Comerica Bank Raises Stock Holdings in Jones Lang LaSalle Inc (NYSE:JLL)

Comerica Bank lifted its holdings in shares of Jones Lang LaSalle Inc (NYSE:JLL) by 12.1% in the third quarter, HoldingsChannel.com reports. The fund owned 29,934 shares of the financial services provider’s stock after acquiring an additional 3,238 shares during the period. Comerica Bank’s holdings in Jones Lang LaSalle were worth $4,328,000 as of its most recent filing with the Securities and Exchange Commission.

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Several other institutional investors and hedge funds have also modified their holdings of the stock. California Public Employees Retirement System increased its position in shares of Jones Lang LaSalle by 4.8% during the third quarter. California Public Employees Retirement System now owns 146,556 shares of the financial services provider’s stock valued at $20,380,000 after acquiring an additional 6,661 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of Jones Lang LaSalle by 5.0% during the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 200,245 shares of the financial services provider’s stock valued at $27,846,000 after acquiring an additional 9,549 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its position in shares of Jones Lang LaSalle by 27.1% during the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 4,691 shares of the financial services provider’s stock valued at $652,000 after acquiring an additional 1,000 shares during the last quarter. Commonwealth Equity Services LLC increased its position in shares of Jones Lang LaSalle by 15.9% during the third quarter. Commonwealth Equity Services LLC now owns 2,269 shares of the financial services provider’s stock valued at $315,000 after acquiring an additional 312 shares during the last quarter. Finally, Smithfield Trust Co. purchased a new stake in shares of Jones Lang LaSalle during the third quarter valued at approximately $36,000. 82.72% of the stock is owned by institutional investors.

A number of brokerages recently commented on JLL. UBS Group increased their price target on Jones Lang LaSalle from $175.00 to $178.00 and gave the company a “buy” rating in a research report on Monday, August 12th. JPMorgan Chase & Co. began coverage on Jones Lang LaSalle in a research report on Wednesday, July 17th. They set an “overweight” rating and a $140.23 price target for the company. Finally, Barclays set a $179.00 price target on Jones Lang LaSalle and gave the company a “buy” rating in a research report on Friday, October 11th. Two analysts have rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company’s stock. Jones Lang LaSalle has a consensus rating of “Hold” and a consensus price target of $173.69.

Shares of NYSE JLL opened at $161.64 on Friday. The stock has a fifty day simple moving average of $142.47 and a two-hundred day simple moving average of $139.43. Jones Lang LaSalle Inc has a 1-year low of $119.79 and a 1-year high of $173.32. The firm has a market cap of $8.33 billion, a price-to-earnings ratio of 13.20, a price-to-earnings-growth ratio of 1.48 and a beta of 1.74. The company has a current ratio of 2.05, a quick ratio of 1.95 and a debt-to-equity ratio of 0.49.

Jones Lang LaSalle (NYSE:JLL) last announced its quarterly earnings data on Tuesday, November 5th. The financial services provider reported $3.52 earnings per share for the quarter, beating the consensus estimate of $2.73 by $0.79. Jones Lang LaSalle had a return on equity of 15.64% and a net margin of 2.64%. The business had revenue of $2.55 billion during the quarter, compared to analyst estimates of $2.45 billion. During the same period in the prior year, the company earned $3.02 earnings per share. Jones Lang LaSalle’s revenue was up 15.0% compared to the same quarter last year. Analysts forecast that Jones Lang LaSalle Inc will post 12.53 EPS for the current year.

Jones Lang LaSalle declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, November 5th that permits the company to buyback $200.00 million in shares. This buyback authorization permits the financial services provider to purchase up to 2.6% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its shares are undervalued.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 15th will be issued a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 1.06%. This is a positive change from Jones Lang LaSalle’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend is Thursday, November 14th. Jones Lang LaSalle’s dividend payout ratio is 7.02%.

About Jones Lang LaSalle

Jones Lang LaSalle Incorporated, a professional services company, provides commercial real estate and investment management services worldwide. It offers a range of real estate services, including agency leasing, logistics and supply-chain management, corporate finance, mortgage origination and servicing, debt placement, project and development management/design, digital, property management, energy and sustainability, real estate investment banking, integrated facilities management, research, investment management and advisory, strategic consulting and advisory, investment sale, tenant representation, lease administration, and valuations.

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Institutional Ownership by Quarter for Jones Lang LaSalle (NYSE:JLL)

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