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

Principal Financial Group Inc. raised its stake in Abacus Life, Inc. (NASDAQ:ABL - Free Report) by 7.9% in the 3rd quarter, according to its most recent filing with the SEC. The fund 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 1.58% of Abacus Life worth $10,233,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Evernest Financial Advisors LLC bought a new stake in shares of Abacus Life in the 3rd quarter worth about $681,000. Clearbridge Investments LLC acquired a new position in shares of Abacus Life in the 2nd quarter valued at about $4,342,000. Mendon Capital Advisors Corp acquired a new stake in Abacus Life during the second quarter worth about $4,974,000. Richard W. Paul & Associates LLC lifted its holdings in Abacus Life by 4.8% in the second quarter. Richard W. Paul & Associates LLC now owns 30,448 shares of the company's stock worth $263,000 after acquiring an additional 1,401 shares during the last quarter. Finally, Renaissance Technologies LLC acquired a new position in Abacus Life in the second quarter valued at approximately $106,000.

Analyst Upgrades and Downgrades

Several research firms have recently commented on ABL. Northland Securities began coverage on Abacus Life in a report on Thursday, October 24th. They set an "outperform" rating and a $13.50 target price for the company. Northland Capmk raised Abacus Life to a "strong-buy" rating in a report on Thursday, October 24th. TD Cowen began coverage on Abacus Life in a report on Wednesday, August 7th. They set a "buy" rating and a $14.00 target price for the company. B. Riley Financial reaffirmed a "buy" rating and set a $16.00 target price on shares of Abacus Life in a report on Friday, August 30th. Finally, Piper Sandler reaffirmed an "overweight" rating and set a $13.00 target price (up from $12.00) on shares of Abacus Life in a report on Friday, November 8th. Five investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $14.50.

Abacus Life Price Performance

Shares of NASDAQ ABL remained flat at $8.43 during midday trading on Tuesday. The stock had a trading volume of 26,462 shares, compared to its average volume of 63,013. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.29 and a current ratio of 1.29. The business's fifty day moving average is $9.40 and its 200 day moving average is $9.89. The stock has a market cap of $629.30 million, a price-to-earnings ratio of -46.83 and a beta of 0.15. Abacus Life, Inc. has a fifty-two week low of $6.22 and a fifty-two week high of $13.25.

Abacus Life (NASDAQ:ABL - Get Free Report) last released its earnings results on Thursday, November 7th. The company reported $0.20 earnings per share for the quarter, topping analysts' consensus estimates of $0.14 by $0.06. The firm had revenue of $28.15 million during the quarter, compared to the consensus estimate of $26.08 million. Abacus Life had a positive return on equity of 12.88% and a negative net margin of 11.65%. During the same period in the prior year, the firm posted $0.01 earnings per share. On average, analysts expect that Abacus Life, Inc. will post 0.6 EPS for the current fiscal year.

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.