10,349 Shares in Talen Energy Corporation (NASDAQ:TLN) Acquired by Arizona State Retirement System

Arizona State Retirement System purchased a new position in Talen Energy Corporation (NASDAQ:TLN - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 10,349 shares of the utilities provider's stock, valued at approximately $2,085,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Allworth Financial LP lifted its holdings in Talen Energy by 170.6% during the 4th quarter. Allworth Financial LP now owns 184 shares of the utilities provider's stock valued at $37,000 after purchasing an additional 116 shares during the last quarter. Jones Financial Companies Lllp bought a new position in Talen Energy during the 4th quarter valued at about $37,000. Geneos Wealth Management Inc. bought a new position in shares of Talen Energy in the fourth quarter worth about $39,000. BNP Paribas Financial Markets bought a new position in shares of Talen Energy in the third quarter worth about $36,000. Finally, Empowered Funds LLC bought a new position in shares of Talen Energy in the fourth quarter worth about $42,000. 0.38% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Talen Energy

In other Talen Energy news, major shareholder Rubric Capital Management Lp sold 4,893,507 shares of the stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $204.35, for a total transaction of $999,988,155.45. Following the sale, the insider now directly owns 6,475,107 shares in the company, valued at $1,323,188,115.45. This represents a 43.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.18% of the stock is currently owned by corporate insiders.

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Talen Energy Stock Performance

Shares of TLN traded up $10.81 during trading hours on Tuesday, hitting $176.56. The company had a trading volume of 1,964,621 shares, compared to its average volume of 1,102,985. The firm has a market cap of $8.12 billion, a price-to-earnings ratio of 9.45, a PEG ratio of 2.70 and a beta of 2.00. The business has a fifty day moving average of $220.90 and a 200-day moving average of $183.17. Talen Energy Corporation has a 12 month low of $98.50 and a 12 month high of $258.03. The company has a quick ratio of 3.37, a current ratio of 4.10 and a debt-to-equity ratio of 1.07.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Daiwa Capital Markets set a $200.00 target price on shares of Talen Energy in a research note on Wednesday, March 5th. Oppenheimer boosted their target price on shares of Talen Energy from $225.00 to $250.00 and gave the stock an "outperform" rating in a research note on Monday, December 9th. UBS Group boosted their target price on shares of Talen Energy from $242.00 to $269.00 and gave the stock a "buy" rating in a research note on Friday, January 3rd. Evercore ISI initiated coverage on shares of Talen Energy in a research note on Friday, February 21st. They issued an "outperform" rating for the company. Finally, Bank of America initiated coverage on shares of Talen Energy in a research note on Monday, February 3rd. They set a "buy" rating and a $253.00 price target for the company. Eleven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $241.20.

Talen Energy Profile

Talen Energy Corporation is a U.S.-based energy and power generation company. The Company owns or controls approximately 16,000 megawatts of capacity in wholesale power markets, principally in the Northeast, Mid-Atlantic and Southwest regions of the United States. The Company generates and sells electricity, capacity and related products from power plants that use fuel sources, such as nuclear, natural gas and coal.