Allspring Global Investments Holdings LLC Sells 27,972 Shares of Talen Energy Corporation $TLN

Allspring Global Investments Holdings LLC reduced its position in shares of Talen Energy Corporation (NASDAQ:TLN) by 9.8% during the 1st quarter, HoldingsChannel reports. The firm owned 257,438 shares of the utilities provider’s stock after selling 27,972 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Talen Energy were worth $84,460,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Flagship Harbor Advisors LLC purchased a new stake in shares of Talen Energy in the 4th quarter worth $27,000. Advisory Services Network LLC purchased a new position in shares of Talen Energy during the third quarter valued at $35,000. Northwestern Mutual Wealth Management Co. increased its stake in shares of Talen Energy by 1,500.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 96 shares of the utilities provider’s stock valued at $36,000 after buying an additional 90 shares during the period. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Talen Energy in the fourth quarter valued at about $39,000. Finally, Rothschild Investment LLC raised its holdings in shares of Talen Energy by 235.0% in the fourth quarter. Rothschild Investment LLC now owns 134 shares of the utilities provider’s stock valued at $50,000 after acquiring an additional 94 shares in the last quarter. 0.38% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Talen Energy news, Director Gizman I. Abbas sold 2,600 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $380.00, for a total value of $988,000.00. Following the transaction, the director directly owned 2,606 shares of the company’s stock, valued at $990,280. This trade represents a 49.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.78% of the company’s stock.

Talen Energy Price Performance

Talen Energy stock opened at $372.37 on Friday. The company has a fifty day simple moving average of $378.30 and a 200-day simple moving average of $362.26. The firm has a market capitalization of $17.84 billion, a price-to-earnings ratio of -555.77 and a beta of 1.82. The company has a quick ratio of 1.05, a current ratio of 1.25 and a debt-to-equity ratio of 6.32. Talen Energy Corporation has a 52-week low of $300.00 and a 52-week high of $451.28.

Analyst Ratings Changes

A number of analysts recently weighed in on TLN shares. Jefferies Financial Group lowered shares of Talen Energy from a “buy” rating to a “hold” rating and set a $453.00 price objective for the company. in a research note on Tuesday, June 23rd. Wells Fargo & Company boosted their price objective on shares of Talen Energy from $465.00 to $477.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. Weiss Ratings upgraded Talen Energy from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, May 7th. Barclays increased their target price on Talen Energy from $408.00 to $411.00 and gave the company an “overweight” rating in a research report on Tuesday, May 19th. Finally, Raymond James Financial reiterated an “outperform” rating and issued a $457.00 target price on shares of Talen Energy in a research note on Monday, April 27th. Ten equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Talen Energy has a consensus rating of “Moderate Buy” and a consensus target price of $475.08.

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).