Convergence Investment Partners LLC Acquires Shares of 3,594 Jones Lang LaSalle Incorporated $JLL

Convergence Investment Partners LLC acquired a new position in shares of Jones Lang LaSalle Incorporated (NYSE:JLL) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 3,594 shares of the financial services provider’s stock, valued at approximately $1,094,000.

Other large investors have also modified their holdings of the company. Sunbelt Securities Inc. purchased a new stake in shares of Jones Lang LaSalle during the 3rd quarter valued at about $25,000. International Assets Investment Management LLC purchased a new stake in shares of Jones Lang LaSalle during the fourth quarter valued at approximately $29,000. Activest Wealth Management boosted its stake in shares of Jones Lang LaSalle by 1,720.0% in the fourth 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. Hilton Head Capital Partners LLC purchased a new stake in Jones Lang LaSalle during the 4th quarter worth $35,000. Finally, True Wealth Design LLC boosted its position in Jones Lang LaSalle by 13,200.0% in the 4th quarter. True Wealth Design LLC now owns 133 shares of the financial services provider’s stock valued at $45,000 after buying an additional 132 shares during the last quarter. Institutional investors and hedge funds own 94.80% of the company’s stock.

Jones Lang LaSalle Stock Performance

Shares of JLL stock opened at $324.55 on Wednesday. The stock has a market capitalization of $15.06 billion, a price-to-earnings ratio of 17.45 and a beta of 1.27. Jones Lang LaSalle Incorporated has a one year low of $253.21 and a one year high of $363.06. The company’s 50-day simple moving average is $305.27 and its 200-day simple moving average is $317.56. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.35 and a current ratio of 2.35.

Jones Lang LaSalle (NYSE:JLL) last announced its quarterly earnings data on Thursday, April 30th. The financial services provider reported $3.43 earnings per share for the quarter, beating the consensus estimate of $3.01 by $0.42. Jones Lang LaSalle had a return on equity of 13.01% and a net margin of 3.35%.The firm had revenue of $6.39 billion during the quarter, compared to analyst estimates of $6 billion. During the same period in the previous year, the company earned $2.31 earnings per share. Jones Lang LaSalle’s quarterly revenue was up 11.1% on a year-over-year basis. Equities analysts anticipate that Jones Lang LaSalle Incorporated will post 22.83 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Larry Quinlan sold 402 shares of the firm’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $301.73, for a total transaction of $121,295.46. Following the transaction, the director directly owned 4,369 shares in the company, valued at $1,318,258.37. This trade represents a 8.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.91% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on JLL shares. Zacks Research raised Jones Lang LaSalle from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, June 24th. Barclays raised their price objective on Jones Lang LaSalle from $348.00 to $366.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 13th. Weiss Ratings downgraded Jones Lang LaSalle from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, May 28th. Finally, UBS Group increased their target price on Jones Lang LaSalle from $425.00 to $445.00 and gave the company a “buy” rating in a research note on Wednesday, April 22nd. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, Jones Lang LaSalle presently has a consensus rating of “Buy” and a consensus target price of $394.00.

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.