Talen Energy Corporation $TLN Shares Sold by Altshuler Shaham Ltd

Altshuler Shaham Ltd cut its position in Talen Energy Corporation (NASDAQ:TLN - Free Report) by 27.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,774 shares of the utilities provider's stock after selling 4,089 shares during the quarter. Altshuler Shaham Ltd's holdings in Talen Energy were worth $3,439,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. State Street Corp grew its stake in Talen Energy by 88.2% in the third quarter. State Street Corp now owns 1,338,698 shares of the utilities provider's stock worth $569,455,000 after purchasing an additional 627,467 shares in the last quarter. Norges Bank acquired a new stake in shares of Talen Energy during the fourth quarter worth $225,930,000. Invesco Ltd. lifted its position in shares of Talen Energy by 77.5% in the 3rd quarter. Invesco Ltd. now owns 1,063,024 shares of the utilities provider's stock worth $452,189,000 after buying an additional 464,014 shares during the last quarter. Sachem Head Capital Management LP lifted its position in shares of Talen Energy by 72.4% in the 4th quarter. Sachem Head Capital Management LP now owns 1,000,000 shares of the utilities provider's stock worth $374,840,000 after buying an additional 420,000 shares during the last quarter. Finally, Deltroit Asset Management UK LLP acquired a new position in shares of Talen Energy in the 4th quarter valued at about $103,081,000. 0.38% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Talen Energy news, Director Gizman I. Abbas sold 2,600 shares of the business's stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $380.00, for a total transaction of $988,000.00. Following the sale, the director directly owned 2,606 shares in the company, valued at approximately $990,280. The trade was a 49.94% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.78% of the company's stock.

Talen Energy Price Performance

Shares of NASDAQ TLN opened at $326.05 on Wednesday. The stock has a market cap of $15.62 billion, a P/E ratio of -486.63 and a beta of 1.82. The firm's 50-day simple moving average is $379.92 and its 200 day simple moving average is $360.91. Talen Energy Corporation has a fifty-two week low of $301.45 and a fifty-two week high of $451.28. The company has a quick ratio of 1.05, a current ratio of 1.25 and a debt-to-equity ratio of 6.32.

Analyst Ratings Changes

A number of brokerages recently weighed in on TLN. Jefferies Financial Group lowered their price objective on shares of Talen Energy from $453.00 to $422.00 and set a "hold" rating for the company in a research report on Monday, July 20th. Wells Fargo & Company raised their target price on shares of Talen Energy from $477.00 to $482.00 and gave the stock an "overweight" rating in a report on Monday. The Goldman Sachs Group assumed coverage on Talen Energy in a research note on Thursday, June 18th. They issued a "buy" rating and a $499.00 target price for the company. 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. Finally, Barclays cut their price target on Talen Energy from $411.00 to $408.00 and set an "overweight" rating on the stock in a report on Tuesday. Nine research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $476.45.

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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