Allspring Global Investments Holdings LLC lessened its stake in Talen Energy Corporation (NASDAQ:TLN - Free Report) by 9.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 257,438 shares of the utilities provider's stock after selling 27,972 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.57% of Talen Energy worth $84,460,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Flagship Harbor Advisors LLC purchased a new stake in shares of Talen Energy during the 4th quarter valued at about $27,000. Advisory Services Network LLC bought a new stake in Talen Energy during the third quarter valued at approximately $35,000. Northwestern Mutual Wealth Management Co. grew its position in Talen Energy by 1,500.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 96 shares of the utilities provider's stock valued at $36,000 after buying an additional 90 shares during the period. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Talen Energy during the fourth quarter valued at approximately $39,000. Finally, Rothschild Investment LLC raised its position in Talen Energy by 235.0% in the fourth quarter. Rothschild Investment LLC now owns 134 shares of the utilities provider's stock worth $50,000 after acquiring an additional 94 shares during the period. 0.38% of the stock is owned by institutional investors.
Insider Buying and Selling at Talen Energy
In other news, Director Gizman I. Abbas sold 2,600 shares of the stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $380.00, for a total value of $988,000.00. Following the sale, the director directly owned 2,606 shares in the company, valued at approximately $990,280. This represents a 49.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.78% of the company's stock.
Wall Street Analyst Weigh In
TLN has been the topic of several analyst reports. Barclays lifted their price target on shares of Talen Energy from $408.00 to $411.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 19th. Jefferies Financial Group lowered Talen Energy from a "buy" rating to a "hold" rating and set a $453.00 price objective for the company. in a research note on Tuesday, June 23rd. Scotiabank upped their price target on Talen Energy from $463.00 to $470.00 and gave the stock a "sector perform" rating in a research report on Wednesday. Weiss Ratings upgraded Talen Energy from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Thursday, May 7th. Finally, Morgan Stanley reissued an "overweight" rating and issued a $508.00 target price on shares of Talen Energy in a report on Wednesday, June 24th. Ten research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $475.08.
View Our Latest Stock Report on TLN
Talen Energy Price Performance
Talen Energy stock opened at $372.37 on Friday. The firm has a 50-day moving average price of $378.30 and a 200-day moving average price of $362.26. The firm has a market capitalization of $17.84 billion, a PE ratio of -555.77 and a beta of 1.82. The company has a current ratio of 1.25, a quick ratio of 1.05 and a debt-to-equity ratio of 6.32. Talen Energy Corporation has a 12-month low of $300.00 and a 12-month high of $451.28.
Talen Energy Profile
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Free Report)
Talen Energy Inc is an independent power producer that develops and operates a diversified portfolio of thermal and renewable generation facilities across the United States. The company supplies wholesale electricity and related services to utilities, large industrial customers, and power marketers, participating actively in regional markets such as PJM Interconnection and the Electric Reliability Council of Texas (ERCOT). Talen's asset base comprises a mix of natural gas-fired, coal-fired and nuclear generation, supplemented by battery storage and other flexible resources designed to support the evolving needs of the grid.
Established in December 2015 through the combination of the competitive generation businesses previously held by two major utility groups, Talen Energy was structured as a standalone, publicly traded entity on the NASDAQ stock exchange (TLN).
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