Principal Financial Group Inc. lowered its position in Abacus Life, Inc. (NASDAQ:ABL - Free Report) by 6.6% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 944,440 shares of the company's stock after selling 66,703 shares during the period. Principal Financial Group Inc. owned 0.98% of Abacus Life worth $7,395,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also bought and sold shares of the company. Geneos Wealth Management Inc. acquired a new position in Abacus Life during the 4th quarter valued at about $110,000. Charles Schwab Investment Management Inc. purchased a new stake in Abacus Life in the 3rd quarter worth about $614,000. Evernest Financial Advisors LLC boosted its holdings in Abacus Life by 63.8% in the 4th 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 during the period. Geode Capital Management LLC boosted its stake in Abacus Life by 439.6% in the 3rd quarter. Geode Capital Management LLC now owns 171,917 shares of the company's stock worth $1,741,000 after purchasing an additional 140,054 shares during the period. Finally, Royce & Associates LP lifted its stake in Abacus Life by 35.0% in the 3rd quarter. Royce & Associates LP now owns 297,000 shares of the company's stock worth $3,006,000 after purchasing an additional 77,000 shares in the last quarter.
Wall Street Analyst Weigh In
ABL has been the subject of a number of research analyst reports. Piper Sandler reaffirmed an "overweight" rating and set a $13.00 price objective (up from $12.00) on shares of Abacus Life in a report on Friday, November 8th. B. Riley reduced their price objective on Abacus Life from $17.00 to $15.00 and set a "buy" rating on the stock 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 stock. According to MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $14.30.
Check Out Our Latest Research Report on ABL
Abacus Life Trading Up 1.6 %
Shares of NASDAQ:ABL traded up $0.12 during midday trading on Wednesday, hitting $7.67. 127,008 shares of the stock traded hands, compared to its average volume of 207,514. Abacus Life, Inc. has a one year low of $6.75 and a one year high of $12.65. The stock has a market capitalization of $741.27 million, a PE ratio of -42.61 and a beta of 0.14. 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 business's 50 day moving average is $7.64 and its two-hundred day moving average is $8.61.
Insider Transactions at Abacus Life
In related news, insider Sean Mcnealy sold 75,800 shares of the company'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 owns 12,361,500 shares in the company, valued at $98,892,000. The trade was a 0.61 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Adam Samuel Gusky bought 6,000 shares of the company's stock in a transaction dated Monday, December 9th. The stock was purchased at an average price of $7.94 per share, for a total transaction of $47,640.00. Following 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. In the last three months, insiders have acquired 18,126 shares of company stock worth $142,089. 79.20% of the stock is currently owned by insiders.
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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