SG Americas Securities LLC grew its stake in shares of Jones Lang LaSalle Inc (NYSE:JLL) by 239.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,902 shares of the financial services provider’s stock after acquiring an additional 12,632 shares during the quarter. SG Americas Securities LLC’s holdings in Jones Lang LaSalle were worth $2,489,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently bought and sold shares of the company. Amundi Pioneer Asset Management Inc. raised its position in Jones Lang LaSalle by 4.1% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 23,116 shares of the financial services provider’s stock worth $3,564,000 after purchasing an additional 914 shares during the last quarter. First National Bank of Omaha boosted its stake in Jones Lang LaSalle by 46.6% in the 2nd quarter. First National Bank of Omaha now owns 34,424 shares of the financial services provider’s stock worth $4,843,000 after purchasing an additional 10,950 shares during the period. Louisiana State Employees Retirement System boosted its stake in shares of Jones Lang LaSalle by 8.2% during the 2nd quarter. Louisiana State Employees Retirement System now owns 13,200 shares of the financial services provider’s stock worth $1,829,000 after buying an additional 1,000 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its stake in shares of Jones Lang LaSalle by 31.5% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 67,858 shares of the financial services provider’s stock worth $9,547,000 after buying an additional 16,261 shares during the last quarter. Finally, NEXT Financial Group Inc boosted its stake in shares of Jones Lang LaSalle by 961.9% during the 2nd quarter. NEXT Financial Group Inc now owns 892 shares of the financial services provider’s stock worth $125,000 after buying an additional 808 shares during the last quarter. Hedge funds and other institutional investors own 83.45% of the company’s stock.
JLL has been the subject of a number of recent research reports. JPMorgan Chase & Co. assumed coverage on shares of Jones Lang LaSalle in a research note on Wednesday, July 17th. They set an “overweight” rating and a $140.23 price objective for the company. Barclays set a $179.00 target price on shares of Jones Lang LaSalle and gave the stock a “buy” rating in a report on Friday, October 11th. Finally, UBS Group increased their price target on shares of Jones Lang LaSalle from $178.00 to $185.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $175.90.
Jones Lang LaSalle (NYSE:JLL) last issued its quarterly earnings results on Tuesday, November 5th. The financial services provider reported $3.52 EPS for the quarter, topping analysts’ consensus estimates of $2.73 by $0.79. The company had revenue of $2.55 billion for the quarter, compared to analyst estimates of $2.45 billion. Jones Lang LaSalle had a net margin of 2.64% and a return on equity of 15.64%. Jones Lang LaSalle’s revenue was up 15.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.02 earnings per share. On average, analysts expect that Jones Lang LaSalle Inc will post 12.95 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 15th will be issued a $0.43 dividend. This is a positive change from Jones Lang LaSalle’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $1.72 annualized dividend and a yield of 1.06%. Jones Lang LaSalle’s payout ratio is presently 7.02%.
Jones Lang LaSalle declared that its board has initiated a stock repurchase plan on Tuesday, November 5th that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the financial services provider to buy up to 2.6% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.
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, 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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