Piper Sandler Has Lowered Expectations for Abacus Life (NASDAQ:ABL) Stock Price

Abacus Life (NASDAQ:ABL - Free Report) had its price target reduced by Piper Sandler from $13.00 to $11.50 in a research note issued to investors on Tuesday,Benzinga reports. They currently have an overweight rating on the stock.

Separately, B. Riley lowered their price target on Abacus Life from $17.00 to $15.00 and set a "buy" rating on the stock in a research report on Tuesday, January 7th. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Abacus Life currently has a consensus rating of "Buy" and an average price target of $14.00.

Abacus Life Stock Performance

NASDAQ:ABL traded up $0.72 during midday trading on Tuesday, reaching $7.85. 1,523,453 shares of the company traded hands, compared to its average volume of 161,369. Abacus Life has a twelve month low of $6.34 and a twelve month high of $12.50. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.29 and a quick ratio of 1.29. The company has a fifty day moving average price of $7.49 and a 200 day moving average price of $8.05. The firm has a market capitalization of $760.30 million, a price-to-earnings ratio of -43.61 and a beta of 0.16.

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

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Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in ABL. Charles Schwab Investment Management Inc. purchased a new stake in shares of Abacus Life in the 3rd quarter valued at approximately $614,000. Geode Capital Management LLC lifted its holdings in shares of Abacus Life by 439.6% in the third quarter. Geode Capital Management LLC now owns 171,917 shares of the company's stock valued at $1,741,000 after purchasing an additional 140,054 shares in the last quarter. Franklin Resources Inc. boosted its position in shares of Abacus Life by 3.6% in the third quarter. Franklin Resources Inc. now owns 437,733 shares of the company's stock worth $4,382,000 after buying an additional 15,308 shares during the period. Principal Financial Group Inc. grew its holdings in shares of Abacus Life by 7.9% during the third quarter. Principal Financial Group Inc. now owns 1,011,143 shares of the company's stock valued at $10,233,000 after buying an additional 74,172 shares in the last quarter. Finally, Geneos Wealth Management Inc. purchased a new position in shares of Abacus Life during the fourth quarter valued at $110,000.

Abacus Life Company Profile

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.