Talen Energy Corporation (NASDAQ:TLN) Shares Sold by Jennison Associates LLC

Jennison Associates LLC decreased its stake in shares of Talen Energy Corporation (NASDAQ:TLN - Free Report) by 65.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 126,227 shares of the utilities provider's stock after selling 241,150 shares during the period. Jennison Associates LLC owned about 0.28% of Talen Energy worth $25,204,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Parcion Private Wealth LLC increased its stake in shares of Talen Energy by 49.1% in the first quarter. Parcion Private Wealth LLC now owns 1,901 shares of the utilities provider's stock worth $380,000 after purchasing an additional 626 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Talen Energy by 45.9% in the 1st quarter. Victory Capital Management Inc. now owns 14,098 shares of the utilities provider's stock worth $2,815,000 after acquiring an additional 4,438 shares during the last quarter. Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of Talen Energy by 5.3% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 17,161 shares of the utilities provider's stock worth $3,426,000 after acquiring an additional 871 shares during the last quarter. Whittier Trust Co. increased its stake in Talen Energy by 1.1% in the 1st quarter. Whittier Trust Co. now owns 32,788 shares of the utilities provider's stock worth $6,547,000 after buying an additional 368 shares during the period. Finally, Signaturefd LLC increased its stake in Talen Energy by 310.0% in the 1st quarter. Signaturefd LLC now owns 123 shares of the utilities provider's stock worth $25,000 after buying an additional 93 shares during the period. Institutional investors own 0.38% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on TLN shares. Susquehanna restated an "overweight" rating on shares of Talen Energy in a report on Thursday, June 12th. 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 price objective for the company. Oppenheimer set a $315.00 price target on shares of Talen Energy and gave the stock an "outperform" rating in a research report on Friday, July 11th. JPMorgan Chase & Co. cut their price objective on shares of Talen Energy from $295.00 to $265.00 and set an "overweight" rating for the company in a research report on Friday, March 28th. Finally, Wall Street Zen downgraded shares of Talen Energy from a "hold" rating to a "sell" rating in a research note on Friday. One equities research analyst has rated the stock with a sell rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, Talen Energy has a consensus rating of "Moderate Buy" and an average price target of $289.92.

Insider Activity

In other Talen Energy news, major shareholder Rubric Capital Management Lp sold 178,000 shares of the firm'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 directly owned 5,734,970 shares of the company's stock, valued at $1,697,780,518.80. This trade represents a 3.01% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last 90 days, insiders have sold 388,530 shares of company stock worth $114,090,933.

Talen Energy Stock Down 5.6%

NASDAQ:TLN traded down $18.49 during midday trading on Monday, hitting $310.14. 1,563,478 shares of the company were exchanged, compared to its average volume of 1,111,610. The company has a market capitalization of $14.11 billion, a PE ratio of 32.21, a price-to-earnings-growth ratio of 7.92 and a beta of 1.85. The company has a fifty day simple moving average of $267.33 and a 200 day simple moving average of $232.55. The company has a current ratio of 1.62, a quick ratio of 1.20 and a debt-to-equity ratio of 2.52. Talen Energy Corporation has a fifty-two week low of $98.50 and a fifty-two week high of $332.19.

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

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.