Talen Energy Corporation $TLN Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. trimmed its holdings in Talen Energy Corporation (NASDAQ:TLN) by 3.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 98,235 shares of the utilities provider’s stock after selling 3,217 shares during the period. Principal Financial Group Inc.’s holdings in Talen Energy were worth $36,822,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of TLN. Amundi acquired a new stake in shares of Talen Energy in the first quarter valued at about $299,000. AQR Capital Management LLC acquired a new stake in shares of Talen Energy in the first quarter valued at about $1,732,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Talen Energy by 11.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,280 shares of the utilities provider’s stock valued at $1,454,000 after buying an additional 761 shares during the last quarter. NewEdge Advisors LLC raised its position in shares of Talen Energy by 17,400.0% in the first quarter. NewEdge Advisors LLC now owns 875 shares of the utilities provider’s stock valued at $175,000 after buying an additional 870 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Talen Energy by 15.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 49,050 shares of the utilities provider’s stock valued at $9,794,000 after buying an additional 6,498 shares during the last quarter. 0.38% of the stock is currently owned by institutional investors and hedge funds.

Talen Energy Price Performance

Talen Energy stock opened at $386.37 on Friday. Talen Energy Corporation has a 12-month low of $220.59 and a 12-month high of $451.28. The stock has a market cap of $17.54 billion, a P/E ratio of -576.66 and a beta of 1.90. The company has a 50-day moving average price of $340.59 and a 200 day moving average price of $362.26. The company has a current ratio of 1.25, a quick ratio of 1.02 and a debt-to-equity ratio of 6.32.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Wells Fargo & Company increased their target price on shares of Talen Energy from $465.00 to $477.00 and gave the company an “overweight” rating in a research report on Wednesday. Barclays reduced their target price on shares of Talen Energy from $425.00 to $408.00 and set an “overweight” rating for the company in a research report on Monday, April 20th. JPMorgan Chase & Co. reduced their target price on shares of Talen Energy from $448.00 to $421.00 and set an “overweight” rating for the company in a research report on Thursday, March 19th. Weiss Ratings upgraded shares of Talen Energy from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday. Finally, Raymond James Financial reiterated an “outperform” rating and issued a $457.00 target price on shares of Talen Energy in a research report on Monday, April 27th. Twelve investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $448.25.

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).