Abacus Life, Inc. (NASDAQ:ABL) Shares Acquired by Principal Financial Group Inc.

Principal Financial Group Inc. lifted its holdings in shares of Abacus Life, Inc. (NASDAQ:ABL - Free Report) by 7.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,011,143 shares of the company's stock after purchasing an additional 74,172 shares during the period. Principal Financial Group Inc. owned about 1.19% of Abacus Life worth $10,233,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. Point72 Asset Management L.P. acquired a new stake in shares of Abacus Life during the 2nd quarter worth about $5,190,000. Curi RMB Capital LLC lifted its stake in shares of Abacus Life by 2.4% during the third quarter. Curi RMB Capital LLC now owns 550,000 shares of the company's stock valued at $5,566,000 after buying an additional 12,765 shares during the period. Mendon Capital Advisors Corp acquired a new stake in Abacus Life during the second quarter worth approximately $4,974,000. Clearbridge Investments LLC purchased a new stake in Abacus Life in the 2nd quarter worth approximately $4,342,000. Finally, Franklin Resources Inc. raised its holdings in Abacus Life by 3.6% in the 3rd quarter. Franklin Resources Inc. now owns 437,733 shares of the company's stock valued at $4,382,000 after acquiring an additional 15,308 shares during the last quarter.

Insiders Place Their Bets

In other Abacus Life news, CEO Jay J. Jackson sold 2,031,250 shares of the business's stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $8.00, for a total transaction of $16,250,000.00. Following the transaction, the chief executive officer now owns 10,562,000 shares in the company, valued at $84,496,000. The trade was a 16.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Matthew Ganovsky sold 156,250 shares of the stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $8.00, for a total value of $1,250,000.00. Following the completion of the sale, the insider now owns 10,847,047 shares of the company's stock, valued at approximately $86,776,376. This trade represents a 1.42 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders acquired 36,367 shares of company stock worth $279,626 and sold 2,263,300 shares worth $18,106,400. 79.20% of the stock is owned by insiders.

Abacus Life Trading Up 1.0 %

ABL stock traded up $0.08 during trading on Tuesday, reaching $7.83. 160,967 shares of the stock traded hands, compared to its average volume of 95,866. The firm has a market capitalization of $663.04 million, a PE ratio of -43.50 and a beta of 0.13. 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 business's 50 day moving average price is $8.20 and its 200-day moving average price is $9.17. Abacus Life, Inc. has a 52-week low of $7.07 and a 52-week high of $13.25.

Abacus Life (NASDAQ:ABL - Get Free Report) last issued its earnings results on Thursday, November 7th. The company reported $0.20 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.14 by $0.06. Abacus Life had a positive return on equity of 12.88% and a negative net margin of 11.65%. The business had revenue of $28.15 million during the quarter, compared to analysts' expectations of $26.08 million. During the same quarter in the previous year, the business earned $0.01 EPS. As a group, sell-side analysts forecast that Abacus Life, Inc. will post 0.64 earnings per share for the current year.

Wall Street Analyst Weigh In

ABL has been the topic of several analyst reports. B. Riley raised their price objective on Abacus Life from $16.00 to $17.00 and gave the stock a "buy" rating in a report on Monday, November 25th. Piper Sandler reissued an "overweight" rating and issued a $13.00 price target (up from $12.00) on shares of Abacus Life in a research note on Friday, November 8th. Northland Securities started coverage on shares of Abacus Life in a research note on Thursday, October 24th. They set an "outperform" rating and a $13.50 price objective for the company. Finally, Northland Capmk raised shares of Abacus Life to a "strong-buy" rating in a research report on Thursday, October 24th. Five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Abacus Life has a consensus rating of "Buy" and a consensus target price of $14.70.

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.