CIBC Asset Management Inc Grows Stock Position in Jones Lang LaSalle Incorporated (NYSE:JLL)

CIBC Asset Management Inc boosted its stake in shares of Jones Lang LaSalle Incorporated (NYSE:JLL) by 5.6% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,452 shares of the financial services provider’s stock after acquiring an additional 77 shares during the quarter. CIBC Asset Management Inc’s holdings in Jones Lang LaSalle were worth $368,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Brooklyn Investment Group acquired a new position in Jones Lang LaSalle in the 3rd quarter valued at about $34,000. R Squared Ltd purchased a new position in shares of Jones Lang LaSalle in the fourth quarter valued at approximately $35,000. Principal Securities Inc. grew its holdings in shares of Jones Lang LaSalle by 166.7% in the fourth quarter. Principal Securities Inc. now owns 176 shares of the financial services provider’s stock valued at $45,000 after purchasing an additional 110 shares in the last quarter. MassMutual Private Wealth & Trust FSB increased its stake in Jones Lang LaSalle by 35.7% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 194 shares of the financial services provider’s stock worth $49,000 after buying an additional 51 shares during the period. Finally, V Square Quantitative Management LLC boosted its position in Jones Lang LaSalle by 52.9% in the 4th quarter. V Square Quantitative Management LLC now owns 208 shares of the financial services provider’s stock valued at $53,000 after buying an additional 72 shares during the period. 94.80% of the stock is currently owned by institutional investors and hedge funds.

Jones Lang LaSalle Price Performance

JLL stock opened at $261.16 on Monday. The business has a 50 day moving average price of $265.07 and a 200 day moving average price of $263.32. The company has a quick ratio of 2.29, a current ratio of 2.00 and a debt-to-equity ratio of 0.12. The stock has a market cap of $12.38 billion, a price-to-earnings ratio of 23.13 and a beta of 1.36. Jones Lang LaSalle Incorporated has a fifty-two week low of $171.45 and a fifty-two week high of $288.50.

Jones Lang LaSalle (NYSE:JLL) last issued its earnings results on Wednesday, February 19th. The financial services provider reported $6.15 earnings per share (EPS) for the quarter, beating 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 business had revenue of $6.81 billion during the quarter, compared to analysts’ expectations of $6.65 billion. During the same quarter in the prior year, the business posted $4.23 EPS. The company’s revenue for the quarter was up 15.8% on a year-over-year basis. Equities research analysts anticipate that Jones Lang LaSalle Incorporated will post 16.45 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on JLL shares. The Goldman Sachs Group began coverage on Jones Lang LaSalle in a research report on Friday, December 6th. They set a “buy” rating and a $352.00 price objective on the stock. JPMorgan Chase & Co. upped their price target on Jones Lang LaSalle from $263.00 to $327.00 and gave the stock an “overweight” rating in a report on Monday, December 16th. Raymond James boosted their price objective 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. Wolfe Research raised shares of Jones Lang LaSalle from a “peer perform” rating to an “outperform” rating and set a $353.00 target price on the stock in a report on Monday, November 25th. Finally, Keefe, Bruyette & Woods upgraded shares of Jones Lang LaSalle from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $292.00 to $325.00 in a research note on Tuesday, December 10th. Six analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $309.00.

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.