Sumitomo Mitsui Trust Group Inc. Acquires New Stake in Jones Lang LaSalle Incorporated (NYSE:JLL)

Sumitomo Mitsui Trust Group Inc. purchased a new stake in Jones Lang LaSalle Incorporated (NYSE:JLL) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 1,672 shares of the financial services provider’s stock, valued at approximately $451,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. UMB Bank n.a. raised its stake in shares of Jones Lang LaSalle by 350.0% during the third quarter. UMB Bank n.a. now owns 135 shares of the financial services provider’s stock worth $36,000 after acquiring an additional 105 shares in the last quarter. V Square Quantitative Management LLC purchased a new position in Jones Lang LaSalle in the 3rd quarter worth $37,000. Massmutual Trust Co. FSB ADV lifted its stake in Jones Lang LaSalle by 37.5% in the third quarter. Massmutual Trust Co. FSB ADV now owns 143 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 39 shares during the last quarter. Innealta Capital LLC purchased a new stake in Jones Lang LaSalle during the second quarter valued at about $34,000. Finally, Mather Group LLC. increased its holdings in shares of Jones Lang LaSalle by 446.9% in the second quarter. Mather Group LLC. now owns 268 shares of the financial services provider’s stock worth $52,000 after buying an additional 219 shares during the period. Hedge funds and other institutional investors own 94.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on JLL. StockNews.com upgraded shares of Jones Lang LaSalle from a “buy” rating to a “strong-buy” rating in a report on Friday, September 13th. Raymond James increased their price target on shares of Jones Lang LaSalle from $246.00 to $268.00 and gave the stock a “strong-buy” rating in a research note on Thursday, July 25th. Finally, Keefe, Bruyette & Woods lifted their price objective on Jones Lang LaSalle from $280.00 to $292.00 and gave the company a “market perform” rating in a research report on Tuesday, November 12th. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Jones Lang LaSalle presently has an average rating of “Buy” and a consensus target price of $255.20.

Jones Lang LaSalle Trading Down 1.5 %

JLL stock opened at $258.31 on Wednesday. Jones Lang LaSalle Incorporated has a twelve month low of $152.32 and a twelve month high of $288.50. The stock has a market capitalization of $12.25 billion, a price-to-earnings ratio of 26.12 and a beta of 1.37. The company has a quick ratio of 2.29, a current ratio of 2.29 and a debt-to-equity ratio of 0.16. The firm’s fifty day simple moving average is $264.90 and its two-hundred day simple moving average is $236.63.

Jones Lang LaSalle (NYSE:JLL) last announced its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $3.50 earnings per share for the quarter, beating analysts’ consensus estimates of $2.67 by $0.83. The company had revenue of $5.87 billion during the quarter, compared to analyst estimates of $5.62 billion. Jones Lang LaSalle had a net margin of 2.12% and a return on equity of 8.95%. The firm’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same quarter last year, the business posted $2.01 EPS. As a group, analysts anticipate that Jones Lang LaSalle Incorporated will post 13.17 earnings per share for the current 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.