Principal Financial Group Inc. Grows Stake in Talen Energy Corporation $TLN

Key Points

• Principal Financial Group Inc. increased its stake in Talen Energy by 3.8% in the first quarter, buying 3,718 additional shares and bringing its total holding to 101,953 shares valued at about $32.5 million.
• Other institutional investors also added to or initiated positions in TLN, though hedge funds and institutions still own only 0.38% of the stock overall.
• Analyst sentiment remains mostly positive: ten analysts rate Talen Energy a Buy and four rate it Hold, with a consensus Moderate Buy target price of $475.08 even after Jefferies downgraded the stock to Hold.

Principal Financial Group Inc. increased its stake in shares of Talen Energy Corporation (NASDAQ:TLN - Free Report) by 3.8% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 101,953 shares of the utilities provider's stock after purchasing an additional 3,718 shares during the period. Principal Financial Group Inc. owned 0.22% of Talen Energy worth $32,546,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of TLN. Flagship Harbor Advisors LLC purchased a new stake in Talen Energy during the 4th quarter worth approximately $27,000. Advisory Services Network LLC acquired a new stake in shares of Talen Energy in the third quarter worth approximately $35,000. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Talen Energy by 1,500.0% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 96 shares of the utilities provider's stock worth $36,000 after acquiring an additional 90 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Talen Energy during the fourth quarter worth approximately $39,000. Finally, Rothschild Investment LLC increased its position in shares of Talen Energy by 235.0% during the fourth quarter. Rothschild Investment LLC now owns 134 shares of the utilities provider's stock worth $50,000 after purchasing an additional 94 shares in the last quarter. 0.38% of the stock is owned by hedge funds and other institutional investors.

Talen Energy Stock Performance

NASDAQ TLN opened at $372.37 on Monday. The stock's fifty day moving average is $378.30 and its two-hundred day moving average is $362.13. The firm has a market capitalization of $17.84 billion, a P/E ratio of -555.77 and a beta of 1.82. The company has a debt-to-equity ratio of 6.32, a quick ratio of 1.05 and a current ratio of 1.25. Talen Energy Corporation has a fifty-two week low of $300.00 and a fifty-two week high of $451.28.

Insider Activity at Talen Energy

In other news, Director Gizman I. Abbas sold 2,600 shares of Talen Energy stock in a transaction on Monday, June 15th. The stock was 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 $990,280. The trade was a 49.94% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.78% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

TLN has been the topic of a number of research reports. Jefferies Financial Group lowered Talen Energy from a "buy" rating to a "hold" rating and set a $453.00 price objective on the stock. in a report on Tuesday, June 23rd. Weiss Ratings raised shares of Talen Energy from a "sell (d+)" rating to a "hold (c-)" rating in a report on Thursday, May 7th. Raymond James Financial reissued an "outperform" rating and issued a $457.00 price target on shares of Talen Energy in a research note on Monday, April 27th. Morgan Stanley restated an "overweight" rating and set a $508.00 price target on shares of Talen Energy in a research report on Wednesday, June 24th. Finally, Wells Fargo & Company upped their price objective on shares of Talen Energy from $465.00 to $477.00 and gave the company an "overweight" rating in a research note on Wednesday, May 6th. Ten equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $475.08.

Talen Energy Profile

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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