Convergence Investment Partners LLC Takes Position in Jones Lang LaSalle Inc (JLL)

Convergence Investment Partners LLC bought a new position in Jones Lang LaSalle Inc (NYSE:JLL) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 19,194 shares of the financial services provider’s stock, valued at approximately $2,859,000.

Other large investors have also modified their holdings of the company. Schwab Charles Investment Management Inc. increased its position in shares of Jones Lang LaSalle by 6.5% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 162,233 shares of the financial services provider’s stock valued at $20,280,000 after purchasing an additional 9,944 shares during the last quarter. Pacer Advisors Inc. increased its position in shares of Jones Lang LaSalle by 32.5% during the 3rd quarter. Pacer Advisors Inc. now owns 7,932 shares of the financial services provider’s stock valued at $980,000 after purchasing an additional 1,945 shares during the last quarter. Prudential Financial Inc. increased its position in shares of Jones Lang LaSalle by 51.5% during the 3rd quarter. Prudential Financial Inc. now owns 344,739 shares of the financial services provider’s stock valued at $42,575,000 after purchasing an additional 117,160 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Jones Lang LaSalle by 2.2% during the 3rd quarter. Bank of New York Mellon Corp now owns 607,855 shares of the financial services provider’s stock valued at $75,070,000 after purchasing an additional 12,871 shares during the last quarter. Finally, Sei Investments Co. increased its position in shares of Jones Lang LaSalle by 31.7% during the 3rd quarter. Sei Investments Co. now owns 20,364 shares of the financial services provider’s stock valued at $2,516,000 after purchasing an additional 4,907 shares during the last quarter. 90.55% of the stock is owned by institutional investors and hedge funds.

JLL has been the subject of several research reports. ValuEngine raised shares of Jones Lang LaSalle from a “hold” rating to a “buy” rating in a research report on Wednesday, October 11th. Royal Bank of Canada lowered shares of Jones Lang LaSalle from an “outperform” rating to a “sector perform” rating in a research report on Thursday, October 12th. Finally, Zacks Investment Research raised shares of Jones Lang LaSalle from a “hold” rating to a “buy” rating and set a $142.00 price target for the company in a research report on Tuesday, October 3rd. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Jones Lang LaSalle presently has a consensus rating of “Buy” and an average price target of $133.57.

In related news, Director Martin H. Nesbitt sold 6,701 shares of the stock in a transaction that occurred on Monday, December 11th. The shares were sold at an average price of $149.32, for a total value of $1,000,593.32. Following the completion of the sale, the director now directly owns 35 shares of the company’s stock, valued at approximately $5,226.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jeff A. Jacobson sold 6,713 shares of the stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $147.42, for a total transaction of $989,630.46. Following the completion of the sale, the chief executive officer now directly owns 4,489 shares of the company’s stock, valued at $661,768.38. The disclosure for this sale can be found here. Corporate insiders own 0.72% of the company’s stock.

Shares of Jones Lang LaSalle Inc (JLL) opened at $151.76 on Wednesday. The stock has a market cap of $7,000.00, a P/E ratio of 20.34, a P/E/G ratio of 1.53 and a beta of 1.91. Jones Lang LaSalle Inc has a fifty-two week low of $97.60 and a fifty-two week high of $155.89. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 0.35.

Jones Lang LaSalle (NYSE:JLL) last released its earnings results on Monday, November 6th. The financial services provider reported $1.96 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.55 by $0.41. The company had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.83 billion. Jones Lang LaSalle had a net margin of 4.52% and a return on equity of 12.55%. The firm’s quarterly revenue was up 14.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.42 EPS. analysts predict that Jones Lang LaSalle Inc will post 8.41 earnings per share for the current fiscal year.

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Jones Lang LaSalle Profile

Jones Lang LaSalle Incorporated (JLL) is a financial and professional services company specializing in real estate. The Company operates through four business segments: Americas; Europe, Middle East and Africa (EMEA); Asia Pacific, and LaSalle. It offers integrated services on a local, regional and global basis to owner, occupier, investor and developer clients.

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Institutional Ownership by Quarter for Jones Lang LaSalle (NYSE:JLL)

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