Principal Financial Group Inc. Sells 3,217 Shares of Talen Energy Corporation $TLN

Key Points

• Principal Financial Group trimmed its Talen Energy position by 3.2% in the fourth quarter, selling 3,217 shares and leaving it with 98,235 shares worth about $36.8 million.
• Other institutional investors also made small adjustments, but institutions overall own only 0.38% of Talen Energy’s stock.
• Analysts remain broadly positive on Talen Energy, with 12 Buy ratings and an average target price of $448.25, above the stock’s recent opening price of $386.37.

Principal Financial Group Inc. lessened its position in shares of Talen Energy Corporation (NASDAQ:TLN - Free Report) by 3.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 98,235 shares of the utilities provider's stock after selling 3,217 shares during the quarter. Principal Financial Group Inc. owned about 0.22% of Talen Energy worth $36,822,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. Red Door Wealth Management LLC raised its stake in shares of Talen Energy by 2.2% during the 4th quarter. Red Door Wealth Management LLC now owns 2,191 shares of the utilities provider's stock worth $821,000 after acquiring an additional 47 shares in the last quarter. CWM LLC increased its stake in Talen Energy by 3.5% during the 4th quarter. CWM LLC now owns 1,680 shares of the utilities provider's stock valued at $630,000 after purchasing an additional 57 shares in the last quarter. B. Riley Wealth Advisors Inc. boosted its holdings in shares of Talen Energy by 8.1% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 787 shares of the utilities provider's stock valued at $335,000 after acquiring an additional 59 shares during the last quarter. Assetmark Inc. boosted its holdings in shares of Talen Energy by 581.8% in the 3rd quarter. Assetmark Inc. now owns 75 shares of the utilities provider's stock valued at $32,000 after acquiring an additional 64 shares during the last quarter. Finally, Compound Planning Inc. boosted its holdings in shares of Talen Energy by 8.8% in the 3rd quarter. Compound Planning Inc. now owns 803 shares of the utilities provider's stock valued at $342,000 after acquiring an additional 65 shares during the last quarter. Institutional investors own 0.38% of the company's stock.

Talen Energy Stock Performance

NASDAQ:TLN opened at $386.37 on Friday. The company has a debt-to-equity ratio of 6.32, a quick ratio of 1.02 and a current ratio of 1.25. The company has a fifty day moving average of $340.59 and a two-hundred day moving average of $362.26. The stock has a market capitalization of $17.54 billion, a PE ratio of -576.66 and a beta of 1.90. Talen Energy Corporation has a fifty-two week low of $220.59 and a fifty-two week high of $451.28.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Morgan Stanley set a $498.00 price target on shares of Talen Energy in a report on Friday, May 1st. JPMorgan Chase & Co. lowered their price target on shares of Talen Energy from $448.00 to $421.00 and set an "overweight" rating on the stock in a report on Thursday, March 19th. Weiss Ratings raised shares of Talen Energy from a "sell (d+)" rating to a "hold (c-)" rating in a report on Thursday. Barclays lowered their price target on shares of Talen Energy from $425.00 to $408.00 and set an "overweight" rating on the stock in a report on Monday, April 20th. Finally, BNP Paribas Exane assumed coverage on shares of Talen Energy in a report on Wednesday, March 18th. They set an "outperform" rating and a $548.00 price target on the stock. Twelve equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, Talen Energy presently has an average rating of "Moderate Buy" and an average target price of $448.25.

About Talen Energy

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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