Talen Energy Corporation $TLN Stock Holdings Decreased by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lowered its position in shares of Talen Energy Corporation (NASDAQ:TLN) by 6.5% during the first quarter, Holdings Channel reports. The fund owned 23,637 shares of the utilities provider’s stock after selling 1,648 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Talen Energy were worth $7,546,000 at the end of the most recent quarter.

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

Talen Energy Stock Performance

Shares of TLN stock opened at $340.00 on Wednesday. The company has a debt-to-equity ratio of 6.32, a current ratio of 1.25 and a quick ratio of 1.05. Talen Energy Corporation has a fifty-two week low of $301.45 and a fifty-two week high of $451.28. The stock’s 50-day moving average is $376.49 and its two-hundred day moving average is $359.65. The firm has a market cap of $16.29 billion, a P/E ratio of -507.46 and a beta of 1.90.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Jefferies Financial Group decreased their target price on Talen Energy from $453.00 to $422.00 and set a “hold” rating for the company in a research report on Monday, July 20th. Barclays reduced their price objective on Talen Energy from $411.00 to $408.00 and set an “overweight” rating for the company in a research note on Tuesday, July 28th. Raymond James Financial restated an “outperform” rating and set a $457.00 price objective on shares of Talen Energy in a research report on Monday, April 27th. Morgan Stanley reaffirmed an “overweight” rating and set a $508.00 target price on shares of Talen Energy in a research note on Wednesday, June 24th. Finally, Wells Fargo & Company upped their target price on Talen Energy from $477.00 to $482.00 and gave the company an “overweight” rating in a report on Monday, July 27th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $476.45.

Insider Activity

In other news, Director Gizman I. Abbas sold 2,600 shares of Talen Energy stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $380.00, for a total transaction of $988,000.00. Following the completion of the sale, the director directly owned 2,606 shares in the company, valued at $990,280. The trade was a 49.94% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.78% of the stock is currently owned by corporate insiders.

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).