Principal Financial Group Inc. Buys 1,920 Shares of Talen Energy Corporation (NASDAQ:TLN)

Principal Financial Group Inc. boosted its holdings in Talen Energy Corporation (NASDAQ:TLN - Free Report) by 114.9% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,591 shares of the utilities provider's stock after acquiring an additional 1,920 shares during the quarter. Principal Financial Group Inc.'s holdings in Talen Energy were worth $717,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Wedbush Securities Inc. grew its position in Talen Energy by 5.1% during the 4th quarter. Wedbush Securities Inc. now owns 1,261 shares of the utilities provider's stock worth $254,000 after purchasing an additional 61 shares during the period. Golden State Wealth Management LLC acquired a new stake in shares of Talen Energy in the first quarter valued at approximately $35,000. Avior Wealth Management LLC boosted its holdings in shares of Talen Energy by 15.6% in the 1st quarter. Avior Wealth Management LLC now owns 1,484 shares of the utilities provider's stock valued at $296,000 after purchasing an additional 200 shares during the last quarter. State of Wyoming purchased a new stake in Talen Energy during the 4th quarter worth $50,000. Finally, Ameriprise Financial Inc. boosted its holdings in shares of Talen Energy by 6.1% in the 4th quarter. Ameriprise Financial Inc. now owns 4,518 shares of the utilities provider's stock valued at $910,000 after buying an additional 261 shares during the period. Hedge funds and other institutional investors own 0.38% of the company's stock.

Talen Energy Stock Down 5.6%

TLN stock traded down $18.49 during trading hours on Monday, hitting $310.14. The company's stock had a trading volume of 1,547,823 shares, compared to its average volume of 1,111,608. The company has a quick ratio of 1.20, a current ratio of 1.62 and a debt-to-equity ratio of 2.52. 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. Talen Energy Corporation has a 12 month low of $98.50 and a 12 month high of $332.19. The stock has a 50 day moving average price of $267.33 and a two-hundred day moving average price of $232.55.

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

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. JPMorgan Chase & Co. lowered 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. Wall Street Zen downgraded shares of Talen Energy from a "hold" rating to a "sell" rating in a report on Friday. Barclays raised their target price on shares of Talen Energy from $269.00 to $359.00 and gave the stock an "overweight" rating in a report on Friday. Oppenheimer set a $315.00 price objective on shares of Talen Energy and gave the company an "outperform" rating in a report on Friday, July 11th. Finally, Raymond James Financial began coverage on shares of Talen Energy in a report on Friday, June 13th. They issued an "outperform" rating and a $314.00 price objective on the stock. One investment analyst has rated the stock with a sell rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $289.92.

Insider Activity

In other Talen Energy news, major shareholder Rubric Capital Management Lp sold 178,000 shares of the stock in a transaction that occurred on Friday, June 27th. The stock was sold at an average price of $296.04, for a total transaction of $52,695,120.00. Following the transaction, the insider directly owned 5,734,970 shares in the company, valued at approximately $1,697,780,518.80. This represents a 3.01% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders sold a total of 388,530 shares of company stock valued at $114,090,933 over the last three months.

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.