Principal Financial Group Inc. Buys Shares of 1,671 Talen Energy Corporation (NASDAQ:TLN)

Principal Financial Group Inc. bought a new stake in Talen Energy Corporation (NASDAQ:TLN) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 1,671 shares of the utilities provider’s stock, valued at approximately $337,000.

Several other hedge funds and other institutional investors also recently modified their holdings of TLN. Allworth Financial LP boosted its stake in shares of Talen Energy by 170.6% in the fourth quarter. Allworth Financial LP now owns 184 shares of the utilities provider’s stock valued at $37,000 after buying an additional 116 shares in the last quarter. Geneos Wealth Management Inc. purchased a new stake in shares of Talen Energy in the fourth quarter valued at approximately $39,000. BNP Paribas Financial Markets purchased a new stake in shares of Talen Energy in the third quarter valued at approximately $36,000. Empowered Funds LLC purchased a new stake in shares of Talen Energy in the fourth quarter valued at approximately $42,000. Finally, SG Americas Securities LLC purchased a new stake in shares of Talen Energy in the fourth quarter valued at approximately $152,000. 0.38% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on TLN shares. Barclays decreased their price target on Talen Energy from $293.00 to $282.00 and set an “overweight” rating on the stock in a research note on Tuesday. Evercore ISI started coverage on Talen Energy in a research note on Friday, February 21st. They issued an “outperform” rating on the stock. Bank of America started coverage on Talen Energy in a research note on Monday, February 3rd. They issued a “buy” rating and a $253.00 price target on the stock. UBS Group boosted their target price on Talen Energy from $242.00 to $269.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. Finally, Oppenheimer boosted their target price on Talen Energy from $225.00 to $250.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. Eleven analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $246.00.

Insider Transactions at Talen Energy

In other 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 stock was sold at an average price of $204.35, for a total value of $999,988,155.45. Following the completion of the transaction, the insider now directly owns 6,475,107 shares of the company’s stock, 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 legal filing with the SEC, which is available through the SEC website. Insiders own 0.18% of the company’s stock.

Talen Energy Stock Performance

NASDAQ TLN opened at $176.24 on Friday. Talen Energy Corporation has a fifty-two week low of $83.14 and a fifty-two week high of $258.03. The stock has a market cap of $8.10 billion, a price-to-earnings ratio of 9.43, a price-to-earnings-growth ratio of 2.70 and a beta of 2.00. The business has a fifty day moving average of $222.09 and a 200-day moving average of $181.48. The company has a quick ratio of 3.37, a current ratio of 4.10 and a debt-to-equity ratio of 1.07.

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.