Itau Unibanco Holding S.A. Acquires 3,101 Shares of Talen Energy Corporation $TLN

Key Points

• Itau Unibanco Holding S.A. raised its stake in Talen Energy Corporation by 147.7% in Q1, acquiring a total of 5,200 shares valued at approximately $1,038,000.
• Several hedge funds, including Wells Fargo and Tower Research Capital, significantly increased their holdings in Talen Energy, reflecting strong interest from institutional investors.
• Analysts have a consensus “Buy” rating for Talen Energy, with a recent target price increase to as much as $427.00 from firms like Jefferies Financial Group and Melius Research.

Itau Unibanco Holding S.A. increased its holdings in Talen Energy Corporation (NASDAQ:TLN - Free Report) by 147.7% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,200 shares of the utilities provider's stock after purchasing an additional 3,101 shares during the quarter. Itau Unibanco Holding S.A.'s holdings in Talen Energy were worth $1,038,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in TLN. FORA Capital LLC purchased a new position in shares of Talen Energy in the first quarter valued at about $4,217,000. Nishkama Capital LLC purchased a new position in shares of Talen Energy in the first quarter valued at about $32,243,000. Comerica Bank increased its position in shares of Talen Energy by 11.1% in the first quarter. Comerica Bank now owns 69,331 shares of the utilities provider's stock valued at $13,843,000 after acquiring an additional 6,915 shares during the period. Northwestern Mutual Wealth Management Co. purchased a new position in shares of Talen Energy in the first quarter valued at about $240,000. Finally, Kestra Advisory Services LLC increased its position in shares of Talen Energy by 127.1% in the first quarter. Kestra Advisory Services LLC now owns 23,584 shares of the utilities provider's stock valued at $4,709,000 after acquiring an additional 13,198 shares during the period. Hedge funds and other institutional investors own 0.38% of the company's stock.

Insider Buying and Selling

In related news, major shareholder Rubric Capital Management Lp sold 178,000 shares of the business's stock in a transaction dated 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 of the company's stock, valued at $1,697,780,518.80. The trade was a 3.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold a total of 388,530 shares of company stock worth $114,090,933 over the last 90 days. Insiders own 0.18% of the company's stock.

Talen Energy Stock Down 2.4%

Shares of Talen Energy stock traded down $9.30 during trading on Friday, hitting $378.92. The company's stock had a trading volume of 1,200,932 shares, compared to its average volume of 1,305,642. Talen Energy Corporation has a 52 week low of $137.50 and a 52 week high of $394.25. The company has a market capitalization of $17.31 billion, a PE ratio of 107.34, a P/E/G ratio of 2.61 and a beta of 1.90. The company has a fifty day simple moving average of $333.48 and a two-hundred day simple moving average of $261.48. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.34 and a current ratio of 1.84.

Talen Energy (NASDAQ:TLN - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The utilities provider reported $1.50 EPS for the quarter, topping the consensus estimate of ($1.13) by $2.63. Talen Energy had a net margin of 8.75% and a return on equity of 17.81%. The business had revenue of $630.00 million for the quarter, compared to analyst estimates of $481.48 million. Equities research analysts predict that Talen Energy Corporation will post 15.94 earnings per share for the current year.

Analysts Set New Price Targets

TLN has been the topic of a number of analyst reports. Melius Research initiated coverage on shares of Talen Energy in a research report on Wednesday, August 20th. They issued a "buy" rating and a $427.00 price objective on the stock. Raymond James Financial initiated coverage on shares of Talen Energy in a research report on Friday, June 13th. They issued an "outperform" rating and a $314.00 price objective on the stock. Barclays boosted their price objective on shares of Talen Energy from $353.00 to $418.00 and gave the company an "overweight" rating in a research report on Wednesday, August 13th. Wall Street Zen raised shares of Talen Energy from a "sell" rating to a "hold" rating in a research note on Monday, August 11th. Finally, Melius began coverage on shares of Talen Energy in a research report on Wednesday, August 20th. They set a "buy" rating and a $427.00 price target on the stock. Sixteen equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, Talen Energy currently has a consensus rating of "Buy" and an average price target of $316.00.

About Talen Energy

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.