State of Michigan Retirement System Grows Stock Position in Jones Lang LaSalle Incorporated (NYSE:JLL)

State of Michigan Retirement System boosted its position in Jones Lang LaSalle Incorporated (NYSE:JLL) by 2.6% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 11,711 shares of the financial services provider’s stock after purchasing an additional 300 shares during the period. State of Michigan Retirement System’s holdings in Jones Lang LaSalle were worth $2,285,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Dimensional Fund Advisors LP increased 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 buying an additional 142,887 shares during the last quarter. Equity Investment Corp grew its position in shares of Jones Lang LaSalle by 2.9% in the fourth quarter. Equity Investment Corp now owns 418,115 shares of the financial services provider’s stock valued at $78,969,000 after purchasing an additional 11,785 shares in the last quarter. Allianz Asset Management GmbH grew its position in shares of Jones Lang LaSalle by 112.2% in the fourth quarter. Allianz Asset Management GmbH now owns 60,729 shares of the financial services provider’s stock valued at $11,470,000 after purchasing an additional 32,104 shares in the last quarter. Assenagon Asset Management S.A. purchased a new position in shares of Jones Lang LaSalle in the fourth quarter valued at $5,148,000. Finally, TD Asset Management Inc purchased a new position in shares of Jones Lang LaSalle in the fourth quarter valued at $10,722,000. 94.80% of the stock is owned by hedge funds and other institutional investors.

Jones Lang LaSalle Trading Up 1.5 %

Shares of JLL stock opened at $206.51 on Thursday. The company has a quick ratio of 2.35, a current ratio of 2.35 and a debt-to-equity ratio of 0.34. The business has a 50-day moving average price of $198.44 and a two-hundred day moving average price of $188.39. Jones Lang LaSalle Incorporated has a 12-month low of $119.46 and a 12-month high of $213.33. The firm has a market cap of $9.82 billion, a P/E ratio of 33.20 and a beta of 1.38.

Jones Lang LaSalle (NYSE:JLL) last issued its quarterly earnings results on Monday, May 6th. The financial services provider reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.93. Jones Lang LaSalle had a return on equity of 6.55% and a net margin of 1.42%. The firm had revenue of $5.12 billion during the quarter, compared to analyst estimates of $4.82 billion. During the same quarter in the previous year, the company posted $0.65 earnings per share. The company’s revenue was up 8.7% compared to the same quarter last year. Equities analysts anticipate that Jones Lang LaSalle Incorporated will post 12.36 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Raymond James upgraded Jones Lang LaSalle from an “outperform” rating to a “strong-buy” rating and lifted their price target for the company from $218.00 to $246.00 in a research report on Wednesday, April 3rd. Jefferies Financial Group started coverage on Jones Lang LaSalle in a research report on Wednesday, April 10th. They set a “buy” rating and a $246.00 target price for the company. StockNews.com cut Jones Lang LaSalle from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 21st. JPMorgan Chase & Co. boosted their target price on Jones Lang LaSalle from $215.00 to $230.00 and gave the stock an “overweight” rating in a research report on Friday, June 21st. Finally, Wolfe Research restated a “peer perform” rating on shares of Jones Lang LaSalle in a research report on Tuesday, April 9th. Three equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company 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.