Envestnet Asset Management Inc. boosted its stake in shares of Jones Lang LaSalle Inc (NYSE:JLL) by 123.8% during the second quarter, HoldingsChannel.com reports. The firm owned 9,115 shares of the financial services provider’s stock after purchasing an additional 5,042 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Jones Lang LaSalle were worth $1,514,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently modified their holdings of the company. Cornerstone Wealth Management LLC bought a new position in Jones Lang LaSalle during the second quarter valued at approximately $172,000. IFM Investors Pty Ltd bought a new position in Jones Lang LaSalle during the second quarter valued at approximately $206,000. Eqis Capital Management Inc. bought a new position in Jones Lang LaSalle during the second quarter valued at approximately $207,000. Manning & Napier Group LLC bought a new position in Jones Lang LaSalle during the second quarter valued at approximately $215,000. Finally, Cambria Investment Management L.P. bought a new position in Jones Lang LaSalle during the second quarter valued at approximately $244,000. Institutional investors own 93.55% of the company’s stock.
In other Jones Lang LaSalle news, CEO Guy Grainger sold 200 shares of the company’s stock in a transaction that occurred on Monday, August 27th. The shares were sold at an average price of $154.94, for a total transaction of $30,988.00. Following the completion of the sale, the chief executive officer now directly owns 1,341 shares of the company’s stock, valued at $207,774.54. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.63% of the stock is currently owned by corporate insiders.
A number of brokerages recently weighed in on JLL. Zacks Investment Research upgraded shares of Jones Lang LaSalle from a “sell” rating to a “hold” rating in a research report on Tuesday, September 11th. ValuEngine downgraded shares of Jones Lang LaSalle from a “buy” rating to a “hold” rating in a research report on Wednesday, August 8th. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $179.17.
Shares of JLL stock opened at $143.27 on Tuesday. Jones Lang LaSalle Inc has a 12 month low of $120.12 and a 12 month high of $178.75. The company has a market cap of $6.58 billion, a price-to-earnings ratio of 15.76, a price-to-earnings-growth ratio of 1.28 and a beta of 1.62. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.92 and a quick ratio of 1.92.
Jones Lang LaSalle (NYSE:JLL) last announced its earnings results on Wednesday, August 8th. The financial services provider reported $2.26 EPS for the quarter, beating the Zacks’ consensus estimate of $2.21 by $0.05. Jones Lang LaSalle had a net margin of 2.62% and a return on equity of 13.84%. The business had revenue of $3.90 billion during the quarter, compared to analysts’ expectations of $2.02 billion. During the same period in the prior year, the company earned $2.17 earnings per share. The firm’s revenue was up 12.5% on a year-over-year basis. research analysts predict that Jones Lang LaSalle Inc will post 10.26 earnings per share for the current year.
Jones Lang LaSalle 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, project and development management/construction, capital markets, property management, corporate finance, real estate investment banking/merchant banking, energy and sustainability, research, facility management outsourcing, strategic consulting, technology solutions, advisory, investment management, tenant representation, lease administration, transaction management, logistics and supply-chain management, valuations, and mortgage origination and servicing.
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