Polianta Ltd acquired a new stake in shares of Talen Energy Corporation (NASDAQ:TLN – Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 4,600 shares of the utilities provider’s stock, valued at approximately $1,468,000.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Flagship Harbor Advisors LLC acquired a new position in shares of Talen Energy in the 4th quarter worth $27,000. Assetmark Inc. lifted its holdings in shares of Talen Energy by 581.8% during the third quarter. Assetmark Inc. now owns 75 shares of the utilities provider’s stock valued at $32,000 after purchasing an additional 64 shares during the last quarter. Neo Ivy Capital Management purchased a new stake in shares of Talen Energy during the third quarter valued at $34,000. Advisory Services Network LLC acquired a new position in shares of Talen Energy in the 3rd quarter valued at $35,000. Finally, Northwestern Mutual Wealth Management Co. boosted its position in shares of Talen Energy by 1,500.0% in the 4th 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. Institutional investors and hedge funds own 0.38% of the company’s stock.
Insider Buying and Selling at Talen Energy
In other news, Director Gizman I. Abbas sold 2,600 shares of the company’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $380.00, for a total value of $988,000.00. Following the transaction, the director owned 2,606 shares in the company, valued at $990,280. This represents a 49.94% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.78% of the stock is owned by corporate insiders.
Talen Energy Stock Performance
Wall Street Analyst Weigh In
TLN has been the topic of a number of analyst reports. Morgan Stanley reissued an “overweight” rating and issued a $499.00 price target on shares of Talen Energy in a research note on Thursday, May 21st. Raymond James Financial reaffirmed an “outperform” rating and set a $457.00 price objective on shares of Talen Energy in a research note on Monday, April 27th. Wells Fargo & Company raised their target price on shares of Talen Energy from $465.00 to $477.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. BNP Paribas Exane started coverage on shares of Talen Energy in a research report on Wednesday, March 18th. They issued an “outperform” rating and a $548.00 target price on the stock. Finally, Weiss Ratings upgraded shares of Talen Energy from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, May 7th. Twelve analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Talen Energy currently has an average rating of “Moderate Buy” and a consensus target price of $452.46.
Read Our Latest Research Report on TLN
Talen Energy 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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