Principal Financial Group Inc. Acquires 1,920 Shares of Talen Energy Corporation (NASDAQ:TLN)

Principal Financial Group Inc. increased its position in shares of Talen Energy Corporation (NASDAQ:TLN) by 114.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,591 shares of the utilities provider’s stock after purchasing an additional 1,920 shares during the period. Principal Financial Group Inc.’s holdings in Talen Energy were worth $717,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Teacher Retirement System of Texas boosted its position in Talen Energy by 176.2% in the 1st quarter. Teacher Retirement System of Texas now owns 5,606 shares of the utilities provider’s stock valued at $1,119,000 after buying an additional 3,576 shares during the period. Cannon Global Investment Management LLC boosted its position in Talen Energy by 29.0% in the 1st quarter. Cannon Global Investment Management LLC now owns 4,000 shares of the utilities provider’s stock valued at $799,000 after buying an additional 900 shares during the period. Colonial River Investments LLC purchased a new stake in Talen Energy in the 1st quarter valued at about $775,000. Crescent Grove Advisors LLC purchased a new stake in Talen Energy in the 1st quarter valued at about $285,000. Finally, Allspring Global Investments Holdings LLC boosted its position in Talen Energy by 1,210.8% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 131,082 shares of the utilities provider’s stock valued at $27,192,000 after buying an additional 121,082 shares during the period. 0.38% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Talen Energy

In related news, major shareholder Rubric Capital Management Lp sold 178,000 shares of the firm’s stock in a transaction dated Friday, June 27th. The shares were sold at an average price of $296.04, for a total transaction of $52,695,120.00. Following the completion of the sale, the insider directly owned 5,734,970 shares in the company, valued at approximately $1,697,780,518.80. This trade represents a 3.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 388,530 shares of company stock valued at $114,090,933 in the last ninety days. 0.18% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on TLN shares. Raymond James Financial started coverage on shares of Talen Energy in a research report on Friday, June 13th. They issued an “outperform” rating and a $314.00 price target for the company. Morgan Stanley upped their price target on shares of Talen Energy from $300.00 to $330.00 and gave the stock an “overweight” rating in a research report on Friday. Jefferies Financial Group upped their price target on shares of Talen Energy from $326.00 to $380.00 and gave the stock a “buy” rating in a research report on Friday. Barclays boosted their price objective on shares of Talen Energy from $269.00 to $359.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, Oppenheimer set a $315.00 price objective on shares of Talen Energy and gave the stock an “outperform” rating in a research note on Friday, July 11th. One analyst has rated the stock with a sell rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $289.92.

Talen Energy Stock Performance

Shares of NASDAQ TLN opened at $328.63 on Friday. The company’s fifty day moving average price is $267.33 and its 200 day moving average price is $232.40. Talen Energy Corporation has a 1 year low of $98.50 and a 1 year high of $330.99. The company has a market capitalization of $14.96 billion, a PE ratio of 34.13, a price-to-earnings-growth ratio of 7.91 and a beta of 1.85. The company has a debt-to-equity ratio of 2.52, a quick ratio of 1.20 and a current ratio of 1.62.

Talen Energy (NASDAQ:TLN) last announced its quarterly earnings results on Thursday, May 8th. The utilities provider reported $0.82 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.17 by ($0.35). The firm had revenue of $390.00 million for the quarter, compared to analysts’ expectations of $556.93 million. Talen Energy had a return on equity of 11.47% and a net margin of 28.51%. On average, research analysts predict that Talen Energy Corporation will post 15.94 earnings per share for the current year.

Talen Energy Company 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.