Talen Energy Corporation $TLN Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company decreased its holdings in Talen Energy Corporation (NASDAQ:TLN) by 6.5% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 23,637 shares of the utilities provider’s stock after selling 1,648 shares during the quarter. The Manufacturers Life Insurance Company owned 0.05% of Talen Energy worth $7,546,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. Amundi bought a new stake in shares of Talen Energy during the first quarter valued at about $299,000. AQR Capital Management LLC acquired a new position in Talen Energy during the 1st quarter valued at about $1,732,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Talen Energy by 11.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,280 shares of the utilities provider’s stock valued at $1,454,000 after buying an additional 761 shares during the period. NewEdge Advisors LLC raised its position in shares of Talen Energy by 17,400.0% during the 1st quarter. NewEdge Advisors LLC now owns 875 shares of the utilities provider’s stock worth $175,000 after buying an additional 870 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Talen Energy by 15.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 49,050 shares of the utilities provider’s stock worth $9,794,000 after buying an additional 6,498 shares in the last quarter. 0.38% of the stock is owned by institutional investors and hedge funds.

Talen Energy Price Performance

Shares of NASDAQ:TLN opened at $340.00 on Wednesday. The company has a market capitalization of $16.29 billion, a PE ratio of -507.46 and a beta of 1.90. The company has a debt-to-equity ratio of 6.32, a quick ratio of 1.05 and a current ratio of 1.25. The stock has a fifty day moving average of $376.49 and a 200-day moving average of $359.65. Talen Energy Corporation has a one year low of $301.45 and a one year high of $451.28.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Scotiabank increased their price objective on shares of Talen Energy from $463.00 to $470.00 and gave the company a “sector perform” rating in a report on Wednesday, July 15th. Morgan Stanley reissued an “overweight” rating and set a $508.00 target price on shares of Talen Energy in a report on Wednesday, June 24th. Jefferies Financial Group decreased their price target on Talen Energy from $453.00 to $422.00 and set a “hold” rating for the company in a research note on Monday, July 20th. Raymond James Financial reiterated an “outperform” rating and set a $457.00 price target on shares of Talen Energy in a research report on Monday, April 27th. Finally, Wells Fargo & Company upped their price objective on Talen Energy from $477.00 to $482.00 and gave the company an “overweight” rating in a report on Monday, July 27th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $476.45.

Insider Activity

In other news, Director Gizman I. Abbas sold 2,600 shares of the company’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $380.00, for a total transaction of $988,000.00. Following the completion of the sale, the director directly owned 2,606 shares of the company’s stock, valued at $990,280. This represents a 49.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.78% of the stock is owned by company insiders.

About Talen Energy

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).