Spirit of America Management Corp NY Has $564,000 Position in Talen Energy Corporation (NASDAQ:TLN)

Spirit of America Management Corp NY grew its holdings in Talen Energy Corporation (NASDAQ:TLN) by 133.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,800 shares of the utilities provider’s stock after buying an additional 1,600 shares during the quarter. Spirit of America Management Corp NY’s holdings in Talen Energy were worth $564,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. BNP Paribas Financial Markets bought a new position in Talen Energy in the third quarter valued at about $36,000. Geneos Wealth Management Inc. acquired a new position in Talen Energy during the 4th quarter valued at about $39,000. SG Americas Securities LLC bought a new position in shares of Talen Energy in the 4th quarter valued at about $152,000. World Equity Group Inc. acquired a new stake in Talen Energy during the 3rd quarter worth $237,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Talen Energy in the 4th quarter worth $240,000. 0.38% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Talen Energy

In other Talen Energy news, major shareholder Rubric Capital Management Lp sold 4,893,507 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $204.35, for a total value of $999,988,155.45. Following the completion of the transaction, 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 legal filing with the SEC, which can be accessed through this link.

Talen Energy Stock Performance

NASDAQ TLN opened at $234.42 on Wednesday. Talen Energy Corporation has a 1 year low of $64.51 and a 1 year high of $258.03. The firm has a market capitalization of $11.92 billion, a price-to-earnings ratio of 12.55 and a beta of 1.70. The company has a current ratio of 4.10, a quick ratio of 3.37 and a debt-to-equity ratio of 1.07. The firm’s 50 day simple moving average is $215.64 and its 200 day simple moving average is $164.79.

Analyst Ratings Changes

Several brokerages have commented on TLN. UBS Group upped their target price on shares of Talen Energy from $242.00 to $269.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. Barclays raised their price objective on Talen Energy from $245.00 to $293.00 and gave the stock an “overweight” rating in a research note on Monday, January 27th. JPMorgan Chase & Co. assumed coverage on Talen Energy in a report on Thursday, October 17th. They set an “overweight” rating and a $268.00 target price on the stock. Oppenheimer increased their price target on Talen Energy from $225.00 to $250.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. Finally, Daiwa Capital Markets began coverage on Talen Energy in a report on Wednesday, December 4th. They set a “buy” rating and a $248.00 price objective on the stock. Eleven research analysts have rated the stock with a buy rating, According to MarketBeat, Talen Energy has a consensus rating of “Buy” and an average target price of $232.00.

Talen Energy Company 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.