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Jones Lang Lasalle (JLL): Hedge Fund Managed by David Blood and Al Gore Buffs JLL Stake to 2.3 Million Shares

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David Blood and Al Gore, the managers of Generation Investment Management, have decided to increase their fund’s bet on Jones Lang Lasalle Inc (NYSE:JLL). According to a filing with the Securities and Exchange Commission, Generation Investment Management now holds a little over 2.3 million shares of the company, up from 1.18 million shares reported in its 13F filing for the March 31 reporting period. The fund’s current position accounts for 5.1% of the company’s outstanding stock.

A provider of real estate and investment management services, Jones Lang Lasalle Inc (NYSE:JLL) has a market cap of $5.28 billion and pays an annual dividend of $0.60 per share, providing investors with an annual yield of 0.52%. Shares are currently trading at a trailing price-to-earnings multiple of 13, lower than the industry average of 28, per data compiled by Yahoo! Finance. On August 2, Jones Lang Lasalle reported its second quarter financial results, missing Wall Street’s estimates. The company posted adjusted earnings of $1.93 per share and revenue of $1.60 billion, the latter figure up by 16% year-over-year. Analysts, in turn, were looking for $1.98 in earnings per share on the back of $1.47 billion in revenue. The stock ended Friday’s session at $116.97 per share, down by 25% year-to-date.

David Blood

Hedge fund interest in Jones Lang Lasalle Inc (NYSE:JLL) cooled down a bit during the first quarter of 2016, as the number of long positions in the stock held by hedge funds in our database dropped to 28 at the end of March, from 31 a quarter earlier. John W. Rogers‘ Ariel Investments held 1.45 million shares of Jones Lang Lasalle at the end of March, up by 29% over the quarter, while Harris Associates, run by Natixis Global Asset Management, established a fresh position during the quarter that amassed 737,495 shares on March 31.

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You can access the original SEC filing by clicking here.

Ownership Summary Table

Name Sole Voting Power Shared Voting Power Sole Dispositive Power Shared Dispositive Power Aggregate Amount Owned Power Percent of Class
Generation Investment Management LLP 1,571,755 68,609 2,302,227 0 2,302,227 5.1%
David Blood And Al Gore
David Blood And Al Gore
Generation Investment Management

Page 1 of 6 – SEC Filing



 

UNITED STATES

SECURITIES AND EXCHANGE
COMMISSION
Washington, DC 20549

 

SCHEDULE 13G 

Under the Securities Exchange Act of 1934

(Amendment No. )* 

Jones Lang LaSalle Inc.
(Name of Issuer)
Common
Stock
(Title of Class of Securities)
48020Q107
(CUSIP Number)
July
26, 2016
(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the
rule pursuant to which this Schedule is filed:

o Rule
13d-1(b)

x Rule
13d-1(c)

o Rule
13d-1(d)

*The remainder of this cover page shall be
filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for
any subsequent amendment containing information which would alter disclosures provided in a prior cover page.

The information required in the remainder of
this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934
(“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions
of the Act (however, see the Notes).


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