advisors LLC increased its holdings in Jones Lang LaSalle by 62.2% in the 1st quarter. Parallel Advisors LLC now owns 232 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 89 shares in the last quarter. Hanson & Doremus Investment Management acquired a new stake in Jones Lang LaSalle in the 1st quarter valued at $39,000. Finally, Synovus Financial Corp increased its holdings in Jones Lang LaSalle by 340.3% in the 1st quarter. Synovus Financial Corp now owns 273 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 211 shares in the last quarter. Institutional investors and hedge funds own 91.76% of the company’s stock.
Shares of NYSE JLL opened at $132.40 on Thursday. Jones Lang LaSalle Inc has a 12-month low of $119.79 and a 12-month high of $174.42. The firm has a market capitalization of $6.10 billion, a P/E ratio of 10.97, a P/E/G ratio of 1.27 and a beta of 1.73. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.01 and a quick ratio of 2.01.
Jones Lang LaSalle (NYSE:JLL) last posted its quarterly earnings data on Tuesday, May 7th. The financial services provider reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.20. The company had revenue of $1.96 billion during the quarter, compared to analysts’ expectations of $1.89 billion. Jones Lang LaSalle had a net margin of 2.81% and a return on equity of 15.36%. The firm’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.97 EPS. On average, analysts forecast that Jones Lang LaSalle Inc will post 11.65 earnings per share for the current year.
The company also recently disclosed a semiannual dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 17th will be given a $0.43 dividend. This is a boost from Jones Lang LaSalle’s previous semiannual dividend of $0.41. This represents a yield of 0.61%. The ex-dividend date is Thursday, May 16th. Jones Lang LaSalle’s dividend payout ratio is presently 7.02%.
JLL has been the subject of several recent research reports. Bank of America reiterated an “underperform” rating and issued a $150.00 price target (up from $133.00) on shares of Jones Lang LaSalle in a report on Wednesday, February 13th. Goldman Sachs Group upgraded Jones Lang LaSalle from a “neutral” rating to a “buy” rating and increased their price target for the company from $183.00 to $206.00 in a report on Friday, May 10th. Raymond James increased their price target on Jones Lang LaSalle from $178.00 to $188.00 and gave the company an “outperform” rating in a report on Wednesday, February 13th. ValuEngine upgraded Jones Lang LaSalle from a “hold” rating to a “buy” rating in a report on Wednesday, February 13th. Finally, Barclays reiterated a “buy” rating and issued a $184.00 price target on shares of Jones Lang LaSalle in a report on Tuesday, February 26th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company. Jones Lang LaSalle presently has an average rating of “Hold” and an average price target of $177.83.
Jones Lang LaSalle Company Profile
Jones Lang LaSalle Incorporated, a professional services company, provides commercial real estate and investment management services worldwide. It offers a range of real estate services, including agency leasing, logistics and supply-chain management, corporate finance, mortgage origination and servicing, debt placement, project and development management/design, digital, property management, energy and sustainability, real estate investment banking, integrated facilities management, research, investment management and advisory, strategic consulting and advisory, investment sale, tenant representation, lease administration, and valuations.
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