Principal Financial Group Inc. Makes New Investment in Talen Energy Corporation (NASDAQ:TLN)

Principal Financial Group Inc. purchased a new position in shares of Talen Energy Corporation (NASDAQ:TLN) in the 4th quarter, Holdings Channel.com reports. The fund purchased 1,671 shares of the utilities provider’s stock, valued at approximately $337,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Allworth Financial LP boosted its position in shares of Talen Energy by 170.6% in the fourth quarter. Allworth Financial LP now owns 184 shares of the utilities provider’s stock worth $37,000 after buying an additional 116 shares during the period. Geneos Wealth Management Inc. purchased a new stake in shares of Talen Energy in the fourth quarter worth about $39,000. BNP Paribas Financial Markets purchased a new stake in shares of Talen Energy in the third quarter worth about $36,000. Empowered Funds LLC purchased a new stake in shares of Talen Energy in the fourth quarter worth about $42,000. Finally, SG Americas Securities LLC purchased a new stake in shares of Talen Energy in the fourth quarter worth about $152,000. 0.38% of the stock is currently owned by institutional investors and hedge funds.

Talen Energy Trading Down 2.4 %

Shares of NASDAQ TLN opened at $176.24 on Friday. The stock’s 50 day moving average price is $222.09 and its two-hundred day moving average price is $181.48. Talen Energy Corporation has a 52-week low of $83.14 and a 52-week high of $258.03. The stock has a market capitalization of $8.10 billion, a P/E ratio of 9.43, a PEG ratio of 2.70 and a beta of 2.00. The company has a quick ratio of 3.37, a current ratio of 4.10 and a debt-to-equity ratio of 1.07.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Daiwa Capital Markets assumed coverage on Talen Energy in a research report on Wednesday, December 4th. They issued a “buy” rating and a $248.00 target price for the company. Evercore ISI assumed coverage on Talen Energy in a research report on Friday, February 21st. They issued an “outperform” rating for the company. Oppenheimer upped their target price on Talen Energy from $225.00 to $250.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. Barclays decreased their target price on Talen Energy from $293.00 to $282.00 and set an “overweight” rating for the company in a research report on Tuesday. Finally, UBS Group increased their price target on Talen Energy from $242.00 to $269.00 and gave the company a “buy” rating in a report on Friday, January 3rd. Eleven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $246.00.

Insider Transactions at Talen Energy

In other news, major shareholder Rubric Capital Management Lp sold 4,893,507 shares of the stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $204.35, for a total transaction of $999,988,155.45. Following the sale, the insider now directly owns 6,475,107 shares in the company, valued at approximately $1,323,188,115.45. This represents a 43.04 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.18% of the company’s stock.

Talen Energy 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.