Lord Abbett & CO. LLC Makes New $24.28 Million Investment in Jones Lang LaSalle Incorporated (NYSE:JLL)

Lord Abbett & CO. LLC acquired a new stake in shares of Jones Lang LaSalle Incorporated (NYSE:JLL) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 90,000 shares of the financial services provider’s stock, valued at approximately $24,283,000. Lord Abbett & CO. LLC owned about 0.19% of Jones Lang LaSalle at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Huntington National Bank increased its holdings in Jones Lang LaSalle by 22.9% during the 3rd quarter. Huntington National Bank now owns 204 shares of the financial services provider’s stock worth $55,000 after purchasing an additional 38 shares in the last quarter. Massmutual Trust Co. FSB ADV grew its holdings in Jones Lang LaSalle by 37.5% during the third quarter. Massmutual Trust Co. FSB ADV now owns 143 shares of the financial services provider’s stock worth $39,000 after buying an additional 39 shares in the last quarter. CIBC Asset Management Inc raised its position in Jones Lang LaSalle by 3.5% in the 3rd quarter. CIBC Asset Management Inc now owns 1,375 shares of the financial services provider’s stock valued at $371,000 after buying an additional 47 shares during the last quarter. Parallel Advisors LLC lifted its stake in Jones Lang LaSalle by 3.1% during the 2nd quarter. Parallel Advisors LLC now owns 1,625 shares of the financial services provider’s stock valued at $334,000 after acquiring an additional 49 shares in the last quarter. Finally, First Bank & Trust boosted its holdings in Jones Lang LaSalle by 2.5% during the 3rd quarter. First Bank & Trust now owns 2,251 shares of the financial services provider’s stock worth $607,000 after acquiring an additional 54 shares during the last quarter. Institutional investors and hedge funds own 94.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Wolfe Research raised shares of Jones Lang LaSalle from a “peer perform” rating to an “outperform” rating and set a $353.00 price target on the stock in a research report on Monday, November 25th. StockNews.com upgraded Jones Lang LaSalle from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 13th. Keefe, Bruyette & Woods raised Jones Lang LaSalle from a “market perform” rating to an “outperform” rating and increased their price target for the company from $292.00 to $325.00 in a research report on Tuesday, December 10th. Finally, The Goldman Sachs Group started coverage on Jones Lang LaSalle in a research report on Friday, December 6th. They issued a “buy” rating and a $352.00 price objective on the stock. Six analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Jones Lang LaSalle currently has a consensus rating of “Buy” and a consensus target price of $287.71.

Jones Lang LaSalle Price Performance

Shares of NYSE JLL opened at $269.58 on Monday. The firm has a market cap of $12.79 billion, a price-to-earnings ratio of 27.26 and a beta of 1.34. The stock has a fifty day simple moving average of $269.20 and a two-hundred day simple moving average of $246.31. The company has a current ratio of 2.29, a quick ratio of 2.29 and a debt-to-equity ratio of 0.16. Jones Lang LaSalle Incorporated has a 1-year low of $167.11 and a 1-year high of $288.50.

Jones Lang LaSalle (NYSE:JLL) last announced its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $3.50 earnings per share for the quarter, topping the consensus estimate of $2.67 by $0.83. The company had revenue of $5.87 billion during the quarter, compared to analyst estimates of $5.62 billion. Jones Lang LaSalle had a return on equity of 8.95% and a net margin of 2.12%. The firm’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same quarter last year, the firm posted $2.01 EPS. Analysts anticipate that Jones Lang LaSalle Incorporated will post 13.37 earnings per share for the current year.

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.