14,050 Shares in Abacus Life, Inc. (NASDAQ:ABL) Purchased by Geneos Wealth Management Inc.

Geneos Wealth Management Inc. purchased a new stake in Abacus Life, Inc. (NASDAQ:ABL) in the 4th quarter, HoldingsChannel.com reports. The fund purchased 14,050 shares of the company’s stock, valued at approximately $110,000.

A number of other hedge funds also recently modified their holdings of ABL. Principal Financial Group Inc. boosted its position in shares of Abacus Life by 7.9% during the 3rd quarter. Principal Financial Group Inc. now owns 1,011,143 shares of the company’s stock valued at $10,233,000 after acquiring an additional 74,172 shares in the last quarter. Curi RMB Capital LLC boosted its holdings in 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 purchasing an additional 12,765 shares in the last quarter. Clearbridge Investments LLC bought a new stake in shares of Abacus Life in the 2nd quarter valued at approximately $4,342,000. Franklin Resources Inc. raised its holdings in shares of Abacus Life by 3.6% in the 3rd 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 in the last quarter. Finally, Royce & Associates LP lifted its position in shares of Abacus Life by 35.0% during the 3rd quarter. Royce & Associates LP now owns 297,000 shares of the company’s stock worth $3,006,000 after buying an additional 77,000 shares during the period.

Abacus Life Trading Up 1.4 %

ABL opened at $7.89 on Friday. Abacus Life, Inc. has a 1-year low of $6.75 and a 1-year high of $13.25. The firm has a 50-day moving average price of $7.72 and a two-hundred day moving average price of $8.97. The stock has a market capitalization of $668.13 million, a PE ratio of -43.83 and a beta of 0.14. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.65.

Abacus Life (NASDAQ:ABL) last posted its quarterly earnings data on Thursday, November 7th. The company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.06. Abacus Life had a negative net margin of 11.65% and a positive return on equity of 12.88%. The firm 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 company posted $0.01 EPS. As a group, equities analysts anticipate that Abacus Life, Inc. will post 0.62 earnings per share for the current fiscal year.

Insider Transactions at Abacus Life

In other Abacus Life news, CEO Jay J. Jackson sold 2,031,250 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $8.00, for a total value of $16,250,000.00. Following the transaction, the chief executive officer now directly owns 10,562,000 shares of the company’s stock, valued at approximately $84,496,000. This trade represents a 16.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Sean Mcnealy sold 75,800 shares of the company’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $8.00, for a total transaction of $606,400.00. Following the sale, the insider now owns 12,361,500 shares of the company’s stock, valued at $98,892,000. The trade was a 0.61 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders bought 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 currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have issued reports on ABL shares. Northland Securities initiated coverage on Abacus Life in a research note on Thursday, October 24th. They set an “outperform” rating and a $13.50 price objective for the company. Northland Capmk raised shares of Abacus Life to a “strong-buy” rating in a report on Thursday, October 24th. B. Riley decreased their price objective on shares of Abacus Life from $17.00 to $15.00 and set a “buy” rating on the stock in a research note on Tuesday, January 7th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $13.00 target price (up previously from $12.00) on shares of Abacus Life in a research note on Friday, November 8th. Five investment 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, the stock presently has an average rating of “Buy” and a consensus target price of $14.30.

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.