Raymond James Financial Inc. Invests $26.49 Million in Jones Lang LaSalle Incorporated (NYSE:JLL)

Raymond James Financial Inc. acquired a new position in Jones Lang LaSalle Incorporated (NYSE:JLL) during the fourth quarter, HoldingsChannel.com reports. The fund acquired 104,634 shares of the financial services provider’s stock, valued at approximately $26,487,000.

A number of other institutional investors have also made changes to their positions in JLL. FMR LLC lifted its position in shares of Jones Lang LaSalle by 15.0% in the third quarter. FMR LLC now owns 3,530,720 shares of the financial services provider’s stock worth $952,624,000 after purchasing an additional 459,466 shares in the last quarter. SG Americas Securities LLC raised its position in Jones Lang LaSalle by 7,967.8% during the fourth quarter. SG Americas Securities LLC now owns 279,065 shares of the financial services provider’s stock worth $70,643,000 after acquiring an additional 275,606 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in Jones Lang LaSalle by 688.4% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 130,752 shares of the financial services provider’s stock worth $32,603,000 after acquiring an additional 114,168 shares in the last quarter. Lord Abbett & CO. LLC bought a new stake in Jones Lang LaSalle during the third quarter worth $24,283,000. Finally, Bamco Inc. NY raised its position in Jones Lang LaSalle by 28.3% during the third quarter. Bamco Inc. NY now owns 314,710 shares of the financial services provider’s stock worth $84,912,000 after acquiring an additional 69,380 shares in the last quarter. Institutional investors own 94.80% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the stock. 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 on the stock. Keefe, Bruyette & Woods raised shares of Jones Lang LaSalle from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $292.00 to $325.00 in a research report on Tuesday, December 10th. StockNews.com lowered shares of Jones Lang LaSalle from a “strong-buy” rating to a “buy” rating in a research report on Friday. Wolfe Research raised shares of Jones Lang LaSalle from a “peer perform” rating to an “outperform” rating and set a $353.00 price objective on the stock in a research report on Monday, November 25th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Jones Lang LaSalle from $263.00 to $327.00 and gave the company an “overweight” rating in a research report on Monday, December 16th. Seven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Jones Lang LaSalle presently has a consensus rating of “Buy” and a consensus target price of $309.00.

Jones Lang LaSalle Price Performance

NYSE:JLL opened at $249.68 on Friday. Jones Lang LaSalle Incorporated has a 52 week low of $171.45 and a 52 week high of $288.50. The firm has a market cap of $11.83 billion, a price-to-earnings ratio of 22.12 and a beta of 1.36. The firm’s 50-day simple moving average is $266.07 and its 200 day simple moving average is $264.46. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.29 and a current ratio of 2.00.

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

Jones Lang LaSalle Profile

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.