PNC Financial Services Group Inc. Reduces Holdings in Talen Energy Corporation $TLN

PNC Financial Services Group Inc. cut its holdings in shares of Talen Energy Corporation (NASDAQ:TLN - Free Report) by 67.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,106 shares of the utilities provider's stock after selling 2,241 shares during the quarter. PNC Financial Services Group Inc.'s holdings in Talen Energy were worth $221,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Signaturefd LLC grew its position in shares of Talen Energy by 310.0% during the 1st quarter. Signaturefd LLC now owns 123 shares of the utilities provider's stock worth $25,000 after purchasing an additional 93 shares in the last quarter. Golden State Wealth Management LLC acquired a new stake in Talen Energy in the first quarter valued at approximately $35,000. LRI Investments LLC raised its stake in shares of Talen Energy by 179.0% during the first quarter. LRI Investments LLC now owns 173 shares of the utilities provider's stock valued at $35,000 after acquiring an additional 111 shares during the last quarter. N.E.W. Advisory Services LLC bought a new position in shares of Talen Energy during the first quarter valued at $35,000. Finally, IFP Advisors Inc raised its stake in shares of Talen Energy by 42.4% during the first quarter. IFP Advisors Inc now owns 188 shares of the utilities provider's stock valued at $38,000 after acquiring an additional 56 shares during the last quarter. 0.38% of the stock is owned by institutional investors.

Insider Activity

In related news, major shareholder Rubric Capital Management Lp sold 178,000 shares of the 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 completion of the transaction, the insider directly owned 5,734,970 shares in the company, valued at $1,697,780,518.80. This trade represents a 3.01% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last three months, insiders have sold 388,530 shares of company stock valued at $114,090,933.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on TLN. Melius started coverage on shares of Talen Energy in a research note on Wednesday. They set a "buy" rating and a $427.00 target price for the company. Raymond James Financial initiated coverage on shares of Talen Energy in a report on Friday, June 13th. They set an "outperform" rating and a $314.00 price target on the stock. UBS Group set a $431.00 price objective on shares of Talen Energy and gave the stock a "buy" rating in a research report on Friday, July 25th. Melius Research started coverage on shares of Talen Energy in a research report on Wednesday. They issued a "buy" rating and a $427.00 price target on the stock. Finally, Oppenheimer set a $315.00 price target on shares of Talen Energy and gave the company an "outperform" rating in a research report on Friday, July 11th. Sixteen equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the company currently has an average rating of "Buy" and an average target price of $316.00.

Talen Energy Trading Down 2.2%

Shares of Talen Energy stock traded down $8.06 during trading on Wednesday, reaching $360.10. The company's stock had a trading volume of 961,412 shares, compared to its average volume of 1,169,000. Talen Energy Corporation has a 52-week low of $136.56 and a 52-week high of $394.07. The company has a market cap of $16.45 billion, a price-to-earnings ratio of 102.01, a PEG ratio of 2.77 and a beta of 1.90. The firm's 50-day moving average is $319.60 and its two-hundred day moving average is $254.06. 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 posted its quarterly earnings results on Thursday, August 7th. The utilities provider reported $1.50 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 company had revenue of $630.00 million during the quarter, compared to analyst estimates of $481.48 million. On average, sell-side analysts anticipate that Talen Energy Corporation will post 15.94 earnings per share for the current 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.