Insider Selling: Talen Energy Corporation (NASDAQ:TLN) Major Shareholder Sells 4,893,507 Shares of Stock

Talen Energy Corporation (NASDAQ:TLN) major shareholder Rubric Capital Management Lp sold 4,893,507 shares of Talen Energy stock in a transaction 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 transaction, the insider now directly owns 6,475,107 shares of the company’s stock, valued at $1,323,188,115.45. This represents a 43.04 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Talen Energy Stock Down 5.0 %

Talen Energy stock opened at $195.52 on Thursday. Talen Energy Corporation has a fifty-two week low of $60.00 and a fifty-two week high of $230.89. The stock has a market cap of $9.94 billion and a PE ratio of 10.47. The firm’s 50-day simple moving average is $190.31 and its 200 day simple moving average is $134.77. The company has a debt-to-equity ratio of 1.07, a quick ratio of 3.37 and a current ratio of 4.10.

Analysts Set New Price Targets

A number of research firms have commented on TLN. JPMorgan Chase & Co. began coverage on shares of Talen Energy in a report on Thursday, October 17th. They issued an “overweight” rating and a $268.00 price target for the company. Jefferies Financial Group began coverage on shares of Talen Energy in a report on Friday, September 13th. They issued a “buy” rating and a $226.00 price target for the company. Oppenheimer raised their price target on shares of Talen Energy from $225.00 to $250.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. BWS Financial raised their price target on shares of Talen Energy from $145.00 to $185.00 and gave the stock a “buy” rating in a report on Friday, September 6th. Finally, UBS Group lifted their price objective on shares of Talen Energy from $197.00 to $242.00 and gave the company a “buy” rating in a report on Friday, November 15th. Ten analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Talen Energy currently has an average rating of “Buy” and an average price target of $222.40.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets purchased a new position in Talen Energy during the third quarter worth about $36,000. Spirit of America Management Corp NY purchased a new position in Talen Energy during the third quarter worth about $214,000. World Equity Group Inc. purchased a new position in Talen Energy during the third quarter worth about $237,000. Point72 Hong Kong Ltd purchased a new position in Talen Energy during the third quarter worth about $257,000. Finally, Tidal Investments LLC purchased a new position in Talen Energy during the third quarter worth about $304,000. 0.38% of the stock is currently owned by hedge funds and other institutional investors.

About Talen Energy

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.