Cinctive Capital Management LP Boosts Position in Jones Lang LaSalle Incorporated (NYSE:JLL)

Cinctive Capital Management LP grew its position in Jones Lang LaSalle Incorporated (NYSE:JLL) by 11.7% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 24,642 shares of the financial services provider’s stock after purchasing an additional 2,582 shares during the period. Cinctive Capital Management LP’s holdings in Jones Lang LaSalle were worth $6,238,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. State Street Corp raised its position in Jones Lang LaSalle by 0.4% during the third quarter. State Street Corp now owns 1,423,831 shares of the financial services provider’s stock worth $384,164,000 after acquiring an additional 6,304 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Jones Lang LaSalle by 4.6% during the 4th quarter. Geode Capital Management LLC now owns 934,958 shares of the financial services provider’s stock worth $240,190,000 after purchasing an additional 41,331 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Jones Lang LaSalle by 6.3% during the 3rd quarter. Wellington Management Group LLP now owns 899,305 shares of the financial services provider’s stock worth $242,641,000 after purchasing an additional 53,066 shares during the last quarter. Norges Bank purchased a new stake in Jones Lang LaSalle in the 4th quarter valued at approximately $149,468,000. Finally, Arrowstreet Capital Limited Partnership grew its holdings in Jones Lang LaSalle by 13.7% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 542,675 shares of the financial services provider’s stock valued at $137,373,000 after buying an additional 65,407 shares during the last quarter. Institutional investors and hedge funds own 94.80% of the company’s stock.

Analyst Upgrades and Downgrades

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

Jones Lang LaSalle Price Performance

Jones Lang LaSalle stock opened at $245.74 on Wednesday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.29 and a current ratio of 2.00. The company has a market cap of $11.65 billion, a price-to-earnings ratio of 21.77 and a beta of 1.36. Jones Lang LaSalle Incorporated has a 1 year low of $171.45 and a 1 year high of $288.50. The firm has a 50 day moving average price of $265.95 and a 200 day moving average price of $264.61.

Jones Lang LaSalle (NYSE:JLL) last released its quarterly earnings data on Wednesday, February 19th. The financial services provider reported $6.15 EPS for the quarter, topping analysts’ consensus estimates of $5.76 by $0.39. Jones Lang LaSalle had a return on equity of 10.20% and a net margin of 2.33%. The business had revenue of $6.81 billion during the quarter, compared to the consensus estimate of $6.65 billion. During the same period in the prior year, the firm posted $4.23 EPS. The business’s revenue for the quarter was up 15.8% on a year-over-year basis. Sell-side analysts predict that Jones Lang LaSalle Incorporated will post 16.45 earnings per share for the current 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.