Assenagon Asset Management S.A. Takes Position in Talen Energy Corporation $TLN

Key Points

• Assenagon Asset Management S.A. acquired 313,783 shares of Talen Energy Corporation, valued at approximately $91.24 million, representing 0.69% ownership.
• Analysts have set a consensus target price of $354.29 for Talen Energy, with ratings ranging from "outperform" to "hold" from major financial institutions.
• Major shareholder Rubric Capital Management sold 178,000 shares of Talen Energy, reducing their ownership by 3.01% to approximately 5.73 million shares.

Assenagon Asset Management S.A. purchased a new position in shares of Talen Energy Corporation (NASDAQ:TLN - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 313,783 shares of the utilities provider's stock, valued at approximately $91,239,000. Assenagon Asset Management S.A. owned approximately 0.69% of Talen Energy at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TLN. Russell Investments Group Ltd. increased its stake in shares of Talen Energy by 75.8% during the 1st quarter. Russell Investments Group Ltd. now owns 17,502 shares of the utilities provider's stock worth $3,495,000 after purchasing an additional 7,547 shares during the last quarter. Crescent Grove Advisors LLC acquired a new position in Talen Energy in the 1st quarter valued at about $285,000. Thoroughbred Financial Services LLC acquired a new position in shares of Talen Energy during the 1st quarter worth approximately $756,000. TCW Group Inc. acquired a new position in shares of Talen Energy during the 1st quarter worth approximately $9,266,000. Finally, Principal Financial Group Inc. grew its position in shares of Talen Energy by 114.9% during the 1st quarter. Principal Financial Group Inc. now owns 3,591 shares of the utilities provider's stock worth $717,000 after purchasing an additional 1,920 shares in the last quarter. 0.38% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on TLN shares. UBS Group set a $431.00 target price on shares of Talen Energy and gave the stock a "buy" rating in a research report on Friday, July 25th. Barclays increased their target price on shares of Talen Energy from $418.00 to $440.00 and gave the stock an "overweight" rating in a research report on Thursday, September 11th. Raymond James Financial started coverage on shares of Talen Energy in a research report on Friday, June 13th. They set an "outperform" rating and a $314.00 target price on the stock. Oppenheimer set a $315.00 target price on shares of Talen Energy and gave the stock an "outperform" rating in a research report on Friday, July 11th. Finally, Melius Research upped their price target on shares of Talen Energy from $427.00 to $576.00 and gave the stock a "buy" rating in a report on Wednesday, September 10th. Fifteen research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $358.53.

Talen Energy Stock Down 1.5%

NASDAQ:TLN traded down $6.47 during trading hours on Tuesday, reaching $423.25. The company had a trading volume of 391,534 shares, compared to its average volume of 1,162,532. The firm has a market cap of $19.34 billion, a price-to-earnings ratio of 120.05, a P/E/G ratio of 2.24 and a beta of 1.89. The business's 50-day simple moving average is $369.81 and its two-hundred day simple moving average is $282.20. Talen Energy Corporation has a twelve month low of $148.02 and a twelve month high of $430.71. The company has a quick ratio of 1.34, a current ratio of 1.84 and a debt-to-equity ratio of 2.39.

Talen Energy (NASDAQ:TLN - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The utilities provider reported $1.50 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($1.13) by $2.63. Talen Energy had a net margin of 8.75% and a return on equity of 17.81%. The firm had revenue of $630.00 million during the quarter, compared to analysts' expectations of $481.48 million. On average, equities analysts expect that Talen Energy Corporation will post 15.94 earnings per share for the current year.

Insider Buying and Selling

In other Talen Energy news, major shareholder Rubric Capital Management Lp sold 178,000 shares of Talen Energy stock in a transaction dated Friday, June 27th. The shares were sold at an average price of $296.04, for a total value of $52,695,120.00. Following the sale, the insider owned 5,734,970 shares of the company's stock, valued at approximately $1,697,780,518.80. The trade was a 3.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have sold a total of 388,530 shares of company stock valued at $114,090,933 over the last 90 days.

Talen Energy Company Profile

Talen Energy Corporation is a U.S.-based energy and power generation company. The Company owns or controls approximately 16,000 megawatts of capacity in wholesale power markets, principally in the Northeast, Mid-Atlantic and Southwest regions of the United States. The Company generates and sells electricity, capacity and related products from power plants that use fuel sources, such as nuclear, natural gas and coal.