Principal Financial Group Inc. increased its position in shares of Talen Energy Corporation (NASDAQ:TLN – Free Report) by 3.8% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 101,953 shares of the utilities provider’s stock after buying an additional 3,718 shares during the quarter. Principal Financial Group Inc.’s holdings in Talen Energy were worth $32,546,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in the business. Flagship Harbor Advisors LLC purchased a new position in Talen Energy in the fourth quarter worth approximately $27,000. Advisory Services Network LLC purchased a new stake in Talen Energy in the third quarter valued at $35,000. Northwestern Mutual Wealth Management Co. raised its position in Talen Energy by 1,500.0% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 96 shares of the utilities provider’s stock valued at $36,000 after purchasing an additional 90 shares during the period. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Talen Energy in the 4th quarter valued at $39,000. Finally, Rothschild Investment LLC lifted its stake in shares of Talen Energy by 235.0% in the 4th quarter. Rothschild Investment LLC now owns 134 shares of the utilities provider’s stock valued at $50,000 after purchasing an additional 94 shares during the last quarter. 0.38% of the stock is currently owned by institutional investors and hedge funds.
Talen Energy Price Performance
TLN opened at $372.37 on Monday. The stock’s 50-day moving average price is $378.30 and its 200 day moving average price is $362.13. Talen Energy Corporation has a 12-month low of $300.00 and a 12-month high of $451.28. The firm has a market cap of $17.84 billion, a price-to-earnings ratio of -555.77 and a beta of 1.82. The company has a current ratio of 1.25, a quick ratio of 1.05 and a debt-to-equity ratio of 6.32.
Wall Street Analyst Weigh In
Check Out Our Latest Stock Analysis on Talen Energy
Insider Transactions at Talen Energy
In other news, Director Gizman I. Abbas sold 2,600 shares of the stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $380.00, for a total transaction of $988,000.00. Following the sale, the director owned 2,606 shares of the company’s stock, valued at approximately $990,280. This represents a 49.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.78% of the stock is owned by company insiders.
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).
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