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

Principal Financial Group Inc. lifted its stake in shares of Abacus Life, Inc. (NASDAQ:ABL) by 7.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,011,143 shares of the company’s stock after acquiring an additional 74,172 shares during the period. Principal Financial Group Inc.’s holdings in Abacus Life were worth $10,233,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of ABL. Allspring Global Investments Holdings LLC acquired a new position in Abacus Life in the second quarter valued at $9,909,000. Point72 Asset Management L.P. purchased a new position in shares of Abacus Life in the 2nd quarter worth about $5,190,000. Mendon Capital Advisors Corp acquired a new position in shares of Abacus Life in the 2nd quarter valued at about $4,974,000. Clearbridge Investments LLC purchased a new stake in shares of Abacus Life during the 2nd quarter worth about $4,342,000. Finally, Stieven Capital Advisors L.P. acquired a new stake in Abacus Life during the 2nd quarter worth approximately $2,811,000.

Abacus Life Price Performance

Shares of ABL stock opened at $8.43 on Tuesday. Abacus Life, Inc. has a twelve month low of $6.22 and a twelve month high of $13.25. The company has a market capitalization of $629.31 million, a PE ratio of -46.83 and a beta of 0.15. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.65. The firm has a fifty day simple moving average of $9.43 and a 200-day simple moving average of $9.91.

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, beating analysts’ consensus estimates 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 company had revenue of $28.15 million during the quarter, compared to analysts’ expectations of $26.08 million. During the same period in the prior year, the company posted $0.01 EPS. Equities research analysts anticipate that Abacus Life, Inc. will post 0.6 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have weighed in on ABL. Northland Capmk raised shares of Abacus Life to a “strong-buy” rating in a research report on Thursday, October 24th. B. Riley Financial reaffirmed a “buy” rating and set a $16.00 price target on shares of Abacus Life in a research report on Friday, August 30th. Piper Sandler reiterated an “overweight” rating and issued a $13.00 price target (up from $12.00) on shares of Abacus Life in a report on Friday, November 8th. Northland Securities started coverage on Abacus Life in a research note on Thursday, October 24th. They set an “outperform” rating and a $13.50 price objective on the stock. Finally, B. Riley reaffirmed a “buy” rating and issued a $16.00 target price (up previously from $15.00) on shares of Abacus Life in a research report on Thursday, August 29th. Five investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Abacus Life has a consensus rating of “Buy” and a consensus target price of $14.50.

Abacus Life 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.