Sei Investments Co. Decreases Holdings in Talen Energy Corporation $TLN

Sei Investments Co. trimmed its holdings in Talen Energy Corporation (NASDAQ:TLN) by 18.2% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 137,868 shares of the utilities provider’s stock after selling 30,623 shares during the quarter. Sei Investments Co. owned 0.30% of Talen Energy worth $44,015,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. State of Wyoming raised its position in Talen Energy by 86.1% in the 1st quarter. State of Wyoming now owns 3,466 shares of the utilities provider’s stock worth $1,106,000 after purchasing an additional 1,604 shares during the period. Cetera Investment Advisers grew its stake in shares of Talen Energy by 1.4% during the first quarter. Cetera Investment Advisers now owns 7,817 shares of the utilities provider’s stock valued at $2,495,000 after buying an additional 109 shares during the last quarter. First Trust Advisors LP grew its stake in shares of Talen Energy by 5.7% during the first quarter. First Trust Advisors LP now owns 61,815 shares of the utilities provider’s stock valued at $19,733,000 after buying an additional 3,327 shares during the last quarter. Himension Capital Singapore PTE. LTD. purchased a new position in shares of Talen Energy in the first quarter worth about $524,000. Finally, PNC Financial Services Group Inc. increased its holdings in shares of Talen Energy by 8.2% in the first quarter. PNC Financial Services Group Inc. now owns 2,014 shares of the utilities provider’s stock worth $643,000 after buying an additional 152 shares during the period. Hedge funds and other institutional investors own 0.38% of the company’s stock.

Insider Buying and Selling

In other Talen Energy news, Director Gizman I. Abbas sold 2,600 shares of the company’s stock in a transaction that occurred on 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 transaction, the director owned 2,606 shares of the company’s stock, valued at $990,280. This represents a 49.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.78% of the stock is owned by insiders.

Talen Energy Stock Performance

Talen Energy stock opened at $359.90 on Monday. The company has a current ratio of 1.25, a quick ratio of 1.05 and a debt-to-equity ratio of 6.32. The firm has a market cap of $17.24 billion, a P/E ratio of -537.16 and a beta of 1.82. Talen Energy Corporation has a 1-year low of $301.45 and a 1-year high of $451.28. The firm has a 50-day moving average of $379.23 and a 200-day moving average of $361.58.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on TLN. Wells Fargo & Company increased their target price on Talen Energy from $465.00 to $477.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. Jefferies Financial Group decreased their price target on Talen Energy from $453.00 to $422.00 and set a “hold” rating on the stock in a research note on Monday, July 20th. Weiss Ratings upgraded Talen Energy from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, May 7th. The Goldman Sachs Group started coverage on Talen Energy in a research note on Thursday, June 18th. They set a “buy” rating and a $499.00 price objective for the company. Finally, Raymond James Financial restated an “outperform” rating and issued a $457.00 target price on shares of Talen Energy in a report on Monday, April 27th. Nine analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, Talen Energy currently has an average rating of “Moderate Buy” and an average target price of $476.27.

Talen Energy Company 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).