Retirement Systems of Alabama Purchases 18,156 Shares of Jones Lang LaSalle Incorporated (NYSE:JLL)

Retirement Systems of Alabama raised its position in Jones Lang LaSalle Incorporated (NYSE:JLL) by 25.5% during the first quarter, Holdings Channel reports. The fund owned 89,283 shares of the financial services provider’s stock after acquiring an additional 18,156 shares during the period. Retirement Systems of Alabama’s holdings in Jones Lang LaSalle were worth $17,418,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Morgan Stanley lifted its stake in shares of Jones Lang LaSalle by 2.1% in the 3rd quarter. Morgan Stanley now owns 1,673,462 shares of the financial services provider’s stock worth $236,260,000 after purchasing an additional 35,004 shares during the period. Dimensional Fund Advisors LP raised its position in Jones Lang LaSalle by 11.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,426,954 shares of the financial services provider’s stock worth $269,512,000 after acquiring an additional 142,887 shares during the period. Boston Trust Walden Corp grew its position in shares of Jones Lang LaSalle by 20.4% during the 4th quarter. Boston Trust Walden Corp now owns 710,236 shares of the financial services provider’s stock valued at $134,142,000 after acquiring an additional 120,105 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of Jones Lang LaSalle by 84.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 589,128 shares of the financial services provider’s stock worth $111,270,000 after purchasing an additional 270,404 shares in the last quarter. Finally, Norges Bank bought a new position in Jones Lang LaSalle in the 4th quarter worth $97,222,000. 94.80% of the stock is owned by hedge funds and other institutional investors.

Jones Lang LaSalle Price Performance

JLL stock traded down $4.44 during midday trading on Friday, hitting $202.15. The company’s stock had a trading volume of 314,654 shares, compared to its average volume of 273,093. The firm has a market capitalization of $9.61 billion, a price-to-earnings ratio of 33.21 and a beta of 1.38. The company has a quick ratio of 2.35, a current ratio of 2.35 and a debt-to-equity ratio of 0.34. Jones Lang LaSalle Incorporated has a 12 month low of $119.46 and a 12 month high of $213.33. The company has a 50 day moving average of $198.96 and a two-hundred day moving average of $188.51.

Jones Lang LaSalle (NYSE:JLL) last posted its earnings results on Monday, May 6th. The financial services provider reported $1.78 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.93. The company had revenue of $5.12 billion during the quarter, compared to analysts’ expectations of $4.82 billion. Jones Lang LaSalle had a net margin of 1.42% and a return on equity of 6.55%. Jones Lang LaSalle’s quarterly revenue was up 8.7% on a year-over-year basis. During the same period last year, the company posted $0.65 earnings per share. On average, analysts expect that Jones Lang LaSalle Incorporated will post 12.36 EPS for the current year.

Analysts Set New Price Targets

Several analysts have issued reports on JLL shares. UBS Group boosted their price target on Jones Lang LaSalle from $225.00 to $240.00 and gave the company a “buy” rating in a report on Wednesday. StockNews.com downgraded Jones Lang LaSalle from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 21st. Raymond James upgraded shares of Jones Lang LaSalle from an “outperform” rating to a “strong-buy” rating and raised their target price for the stock from $218.00 to $246.00 in a research note on Wednesday, April 3rd. Jefferies Financial Group started coverage on shares of Jones Lang LaSalle in a research report on Wednesday, April 10th. They issued a “buy” rating and a $246.00 price target for the company. Finally, JPMorgan Chase & Co. raised their price objective on shares of Jones Lang LaSalle from $215.00 to $230.00 and gave the company an “overweight” rating in a research report on Friday, June 21st. Three analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Jones Lang LaSalle currently has an average rating of “Moderate Buy” and an average price target of $223.33.

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.