Fifth Third Bancorp Has $4.28 Million Stake in Talen Energy Corporation $TLN

Key Points

• Fifth Third Bancorp dramatically increased its stake in Talen Energy by 8,284.4% in the first quarter, ending with 13,415 shares valued at about $4.28 million.
• Institutional interest in Talen Energy remains limited but active, with several hedge funds and investors making small additions; however, insiders were net sellers, including director Gizman I. Abbas selling 2,600 shares for $988,000.
• Wall Street sentiment is broadly positive, with 10 Buy ratings and 4 Hold ratings, giving Talen Energy a consensus Moderate Buy and an average price target of about $475.08.

Fifth Third Bancorp raised its position in Talen Energy Corporation (NASDAQ:TLN - Free Report) by 8,284.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 13,415 shares of the utilities provider's stock after buying an additional 13,255 shares during the quarter. Fifth Third Bancorp's holdings in Talen Energy were worth $4,283,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Flagship Harbor Advisors LLC bought a new position in Talen Energy in the fourth quarter valued at approximately $27,000. Advisory Services Network LLC bought a new stake in Talen Energy during the third quarter worth $35,000. Northwestern Mutual Wealth Management Co. lifted its stake 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 worth $36,000 after purchasing an additional 90 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Talen Energy in the 4th quarter valued at $39,000. Finally, Rothschild Investment LLC increased its stake in shares of Talen Energy by 235.0% in the 4th quarter. Rothschild Investment LLC now owns 134 shares of the utilities provider's stock valued at $50,000 after purchasing an additional 94 shares during the last quarter. 0.38% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Gizman I. Abbas sold 2,600 shares of the company's stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $380.00, for a total transaction of $988,000.00. Following the transaction, the director 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.78% of the company's stock.

Analysts Set New Price Targets

TLN has been the topic of several research analyst reports. Wells Fargo & Company raised their price objective on Talen Energy from $465.00 to $477.00 and gave the company an "overweight" rating in a research note on Wednesday, May 6th. Weiss Ratings raised Talen Energy from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Thursday, May 7th. Scotiabank increased their price objective on Talen Energy from $463.00 to $470.00 and gave the company a "sector perform" rating in a report on Wednesday. Morgan Stanley reaffirmed an "overweight" rating and issued a $508.00 price objective on shares of Talen Energy in a research note on Wednesday, June 24th. Finally, Barclays boosted their price objective on Talen Energy from $408.00 to $411.00 and gave the company an "overweight" rating in a research note on Tuesday, May 19th. Ten research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $475.08.

Talen Energy Stock Up 1.1%

Talen Energy stock opened at $372.37 on Friday. The company has a quick ratio of 1.05, a current ratio of 1.25 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. The firm's fifty day moving average is $378.30 and its 200 day moving average is $362.26. The company has a market capitalization of $17.84 billion, a PE ratio of -555.77 and a beta of 1.82.

About Talen Energy

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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