Assenagon Asset Management S.A. Decreases Position in Talen Energy Corporation $TLN

Assenagon Asset Management S.A. decreased its stake in shares of Talen Energy Corporation (NASDAQ:TLN) by 41.9% during the 1st quarter, Holdings Channel.com reports. The firm owned 153,437 shares of the utilities provider’s stock after selling 110,756 shares during the period. Assenagon Asset Management S.A.’s holdings in Talen Energy were worth $48,982,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Amundi purchased a new stake in shares of Talen Energy during the first quarter worth approximately $299,000. AQR Capital Management LLC purchased a new position in Talen Energy in the first quarter worth approximately $1,732,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Talen Energy by 11.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,280 shares of the utilities provider’s stock worth $1,454,000 after acquiring an additional 761 shares in the last quarter. NewEdge Advisors LLC grew its holdings in Talen Energy by 17,400.0% during the 1st quarter. NewEdge Advisors LLC now owns 875 shares of the utilities provider’s stock worth $175,000 after acquiring an additional 870 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Talen Energy by 15.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 49,050 shares of the utilities provider’s stock valued at $9,794,000 after purchasing an additional 6,498 shares during the last quarter. Hedge funds and other institutional investors own 0.38% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on TLN. The Goldman Sachs Group initiated coverage on shares of Talen Energy in a research note on Thursday, June 18th. They set a “buy” rating and a $499.00 target price for the company. Raymond James Financial reiterated an “outperform” rating and issued a $457.00 price objective on shares of Talen Energy in a report on Monday, April 27th. JPMorgan Chase & Co. cut their price objective on shares of Talen Energy from $448.00 to $421.00 and set an “overweight” rating on the stock in a report on Thursday, March 19th. Morgan Stanley reissued an “overweight” rating and issued a $508.00 target price on shares of Talen Energy in a report on Wednesday. Finally, Weiss Ratings upgraded shares of Talen Energy from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, May 7th. Eleven investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $458.77.

Talen Energy Price Performance

Talen Energy stock opened at $416.80 on Friday. The company has a market cap of $19.96 billion, a P/E ratio of -622.08 and a beta of 1.80. Talen Energy Corporation has a one year low of $255.50 and a one year high of $451.28. The business has a fifty day moving average of $373.06 and a two-hundred day moving average of $360.67. The company has a debt-to-equity ratio of 6.32, a quick ratio of 1.05 and a current ratio of 1.25.

Insiders Place Their Bets

In other Talen Energy news, Director Gizman I. Abbas sold 2,600 shares of the 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 completion of the transaction, the director directly owned 2,606 shares of the company’s stock, valued at approximately $990,280. This trade represents a 49.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.78% of the company’s stock.

Talen Energy 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).