The Manufacturers Life Insurance Company Acquires Shares of 21,116 Talen Energy Corporation $TLN

The Manufacturers Life Insurance Company bought a new position in Talen Energy Corporation (NASDAQ:TLN - Free Report) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm bought 21,116 shares of the utilities provider's stock, valued at approximately $8,114,000.

Other large investors have also made changes to their positions in the company. Ritholtz Wealth Management increased its holdings in shares of Talen Energy by 3.6% in the first quarter. Ritholtz Wealth Management now owns 1,045 shares of the utilities provider's stock valued at $334,000 after purchasing an additional 36 shares during the last quarter. Daiwa Securities Group Inc. boosted its stake in Talen Energy by 5.7% during the fourth quarter. Daiwa Securities Group Inc. now owns 671 shares of the utilities provider's stock worth $252,000 after buying an additional 36 shares during the last quarter. Compound Planning Inc. grew its holdings in Talen Energy by 4.7% in the 4th quarter. Compound Planning Inc. now owns 841 shares of the utilities provider's stock valued at $315,000 after buying 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% in the 4th quarter. Northwestern Mutual Investment Management Company LLC now owns 10,223 shares of the utilities provider's stock worth $3,832,000 after acquiring an additional 39 shares during the last quarter. Finally, Values First Advisors Inc. increased its stake in shares of Talen Energy by 4.7% in the 1st quarter. Values First Advisors Inc. now owns 979 shares of the utilities provider's stock worth $312,000 after acquiring an additional 44 shares during the last quarter. 0.38% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Talen Energy

In other Talen Energy news, Director Gizman I. Abbas sold 2,600 shares of Talen Energy 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 completion of the sale, the director directly owned 2,606 shares in the company, valued at $990,280. This trade represents a 49.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.78% of the stock is currently owned by corporate insiders.

Talen Energy Stock Performance

Shares of Talen Energy stock opened at $296.11 on Monday. The firm has a market cap of $14.19 billion, a PE ratio of -71.01 and a beta of 1.90. The company has a quick ratio of 0.55, a current ratio of 0.78 and a debt-to-equity ratio of 5.82. Talen Energy Corporation has a 52 week low of $294.75 and a 52 week high of $451.28. The business's fifty day simple moving average is $358.05 and its 200-day simple moving average is $356.15.

Talen Energy (NASDAQ:TLN - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The utilities provider reported ($2.00) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.21 by ($5.21). Talen Energy had a positive return on equity of 43.32% and a negative net margin of 5.38%.The business had revenue of $747.00 million for the quarter, compared to analyst estimates of $832.81 million. Equities analysts forecast that Talen Energy Corporation will post 21.99 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on TLN. Zacks Research cut shares of Talen Energy from a "strong-buy" rating to a "hold" rating in a research report on Thursday. Jefferies Financial Group cut 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 lifted their target price on shares of Talen Energy from $482.00 to $501.00 and gave the stock an "overweight" rating in a research note on Thursday, August 6th. Barclays decreased their target price on shares of Talen Energy from $411.00 to $408.00 and set an "overweight" rating on the stock in a report on Tuesday, July 28th. Finally, New Street Research set a $405.00 price target on shares of Talen Energy in a research note on Monday, August 24th. Ten equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Talen Energy has a consensus rating of "Moderate Buy" and a consensus target price of $466.86.

Talen Energy Company 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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