M&T Bank Corp Acquires 3,862,153 Shares of Jones Lang LaSalle Incorporated $JLL

M&T Bank Corp increased its holdings in shares of Jones Lang LaSalle Incorporated (NYSE:JLL) by 184,969.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,864,241 shares of the financial services provider’s stock after acquiring an additional 3,862,153 shares during the quarter. Jones Lang LaSalle comprises 3.9% of M&T Bank Corp’s investment portfolio, making the stock its 3rd biggest position. M&T Bank Corp owned about 0.08% of Jones Lang LaSalle worth $1,300,201,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Equity Investment Corp purchased a new position in Jones Lang LaSalle during the third quarter worth about $72,132,000. Hennessy Advisors Inc. purchased a new position in Jones Lang LaSalle during the third quarter worth about $40,417,000. Y Intercept Hong Kong Ltd purchased a new position in Jones Lang LaSalle during the third quarter worth about $1,143,000. Pacer Advisors Inc. raised its stake in Jones Lang LaSalle by 388.0% during the third quarter. Pacer Advisors Inc. now owns 8,653 shares of the financial services provider’s stock worth $2,581,000 after purchasing an additional 6,880 shares during the period. Finally, AustralianSuper Pty Ltd purchased a new position in Jones Lang LaSalle during the third quarter worth about $32,184,000. 94.80% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Jones Lang LaSalle

In other news, Director Deborah H. Mcaneny sold 2,500 shares of the stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $300.50, for a total value of $751,250.00. Following the completion of the transaction, the director owned 14,985 shares in the company, valued at $4,502,992.50. This trade represents a 14.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Richard Bloxam sold 5,440 shares of the stock in a transaction dated Tuesday, March 24th. The shares were sold at an average price of $296.94, for a total transaction of $1,615,353.60. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.91% of the company’s stock.

Jones Lang LaSalle Stock Down 2.1%

JLL stock opened at $345.93 on Wednesday. The company has a fifty day moving average price of $308.38 and a 200 day moving average price of $319.49. Jones Lang LaSalle Incorporated has a 12 month low of $207.92 and a 12 month high of $363.06. The company has a market cap of $16.21 billion, a price-to-earnings ratio of 21.08 and a beta of 1.41. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.23 and a quick ratio of 2.23.

Jones Lang LaSalle (NYSE:JLL) last announced its quarterly earnings data on Wednesday, February 18th. The financial services provider reported $8.71 EPS for the quarter, topping analysts’ consensus estimates of $7.25 by $1.46. The company had revenue of $7.61 billion during the quarter, compared to the consensus estimate of $7.45 billion. Jones Lang LaSalle had a net margin of 3.03% and a return on equity of 12.50%. Jones Lang LaSalle’s quarterly revenue was up 11.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $6.15 EPS. Sell-side analysts expect that Jones Lang LaSalle Incorporated will post 21.76 earnings per share for the current year.

Wall Street Analysts Forecast Growth

JLL has been the topic of a number of research analyst reports. Barclays reduced their price target on shares of Jones Lang LaSalle from $355.00 to $348.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 14th. Zacks Research raised shares of Jones Lang LaSalle from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 20th. UBS Group boosted their price target on shares of Jones Lang LaSalle from $410.00 to $425.00 and gave the company a “buy” rating in a research note on Monday, February 23rd. Keefe, Bruyette & Woods reduced their price target on shares of Jones Lang LaSalle from $405.00 to $380.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 24th. Finally, Wall Street Zen raised shares of Jones Lang LaSalle from a “buy” rating to a “strong-buy” rating in a research note on Sunday, January 11th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $362.00.

About Jones Lang LaSalle

Jones Lang LaSalle Incorporated (NYSE: JLL) is a leading professional services firm specializing in real estate and investment management. The company provides a broad range of services including leasing, advisory, property and asset management, capital markets, project and development services, and valuation. Through its integrated platform, JLL serves corporate occupiers, institutional investors, real estate owners and developers, offering tailored solutions that span the entire real estate lifecycle.

Founded in 1783 in London as Jones Lang Wootton, the firm established a reputation for expertise in property management and brokerage.