The Manufacturers Life Insurance Company Invests $8.58 Million in Jones Lang LaSalle Incorporated $JLL

The Manufacturers Life Insurance Company bought a new stake in shares of Jones Lang LaSalle Incorporated (NYSE:JLL) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 27,673 shares of the financial services provider’s stock, valued at approximately $8,577,000. The Manufacturers Life Insurance Company owned about 0.06% of Jones Lang LaSalle as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Sunbelt Securities Inc. purchased a new position in shares of Jones Lang LaSalle in the third quarter worth approximately $25,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Jones Lang LaSalle in the 2nd quarter worth approximately $26,000. International Assets Investment Management LLC purchased a new position in Jones Lang LaSalle during the 4th quarter worth approximately $29,000. Activest Wealth Management raised its stake in Jones Lang LaSalle by 1,720.0% during the 4th quarter. Activest Wealth Management now owns 91 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 86 shares during the period. Finally, Johnson Financial Group Inc. purchased a new stake in shares of Jones Lang LaSalle in the second quarter valued at $34,000. Institutional investors and hedge funds own 94.80% of the company’s stock.

Insiders Place Their Bets

In other Jones Lang LaSalle news, CEO Christian Ulbrich sold 2,000 shares of the firm’s stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $385.53, for a total transaction of $771,060.00. Following the transaction, the chief executive officer directly owned 138,418 shares in the company, valued at $53,364,291.54. This trade represents a 1.42% decrease in their ownership of the stock. The transaction was disclosed in a filing 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, Director Larry Quinlan sold 403 shares of the business’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $295.14, for a total value of $118,941.42. Following the completion of the sale, the director directly owned 4,771 shares of the company’s stock, valued at $1,408,112.94. This represents a 7.79% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 6,805 shares of company stock worth $2,511,297 in the last 90 days. 0.91% of the stock is owned by insiders.

Jones Lang LaSalle Stock Performance

Shares of JLL stock opened at $378.94 on Friday. Jones Lang LaSalle Incorporated has a fifty-two week low of $259.83 and a fifty-two week high of $393.84. The stock’s 50-day moving average is $344.31 and its two-hundred day moving average is $320.79. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.40 and a quick ratio of 2.40. The firm has a market cap of $17.44 billion, a P/E ratio of 18.16 and a beta of 1.25.

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

Analysts Set New Price Targets

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

Jones Lang LaSalle Company Profile

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.