KLP Kapitalforvaltning AS Takes Position in Jones Lang LaSalle Incorporated (NYSE:JLL)

KLP Kapitalforvaltning AS bought a new position in Jones Lang LaSalle Incorporated (NYSE:JLL) during the 4th quarter, Holdings Channel.com reports. The institutional investor bought 9,600 shares of the financial services provider’s stock, valued at approximately $2,430,000.

Other institutional investors have also recently bought and sold shares of the company. Hudson Edge Investment Partners Inc. boosted its holdings in shares of Jones Lang LaSalle by 3.1% in the 4th quarter. Hudson Edge Investment Partners Inc. now owns 1,332 shares of the financial services provider’s stock valued at $337,000 after purchasing an additional 40 shares during the last quarter. Greenleaf Trust boosted its holdings in Jones Lang LaSalle by 3.0% in the fourth quarter. Greenleaf Trust now owns 1,617 shares of the financial services provider’s stock valued at $409,000 after acquiring an additional 47 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its position in Jones Lang LaSalle by 35.7% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 194 shares of the financial services provider’s stock valued at $49,000 after acquiring an additional 51 shares during the period. Private Trust Co. NA increased its stake in Jones Lang LaSalle by 112.0% during the fourth quarter. Private Trust Co. NA now owns 106 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 56 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. lifted its stake in shares of Jones Lang LaSalle by 11.1% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 589 shares of the financial services provider’s stock valued at $159,000 after purchasing an additional 59 shares in the last quarter. 94.80% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Keefe, Bruyette & Woods raised shares of Jones Lang LaSalle from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $292.00 to $325.00 in a research report on Tuesday, December 10th. StockNews.com raised shares of Jones Lang LaSalle from a “buy” rating to a “strong-buy” rating in a research note on Saturday, March 22nd. The Goldman Sachs Group initiated coverage on shares of Jones Lang LaSalle in a research report on Friday, December 6th. They set a “buy” rating and a $352.00 price target for the company. Raymond James raised their price objective on Jones Lang LaSalle from $317.00 to $320.00 and gave the company a “strong-buy” rating in a research report on Friday, January 24th. Finally, JPMorgan Chase & Co. increased their target price on Jones Lang LaSalle from $263.00 to $327.00 and gave the company an “overweight” rating in a research note on Monday, December 16th. Six analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Jones Lang LaSalle has a consensus rating of “Buy” and an average target price of $309.00.

Jones Lang LaSalle Stock Down 1.3 %

Shares of NYSE JLL opened at $251.19 on Friday. The firm has a market cap of $11.90 billion, a price-to-earnings ratio of 22.25 and a beta of 1.36. Jones Lang LaSalle Incorporated has a 1 year low of $171.45 and a 1 year high of $288.50. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.29 and a current ratio of 2.00. The stock’s 50-day simple moving average is $267.05 and its 200-day simple moving average is $264.59.

Jones Lang LaSalle (NYSE:JLL) last announced its earnings results on Wednesday, February 19th. The financial services provider reported $6.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.76 by $0.39. The company had revenue of $6.81 billion for the quarter, compared to analyst estimates of $6.65 billion. Jones Lang LaSalle had a return on equity of 10.20% and a net margin of 2.33%. Jones Lang LaSalle’s quarterly revenue was up 15.8% on a year-over-year basis. During the same period in the prior year, the company posted $4.23 EPS. As a group, equities analysts anticipate that Jones Lang LaSalle Incorporated will post 16.45 earnings per share for the current fiscal year.

About Jones Lang LaSalle

Jones Lang LaSalle Incorporated operates as a commercial real estate and investment management company. It engages in the buying, building, occupying, managing, and investing in a commercial, industrial, hotel, residential, and retail properties in Americas, Europe, the Middle East, Africa, and the Asia Pacific.