Norges Bank Invests $149.47 Million in Jones Lang LaSalle Incorporated (NYSE:JLL)

Norges Bank purchased a new stake in Jones Lang LaSalle Incorporated (NYSE:JLL) during the 4th quarter, HoldingsChannel.com reports. The fund purchased 590,457 shares of the financial services provider’s stock, valued at approximately $149,468,000.

Other hedge funds have also recently bought and sold shares of the company. SG Americas Securities LLC lifted its holdings in Jones Lang LaSalle by 7,967.8% during the 4th quarter. SG Americas Securities LLC now owns 279,065 shares of the financial services provider’s stock worth $70,643,000 after purchasing an additional 275,606 shares during the last quarter. William Blair Investment Management LLC acquired a new stake in shares of Jones Lang LaSalle during the fourth quarter worth $29,271,000. Allspring Global Investments Holdings LLC boosted its position in shares of Jones Lang LaSalle by 688.4% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 130,752 shares of the financial services provider’s stock valued at $32,603,000 after acquiring an additional 114,168 shares during the period. Raymond James Financial Inc. bought a new position in Jones Lang LaSalle during the fourth quarter worth about $26,487,000. Finally, Lord Abbett & CO. LLC acquired a new stake in Jones Lang LaSalle in the 3rd quarter worth about $24,283,000. 94.80% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently commented on JLL shares. Raymond James raised their target price on shares of Jones Lang LaSalle from $317.00 to $320.00 and gave the stock a “strong-buy” rating in a report on Friday, January 24th. StockNews.com raised Jones Lang LaSalle from a “buy” rating to a “strong-buy” rating in a report on Saturday, March 22nd. Keefe, Bruyette & Woods raised Jones Lang LaSalle from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $292.00 to $325.00 in a report on Tuesday, December 10th. The Goldman Sachs Group initiated coverage on shares of Jones Lang LaSalle in a research report on Friday, December 6th. They set a “buy” rating and a $352.00 price objective for the company. Finally, JPMorgan Chase & Co. boosted their target price on shares of Jones Lang LaSalle from $263.00 to $327.00 and gave the company an “overweight” rating in a research report on Monday, December 16th. Six analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $309.00.

Jones Lang LaSalle Stock Up 0.9 %

JLL stock opened at $248.13 on Tuesday. The stock has a market capitalization of $11.76 billion, a P/E ratio of 21.98 and a beta of 1.36. The company has a current ratio of 2.00, a quick ratio of 2.29 and a debt-to-equity ratio of 0.12. The firm has a 50-day moving average price of $266.45 and a 200-day moving average price of $264.67. Jones Lang LaSalle Incorporated has a 12 month low of $171.45 and a 12 month high of $288.50.

Jones Lang LaSalle (NYSE:JLL) last issued its earnings results on Wednesday, February 19th. The financial services provider reported $6.15 earnings per share for the quarter, beating analysts’ consensus estimates of $5.76 by $0.39. Jones Lang LaSalle had a net margin of 2.33% and a return on equity of 10.20%. The firm had revenue of $6.81 billion for the quarter, compared to analyst estimates of $6.65 billion. During the same quarter last year, the business posted $4.23 earnings per share. The company’s quarterly revenue was up 15.8% on a year-over-year basis. As a group, equities research analysts anticipate that Jones Lang LaSalle Incorporated will post 16.45 EPS for the current fiscal year.

Jones Lang LaSalle Company 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.