Riggs Asset Managment Co. Inc. Acquires 3,493 Shares of Talen Energy Corporation (NASDAQ:TLN)

Riggs Asset Managment Co. Inc. boosted its stake in shares of Talen Energy Corporation (NASDAQ:TLN - Free Report) by 62.2% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 9,111 shares of the utilities provider's stock after buying an additional 3,493 shares during the period. Riggs Asset Managment Co. Inc.'s holdings in Talen Energy were worth $1,837,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. BNP Paribas Financial Markets acquired a new stake in shares of Talen Energy during the third quarter worth $36,000. Geneos Wealth Management Inc. acquired a new position in Talen Energy during the fourth quarter worth about $39,000. SG Americas Securities LLC acquired a new position in Talen Energy during the fourth quarter worth about $152,000. Spirit of America Management Corp NY acquired a new position in Talen Energy during the third quarter worth about $214,000. Finally, World Equity Group Inc. bought a new stake in shares of Talen Energy during the third quarter worth about $237,000. 0.38% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Talen Energy

In related 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 shares were sold at an average price of $204.35, for a total transaction of $999,988,155.45. Following the completion of the transaction, the insider now directly owns 6,475,107 shares in the company, valued at $1,323,188,115.45. The trade was a 43.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Analysts Set New Price Targets

Several brokerages recently commented on TLN. Oppenheimer upped their target price on Talen Energy from $225.00 to $250.00 and gave the company an "outperform" rating in a report on Monday, December 9th. Bank of America began coverage on Talen Energy in a research report on Monday. They issued a "buy" rating and a $253.00 price target for the company. UBS Group raised their target price on Talen Energy from $242.00 to $269.00 and gave the company a "buy" rating in a research report on Friday, January 3rd. Guggenheim raised their target price on Talen Energy from $219.00 to $246.00 and gave the company a "buy" rating in a research report on Tuesday, October 8th. Finally, JPMorgan Chase & Co. began coverage on Talen Energy in a research note on Thursday, October 17th. They set an "overweight" rating and a $268.00 price target for the company. Eleven research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of "Buy" and an average price target of $232.00.

Talen Energy Trading Up 2.3 %

Talen Energy stock traded up $5.42 during midday trading on Wednesday, reaching $239.84. The stock had a trading volume of 602,496 shares, compared to its average volume of 1,318,848. The company has a quick ratio of 3.37, a current ratio of 4.10 and a debt-to-equity ratio of 1.07. Talen Energy Corporation has a 52-week low of $64.51 and a 52-week high of $258.03. The firm has a market cap of $12.20 billion, a price-to-earnings ratio of 12.84 and a beta of 1.70. The company has a fifty day moving average of $215.64 and a 200 day moving average of $164.79.

About Talen Energy

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.