Franklin Resources Inc. Increases Stock Holdings in Abacus Life, Inc. (NASDAQ:ABL)

Franklin Resources Inc. grew its holdings in shares of Abacus Life, Inc. (NASDAQ:ABL - Free Report) by 32.0% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 577,768 shares of the company's stock after purchasing an additional 140,035 shares during the period. Franklin Resources Inc. owned approximately 0.60% of Abacus Life worth $4,524,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Clearbridge Investments LLC boosted its holdings in Abacus Life by 24.0% in the fourth quarter. Clearbridge Investments LLC now owns 645,712 shares of the company's stock worth $5,056,000 after purchasing an additional 124,792 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Abacus Life by 640.9% in the 4th quarter. JPMorgan Chase & Co. now owns 16,670 shares of the company's stock worth $131,000 after buying an additional 14,420 shares during the last quarter. LPL Financial LLC grew its holdings in shares of Abacus Life by 31.0% in the fourth quarter. LPL Financial LLC now owns 23,288 shares of the company's stock worth $182,000 after acquiring an additional 5,507 shares during the period. Sei Investments Co. increased its position in Abacus Life by 38.8% during the fourth quarter. Sei Investments Co. now owns 81,525 shares of the company's stock valued at $638,000 after acquiring an additional 22,783 shares during the last quarter. Finally, Royce & Associates LP boosted its position in Abacus Life by 339.9% in the fourth quarter. Royce & Associates LP now owns 1,306,431 shares of the company's stock worth $10,229,000 after purchasing an additional 1,009,431 shares during the last quarter.

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Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Piper Sandler lowered their target price on Abacus Life from $13.00 to $11.50 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. B. Riley reduced their price objective on shares of Abacus Life from $17.00 to $15.00 and set a "buy" rating for the company in a research note on Tuesday, January 7th. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $14.00.

Abacus Life Price Performance

Shares of ABL stock traded down $0.04 during mid-day trading on Wednesday, hitting $7.96. The company had a trading volume of 89,608 shares, compared to its average volume of 164,717. The company has a market capitalization of $770.95 million, a P/E ratio of -44.22 and a beta of 0.16. The stock's 50 day moving average price is $7.50 and its 200-day moving average price is $8.02. Abacus Life, Inc. has a 52-week low of $6.34 and a 52-week high of $12.45. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.29 and a quick ratio of 1.29.

Abacus Life (NASDAQ:ABL - Get Free Report) last released its quarterly earnings data on Thursday, March 27th. The company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.13 by $0.03. Abacus Life had a negative net margin of 11.65% and a positive return on equity of 12.88%. The business had revenue of $33.21 million during the quarter, compared to the consensus estimate of $28.76 million. Equities research analysts forecast that Abacus Life, Inc. will post 0.62 earnings per share for the current year.

About Abacus Life

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.