Castleark Management LLC Invests $533,000 in Jones Lang LaSalle Incorporated $JLL

Castleark Management LLC acquired a new stake in Jones Lang LaSalle Incorporated (NYSE:JLL) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 1,720 shares of the financial services provider’s stock, valued at approximately $533,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of JLL. BlackRock Inc. purchased a new position in Jones Lang LaSalle during the second quarter worth about $1,446,414,000. Price T Rowe Associates Inc. MD increased its position in shares of Jones Lang LaSalle by 17.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,180,514 shares of the financial services provider’s stock worth $397,209,000 after purchasing an additional 178,677 shares during the last quarter. Swedbank AB lifted its position in Jones Lang LaSalle by 0.5% during the fourth quarter. Swedbank AB now owns 993,742 shares of the financial services provider’s stock valued at $334,364,000 after purchasing an additional 4,543 shares during the last quarter. Geode Capital Management LLC lifted its position in Jones Lang LaSalle by 1.6% during the fourth quarter. Geode Capital Management LLC now owns 990,836 shares of the financial services provider’s stock valued at $333,451,000 after purchasing an additional 15,995 shares during the last quarter. Finally, AQR Capital Management LLC grew its stake in Jones Lang LaSalle by 426.7% in the 4th quarter. AQR Capital Management LLC now owns 899,625 shares of the financial services provider’s stock worth $302,697,000 after buying an additional 728,824 shares in the last quarter. Institutional investors own 94.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Raymond James Financial restated a “strong-buy” rating and set a $500.00 price objective on shares of Jones Lang LaSalle in a research report on Thursday, July 30th. Keefe, Bruyette & Woods increased their target price on Jones Lang LaSalle from $375.00 to $415.00 and gave the company an “outperform” rating in a research note on Monday, August 3rd. Barclays lifted their price target on Jones Lang LaSalle from $368.00 to $401.00 and gave the stock an “equal weight” rating in a research note on Monday, August 17th. Weiss Ratings upgraded Jones Lang LaSalle from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, August 18th. Finally, Zacks Research lowered Jones Lang LaSalle from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $433.60.

Jones Lang LaSalle Stock Performance

Jones Lang LaSalle stock opened at $385.60 on Thursday. The firm has a fifty day simple moving average of $341.03 and a two-hundred day simple moving average of $320.12. The company has a quick ratio of 2.40, a current ratio of 2.40 and a debt-to-equity ratio of 0.15. Jones Lang LaSalle Incorporated has a twelve month low of $259.83 and a twelve month high of $393.84. The company has a market capitalization of $17.74 billion, a PE ratio of 18.48 and a beta of 1.25.

Jones Lang LaSalle (NYSE:JLL) last announced its quarterly earnings data on Thursday, July 30th. The financial services provider reported $5.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.56 by $0.70. Jones Lang LaSalle had a return on equity of 13.99% and a net margin of 3.64%.The firm had revenue of $6.93 billion for the quarter, compared to analysts’ expectations of $6.88 billion. During the same period last year, the firm earned $3.30 earnings per share. The company’s revenue for the quarter was up 10.8% compared to the same quarter last year. Research analysts expect that Jones Lang LaSalle Incorporated will post 24.59 EPS for the current year.

Insider Buying and Selling

In other Jones Lang LaSalle news, Director Larry Quinlan sold 403 shares of Jones Lang LaSalle stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $295.14, for a total value of $118,941.42. Following the transaction, the director directly owned 4,771 shares of the company’s stock, valued at $1,408,112.94. The trade was a 7.79% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Christian Ulbrich sold 2,000 shares of the stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $385.53, for a total value of $771,060.00. Following the sale, the chief executive officer directly owned 138,418 shares of the company’s stock, valued at approximately $53,364,291.54. This trade represents a 1.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 6,805 shares of company stock worth $2,511,297 over the last ninety days. Insiders own 0.91% of the company’s stock.

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.