Allianz Asset Management GmbH Boosts Position in Jones Lang LaSalle Incorporated (NYSE:JLL)

Allianz Asset Management GmbH lifted its holdings in Jones Lang LaSalle Incorporated (NYSE:JLL) by 28.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 134,490 shares of the financial services provider’s stock after acquiring an additional 30,001 shares during the quarter. Allianz Asset Management GmbH’s holdings in Jones Lang LaSalle were worth $34,045,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Legacy Capital Group California Inc. purchased a new position in Jones Lang LaSalle during the fourth quarter valued at approximately $238,000. Abacus Planning Group Inc. increased its holdings in shares of Jones Lang LaSalle by 6.3% during the 4th quarter. Abacus Planning Group Inc. now owns 2,785 shares of the financial services provider’s stock valued at $705,000 after purchasing an additional 165 shares in the last quarter. TKG Advisors LLC lifted its stake in shares of Jones Lang LaSalle by 7.3% in the 4th quarter. TKG Advisors LLC now owns 19,935 shares of the financial services provider’s stock valued at $5,505,000 after purchasing an additional 1,358 shares during the period. Convergence Investment Partners LLC boosted its holdings in Jones Lang LaSalle by 17.3% during the fourth quarter. Convergence Investment Partners LLC now owns 2,001 shares of the financial services provider’s stock worth $507,000 after buying an additional 295 shares in the last quarter. Finally, Truist Financial Corp grew its position in Jones Lang LaSalle by 52.8% during the fourth quarter. Truist Financial Corp now owns 182,828 shares of the financial services provider’s stock valued at $46,281,000 after buying an additional 63,161 shares during the period. Hedge funds and other institutional investors own 94.80% of the company’s stock.

Jones Lang LaSalle Stock Performance

Shares of NYSE:JLL opened at $261.16 on Monday. The business’s 50 day moving average price is $265.07 and its 200-day moving average price is $263.32. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.00 and a quick ratio of 2.29. The firm has a market capitalization of $12.38 billion, a PE ratio of 23.13 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.

Jones Lang LaSalle (NYSE:JLL) last posted its quarterly earnings results on Wednesday, February 19th. The financial services provider reported $6.15 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $6.81 billion for the quarter, compared to the consensus estimate of $6.65 billion. During the same period last year, the firm posted $4.23 earnings per share. The company’s revenue for the quarter was up 15.8% on a year-over-year basis. As a group, equities research analysts expect that Jones Lang LaSalle Incorporated will post 16.45 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. The Goldman Sachs Group started coverage on shares of Jones Lang LaSalle in a research report on Friday, December 6th. They issued a “buy” rating and a $352.00 price objective for the company. Raymond James increased their price target on Jones Lang LaSalle from $317.00 to $320.00 and gave the stock a “strong-buy” rating in a research report on Friday, January 24th. Keefe, Bruyette & Woods upgraded Jones Lang LaSalle from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $292.00 to $325.00 in a research report on Tuesday, December 10th. 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 report on Monday, December 16th. Finally, Wolfe Research raised shares of Jones Lang LaSalle from a “peer perform” rating to an “outperform” rating and set a $353.00 price target for the company in a report on Monday, November 25th. Six investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $309.00.

Jones Lang LaSalle Company 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.