Talen Energy Corporation $TLN Holdings Decreased by Lombard Odier Asset Management USA Corp

Key Points

• Lombard Odier Asset Management USA Corp cut its Talen Energy stake by 60% in the first quarter, selling 5,462 shares and ending with 3,639 shares worth about $1.16 million.
• Insider selling also appeared in the stock: Director Gizman I. Abbas sold 2,600 shares at $380 each, reducing his position by nearly 50%.
• Wall Street remains bullish overall, with nine Buy ratings and four Hold ratings on Talen Energy and a consensus price target of $476.27, even as the shares traded down 5.1% to $359.90.

Lombard Odier Asset Management USA Corp lowered its stake in Talen Energy Corporation (NASDAQ:TLN - Free Report) by 60.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,639 shares of the utilities provider's stock after selling 5,462 shares during the quarter. Lombard Odier Asset Management USA Corp's holdings in Talen Energy were worth $1,162,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Ritholtz Wealth Management raised its position in shares of Talen Energy by 3.6% during the 1st quarter. Ritholtz Wealth Management now owns 1,045 shares of the utilities provider's stock worth $334,000 after buying an additional 36 shares in the last quarter. Daiwa Securities Group Inc. boosted its holdings in shares of Talen Energy by 5.7% in the fourth quarter. Daiwa Securities Group Inc. now owns 671 shares of the utilities provider's stock valued at $252,000 after acquiring an additional 36 shares in the last quarter. Compound Planning Inc. boosted its holdings in shares of Talen Energy by 4.7% in the fourth quarter. Compound Planning Inc. now owns 841 shares of the utilities provider's stock valued at $315,000 after acquiring an additional 38 shares in the last quarter. Northwestern Mutual Investment Management Company LLC increased its stake in shares of Talen Energy by 0.4% during the fourth quarter. Northwestern Mutual Investment Management Company LLC now owns 10,223 shares of the utilities provider's stock valued at $3,832,000 after acquiring an additional 39 shares during the period. Finally, Values First Advisors Inc. raised its holdings in Talen Energy by 4.7% during the first quarter. Values First Advisors Inc. now owns 979 shares of the utilities provider's stock worth $312,000 after purchasing an additional 44 shares in the last quarter. Institutional investors own 0.38% of the company's stock.

Insider Activity

In other news, Director Gizman I. Abbas sold 2,600 shares of the 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 completion of the sale, the director owned 2,606 shares in the company, valued at approximately $990,280. This represents a 49.94% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.78% of the company's stock.

Analysts Set New Price Targets

TLN has been the subject of a number of research analyst reports. Barclays upped their target price on Talen Energy from $408.00 to $411.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 19th. Morgan Stanley reiterated an "overweight" rating and set a $508.00 price target on shares of Talen Energy in a research report on Wednesday, June 24th. Weiss Ratings raised Talen Energy from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Thursday, May 7th. Raymond James Financial restated an "outperform" rating and issued a $457.00 price objective on shares of Talen Energy in a report on Monday, April 27th. Finally, The Goldman Sachs Group started coverage on Talen Energy in a research note on Thursday, June 18th. They set a "buy" rating and a $499.00 target price for the company. Nine equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $476.27.

Talen Energy Trading Down 5.1%

Shares of NASDAQ:TLN opened at $359.90 on Friday. The stock has a market capitalization of $17.24 billion, a price-to-earnings ratio of -537.16 and a beta of 1.82. Talen Energy Corporation has a 1-year low of $301.45 and a 1-year high of $451.28. The company has a debt-to-equity ratio of 6.32, a quick ratio of 1.05 and a current ratio of 1.25. The company has a 50 day moving average price of $379.23 and a 200 day moving average price of $361.82.

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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