Arrow Capital Management LLC Acquires 4,296 Shares of Talen Energy Corporation $TLN

Arrow Capital Management LLC increased its stake in shares of Talen Energy Corporation (NASDAQ:TLN) by 15.3% during the 1st quarter, HoldingsChannel.com reports. The fund owned 32,340 shares of the utilities provider’s stock after purchasing an additional 4,296 shares during the period. Talen Energy makes up approximately 7.2% of Arrow Capital Management LLC’s holdings, making the stock its 5th biggest holding. Arrow Capital Management LLC’s holdings in Talen Energy were worth $10,324,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Flagship Harbor Advisors LLC bought a new stake in Talen Energy in the fourth quarter valued at $27,000. Advisory Services Network LLC acquired a new stake in shares of Talen Energy in the third quarter worth $35,000. Northwestern Mutual Wealth Management Co. increased its stake in shares of Talen Energy by 1,500.0% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 96 shares of the utilities provider’s stock worth $36,000 after acquiring an additional 90 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Talen Energy in the fourth quarter valued at approximately $39,000. Finally, Bessemer Group Inc. lifted its position in shares of Talen Energy by 404.0% in the first quarter. Bessemer Group Inc. now owns 126 shares of the utilities provider’s stock worth $41,000 after buying an additional 101 shares during the last quarter. 0.38% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Talen Energy

In other news, Director Gizman I. Abbas sold 2,600 shares of Talen Energy stock in a transaction on Monday, June 15th. The shares were sold at an average price of $380.00, for a total transaction 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.78% of the stock is currently owned by corporate insiders.

Talen Energy Price Performance

Talen Energy stock opened at $379.27 on Friday. The firm has a market capitalization of $18.17 billion, a P/E ratio of -566.07 and a beta of 1.82. The business has a 50-day moving average of $378.72 and a 200-day moving average of $361.83. The company has a current ratio of 1.25, a quick ratio of 1.05 and a debt-to-equity ratio of 6.32. Talen Energy Corporation has a 1 year low of $301.45 and a 1 year high of $451.28.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Scotiabank raised their price target on Talen Energy from $463.00 to $470.00 and gave the company a “sector perform” rating in a research report on Wednesday, July 15th. The Goldman Sachs Group began coverage on shares of Talen Energy in a research note on Thursday, June 18th. They set a “buy” rating and a $499.00 price target for the company. Wells Fargo & Company increased their target price on shares of Talen Energy from $465.00 to $477.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. Morgan Stanley restated an “overweight” rating and issued a $508.00 price target on shares of Talen Energy in a research report on Wednesday, June 24th. Finally, Jefferies Financial Group decreased their price objective on shares of Talen Energy from $453.00 to $422.00 and set a “hold” rating on the stock in a report on Monday. Ten research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $472.50.

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).