Axxcess Wealth Management LLC Buys New Holdings in Talen Energy Corporation (NASDAQ:TLN)

Axxcess Wealth Management LLC bought a new stake in Talen Energy Corporation (NASDAQ:TLN - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 3,879 shares of the utilities provider's stock, valued at approximately $775,000.

Several other hedge funds have also bought and sold shares of TLN. Vanguard Group Inc. raised its holdings in Talen Energy by 5.7% in the 4th quarter. Vanguard Group Inc. now owns 4,786,331 shares of the utilities provider's stock valued at $964,302,000 after acquiring an additional 256,414 shares during the period. William Blair Investment Management LLC bought a new position in Talen Energy in the 4th quarter valued at about $239,984,000. Lone Pine Capital LLC raised its holdings in Talen Energy by 27.2% in the 4th quarter. Lone Pine Capital LLC now owns 1,089,380 shares of the utilities provider's stock valued at $219,477,000 after acquiring an additional 233,165 shares during the period. Fred Alger Management LLC raised its holdings in Talen Energy by 152.9% in the 4th quarter. Fred Alger Management LLC now owns 954,747 shares of the utilities provider's stock valued at $192,353,000 after acquiring an additional 577,257 shares during the period. Finally, Invesco Ltd. raised its holdings in Talen Energy by 32.8% in the 4th quarter. Invesco Ltd. now owns 652,478 shares of the utilities provider's stock valued at $131,455,000 after acquiring an additional 161,269 shares during the period. 0.38% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, major shareholder Rubric Capital Management Lp sold 178,000 shares of the stock in a transaction that occurred on Friday, June 27th. The shares were sold at an average price of $296.04, for a total transaction of $52,695,120.00. Following the sale, the insider owned 5,734,970 shares in the company, valued at approximately $1,697,780,518.80. This trade represents a 3.01% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In the last quarter, insiders have sold 388,530 shares of company stock worth $114,090,933. Company insiders own 0.18% of the company's stock.

Talen Energy Stock Performance

NASDAQ TLN opened at $276.17 on Friday. The company has a current ratio of 1.62, a quick ratio of 1.20 and a debt-to-equity ratio of 2.52. The firm has a market capitalization of $12.57 billion, a price-to-earnings ratio of 28.68, a P/E/G ratio of 6.42 and a beta of 1.85. The firm's 50 day simple moving average is $262.04 and its 200 day simple moving average is $229.49. Talen Energy Corporation has a 1 year low of $98.50 and a 1 year high of $301.70.

Talen Energy (NASDAQ:TLN - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The utilities provider reported $0.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.17 by ($0.35). The firm had revenue of $390.00 million for the quarter, compared to analyst estimates of $556.93 million. Talen Energy had a return on equity of 11.47% and a net margin of 28.51%. As a group, research analysts expect that Talen Energy Corporation will post 15.94 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

TLN has been the topic of several research analyst reports. JPMorgan Chase & Co. lowered their price target on shares of Talen Energy from $295.00 to $265.00 and set an "overweight" rating on the stock in a report on Friday, March 28th. Raymond James Financial assumed coverage on shares of Talen Energy in a report on Friday, June 13th. They set an "outperform" rating and a $314.00 target price on the stock. Wall Street Zen raised shares of Talen Energy from a "sell" rating to a "hold" rating in a report on Monday, June 30th. Oppenheimer raised their target price on shares of Talen Energy from $250.00 to $315.00 and gave the stock an "outperform" rating in a report on Friday. Finally, Susquehanna reaffirmed an "overweight" rating on shares of Talen Energy in a report on Thursday, June 12th. One analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $260.67.

Talen Energy 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.

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