Principal Financial Group Inc. Takes $337,000 Position in Talen Energy Corporation (NASDAQ:TLN)

Principal Financial Group Inc. purchased a new stake in Talen Energy Corporation (NASDAQ:TLN - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor purchased 1,671 shares of the utilities provider's stock, valued at approximately $337,000.

Other hedge funds also recently added to or reduced their stakes in the company. Rubric Capital Management LP acquired a new position in shares of Talen Energy during the third quarter worth $2,026,342,000. Monarch Alternative Capital LP acquired a new position in Talen Energy in the 3rd quarter worth $258,448,000. Mirabella Financial Services LLP purchased a new position in Talen Energy in the 3rd quarter valued at about $168,108,000. Sachem Head Capital Management LP acquired a new stake in shares of Talen Energy during the third quarter valued at about $167,724,000. Finally, FMR LLC purchased a new stake in shares of Talen Energy during the third quarter worth about $141,363,000. 0.38% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently commented on TLN shares. Bank of America assumed coverage on Talen Energy in a report on Monday, February 3rd. They issued a "buy" rating and a $253.00 price target for the company. Barclays cut their price target on shares of Talen Energy from $293.00 to $282.00 and set an "overweight" rating on the stock in a report on Tuesday, March 4th. Oppenheimer raised their price objective on shares of Talen Energy from $225.00 to $250.00 and gave the stock an "outperform" rating in a report on Monday, December 9th. Daiwa Capital Markets set a $200.00 target price on shares of Talen Energy in a research note on Wednesday, March 5th. Finally, Evercore ISI initiated coverage on Talen Energy in a research note on Friday, February 21st. They issued an "outperform" rating for the company. Eleven 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.

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Insider Activity at Talen Energy

In other news, major shareholder Rubric Capital Management Lp sold 4,893,507 shares of the business's stock in a transaction on Friday, December 13th. The stock was 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 of the company's stock, valued at $1,323,188,115.45. The trade was a 43.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.18% of the company's stock.

Talen Energy Stock Performance

Shares of TLN traded up $10.81 during mid-day trading on Tuesday, reaching $176.56. 1,964,136 shares of the company's stock traded hands, compared to its average volume of 1,102,982. Talen Energy Corporation has a 12 month low of $98.50 and a 12 month high of $258.03. The stock has a market capitalization of $8.12 billion, a P/E ratio of 9.45, a price-to-earnings-growth ratio of 2.70 and a beta of 2.00. The business's 50-day moving average price is $221.61 and its 200-day moving average price is $182.82. The company has a debt-to-equity ratio of 1.07, a quick ratio of 3.37 and a current ratio of 4.10.

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.