Allspring Global Investments Holdings LLC Sells 155,305 Shares of Talen Energy Corporation (NASDAQ:TLN)

Allspring Global Investments Holdings LLC reduced its position in shares of Talen Energy Corporation (NASDAQ:TLN) by 94.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 10,000 shares of the utilities provider’s stock after selling 155,305 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Talen Energy were worth $2,015,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. Geneos Wealth Management Inc. bought a new stake in shares of Talen Energy during the 4th quarter worth $39,000. BNP Paribas Financial Markets bought a new stake in Talen Energy in the 3rd quarter valued at $36,000. Empowered Funds LLC bought a new stake in Talen Energy in the 4th quarter valued at $42,000. SG Americas Securities LLC bought a new stake in Talen Energy in the 4th quarter valued at $152,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new stake in Talen Energy in the 4th quarter valued at $240,000. 0.38% of the stock is owned by institutional investors.

Talen Energy Stock Down 7.5 %

Talen Energy stock opened at $218.80 on Friday. The company’s 50 day simple moving average is $222.20 and its 200 day simple moving average is $175.84. Talen Energy Corporation has a fifty-two week low of $67.55 and a fifty-two week high of $258.03. The firm has a market capitalization of $11.13 billion, a price-to-earnings ratio of 11.71, a PEG ratio of 2.83 and a beta of 1.70. The company has a debt-to-equity ratio of 1.07, a current ratio of 4.10 and a quick ratio of 3.37.

Insider Buying and Selling at Talen Energy

In other Talen Energy news, major shareholder Rubric Capital Management Lp sold 4,893,507 shares of Talen Energy stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $204.35, for a total value of $999,988,155.45. Following the transaction, the insider now owns 6,475,107 shares of the company’s stock, valued at approximately $1,323,188,115.45. The trade was a 43.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.18% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on TLN. Daiwa Capital Markets began coverage on shares of Talen Energy in a report on Wednesday, December 4th. They issued a “buy” rating and a $248.00 price target for the company. Bank of America began coverage on shares of Talen Energy in a report on Monday, February 3rd. They issued a “buy” rating and a $253.00 price target for the company. Evercore ISI began coverage on shares of Talen Energy in a research note on Friday. They issued an “outperform” rating for the company. Barclays increased their price objective on shares of Talen Energy from $245.00 to $293.00 and gave the company an “overweight” rating in a research note on Monday, January 27th. Finally, Oppenheimer increased their price objective on shares of Talen Energy from $225.00 to $250.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. Eleven research analysts have rated the stock with a buy rating, According to MarketBeat.com, Talen Energy has an average rating of “Buy” and a consensus price target of $247.10.

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.