Principal Financial Group Inc. cut its position in shares of Abacus Life, Inc. (NASDAQ:ABL – Free Report) by 6.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 944,440 shares of the company’s stock after selling 66,703 shares during the period. Principal Financial Group Inc.’s holdings in Abacus Life were worth $7,395,000 as of its most recent filing with the SEC.
Other hedge funds have also recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. purchased a new stake in Abacus Life during the fourth quarter worth $110,000. Charles Schwab Investment Management Inc. purchased a new stake in Abacus Life during the third quarter worth $614,000. Evernest Financial Advisors LLC boosted its holdings in Abacus Life by 63.8% during the fourth quarter. Evernest Financial Advisors LLC now owns 110,250 shares of the company’s stock worth $863,000 after buying an additional 42,950 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Abacus Life by 439.6% during the third quarter. Geode Capital Management LLC now owns 171,917 shares of the company’s stock worth $1,741,000 after buying an additional 140,054 shares in the last quarter. Finally, Royce & Associates LP boosted its holdings in Abacus Life by 35.0% during the third quarter. Royce & Associates LP now owns 297,000 shares of the company’s stock worth $3,006,000 after buying an additional 77,000 shares in the last quarter.
Abacus Life Stock Performance
ABL opened at $7.78 on Friday. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.65. The company has a market cap of $751.90 million, a price-to-earnings ratio of -43.22 and a beta of 0.14. Abacus Life, Inc. has a 52-week low of $6.75 and a 52-week high of $12.65. The firm’s fifty day simple moving average is $7.64 and its two-hundred day simple moving average is $8.66.
Analysts Set New Price Targets
A number of brokerages recently issued reports on ABL. Piper Sandler reissued an “overweight” rating and set a $13.00 price target (up from $12.00) on shares of Abacus Life in a report on Friday, November 8th. B. Riley decreased their price objective on shares of Abacus Life from $17.00 to $15.00 and set a “buy” rating on the stock in a report on Tuesday, January 7th. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $14.30.
Check Out Our Latest Research Report on Abacus Life
Insider Buying and Selling at Abacus Life
In other news, insider Sean Mcnealy sold 75,800 shares of the firm’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $8.00, for a total value of $606,400.00. Following the transaction, the insider now directly owns 12,361,500 shares of the company’s stock, valued at approximately $98,892,000. This trade represents a 0.61 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Adam Samuel Gusky purchased 6,000 shares of the firm’s stock in a transaction dated Monday, December 9th. The stock was acquired at an average cost of $7.94 per share, for a total transaction of $47,640.00. Following the completion of the purchase, the director now owns 49,085 shares of the company’s stock, valued at approximately $389,734.90. This represents a 13.93 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased a total of 18,126 shares of company stock valued at $142,089 over the last ninety days. Corporate insiders own 79.20% of the company’s stock.
About Abacus Life
(Free Report)
Abacus Life, Inc operates as an alternative asset manager specializing in life insurance products. It purchases life insurance policies from consumers seeking liquidity and manages policies over time via trading, holding, and/or servicing. The company was founded in 2004 and is based in Orlando, Florida.
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