Fifth Third Bancorp Has $4.28 Million Holdings in Talen Energy Corporation $TLN

Fifth Third Bancorp grew its position in shares of Talen Energy Corporation (NASDAQ:TLN) by 8,284.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,415 shares of the utilities provider’s stock after acquiring an additional 13,255 shares during the quarter. Fifth Third Bancorp’s holdings in Talen Energy were worth $4,283,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of TLN. Sequoia Financial Advisors LLC bought a new stake in shares of Talen Energy during the first quarter worth about $306,000. Whipplewood Advisors LLC increased its position in shares of Talen Energy by 5,933.3% during the 1st quarter. Whipplewood Advisors LLC now owns 362 shares of the utilities provider’s stock valued at $116,000 after purchasing an additional 356 shares during the last quarter. Kestra Advisory Services LLC increased its holdings in Talen Energy by 1.2% during the first quarter. Kestra Advisory Services LLC now owns 18,454 shares of the utilities provider’s stock worth $5,891,000 after buying an additional 210 shares during the last quarter. Oregon Public Employees Retirement Fund raised its holdings in shares of Talen Energy by 3.1% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 9,362 shares of the utilities provider’s stock worth $2,989,000 after purchasing an additional 283 shares during the period. Finally, Quantum Portfolio Management LLC raised its stake in shares of Talen Energy by 9.8% in the first quarter. Quantum Portfolio Management LLC now owns 1,009 shares of the utilities provider’s stock valued at $322,000 after buying an additional 90 shares during the period. 0.38% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Talen Energy news, Director Gizman I. Abbas sold 2,600 shares of the business’s stock in a transaction dated 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 owned 2,606 shares in the company, valued at approximately $990,280. The trade was a 49.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.78% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on TLN. The Goldman Sachs Group began coverage on shares of Talen Energy in a research note on Thursday, June 18th. They issued a “buy” rating and a $499.00 target price for the company. Jefferies Financial Group lowered Talen Energy from a “buy” rating to a “hold” rating and set a $453.00 target price on the stock. in a research note on Tuesday, June 23rd. Morgan Stanley restated an “overweight” rating and set a $508.00 price objective on shares of Talen Energy in a research report on Wednesday, June 24th. Raymond James Financial restated an “outperform” rating and set a $457.00 price target on shares of Talen Energy in a research report on Monday, April 27th. Finally, Scotiabank lifted their price target on Talen Energy from $463.00 to $470.00 and gave the stock a “sector perform” rating in a research note on Wednesday. Ten equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $475.08.

Talen Energy Stock Up 1.1%

Shares of NASDAQ TLN opened at $372.37 on Friday. 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. The firm’s fifty day moving average is $378.30 and its 200 day moving average is $362.26. The company has a market cap of $17.84 billion, a price-to-earnings ratio of -555.77 and a beta of 1.82.

Talen Energy Company Profile

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).