Insider Selling: Talen Energy (NASDAQ:TLN) Director Sells $988,000.00 in Stock

Talen Energy Corporation (NASDAQ:TLN) Director Gizman Abbas sold 2,600 shares of the stock in a transaction on Monday, June 15th. The shares were sold at an average price of $380.00, for a total value of $988,000.00. Following the completion of the sale, the director directly owned 2,606 shares of the company’s stock, valued at $990,280. The trade was a 49.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Talen Energy Stock Up 0.8%

TLN traded up $3.30 during mid-day trading on Wednesday, reaching $409.81. 1,041,298 shares of the stock were exchanged, compared to its average volume of 808,474. Talen Energy Corporation has a 1 year low of $255.50 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 stock has a market capitalization of $18.60 billion, a PE ratio of -611.65 and a beta of 1.80. The company has a 50 day moving average price of $359.74 and a two-hundred day moving average price of $358.33.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Amundi bought a new stake in shares of Talen Energy in the 1st quarter worth approximately $299,000. AQR Capital Management LLC bought a new position in Talen Energy during the first quarter valued at $1,732,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in 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 worth $1,454,000 after buying an additional 761 shares during the last quarter. NewEdge Advisors LLC increased its position in Talen Energy by 17,400.0% in the first quarter. NewEdge Advisors LLC now owns 875 shares of the utilities provider’s stock worth $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 stake 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 period. 0.38% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on TLN shares. Wells Fargo & Company upped their price objective on shares of Talen Energy from $465.00 to $477.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. JPMorgan Chase & Co. cut their target price on Talen Energy from $448.00 to $421.00 and set an “overweight” rating on the stock in a research note on Thursday, March 19th. Barclays upped their target price on Talen Energy from $408.00 to $411.00 and gave the company an “overweight” rating in a report on Tuesday, May 19th. Raymond James Financial reiterated an “outperform” rating and set a $457.00 price target on shares of Talen Energy in a report on Monday, April 27th. Finally, Weiss Ratings raised Talen Energy from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, May 7th. Eleven analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, Talen Energy presently has an average rating of “Moderate Buy” and a consensus price target of $448.58.

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).