Abacus Life, Inc. (NASDAQ:ABL) Shares Purchased by Richard W. Paul & Associates LLC

Richard W. Paul & Associates LLC grew its stake in shares of Abacus Life, Inc. (NASDAQ:ABL) by 7.5% during the fourth quarter, HoldingsChannel reports. The firm owned 41,836 shares of the company’s stock after buying an additional 2,934 shares during the period. Richard W. Paul & Associates LLC’s holdings in Abacus Life were worth $328,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Stieven Capital Advisors L.P. raised its holdings in shares of Abacus Life by 128.2% during the 4th quarter. Stieven Capital Advisors L.P. now owns 741,810 shares of the company’s stock valued at $5,808,000 after buying an additional 416,800 shares during the period. Allspring Global Investments Holdings LLC grew its position in Abacus Life by 23.2% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,399,204 shares of the company’s stock valued at $10,830,000 after acquiring an additional 263,036 shares in the last quarter. Evernest Financial Advisors LLC raised its stake in shares of Abacus Life by 63.8% during the fourth quarter. Evernest Financial Advisors LLC now owns 110,250 shares of the company’s stock valued at $863,000 after purchasing an additional 42,950 shares during the period. Geneos Wealth Management Inc. acquired a new position in shares of Abacus Life during the fourth quarter worth $110,000. Finally, Principal Financial Group Inc. boosted its stake in shares of Abacus Life by 7.9% in the third quarter. Principal Financial Group Inc. now owns 1,011,143 shares of the company’s stock valued at $10,233,000 after purchasing an additional 74,172 shares during the period.

Insider Activity

In other news, Director Adam Samuel Gusky purchased 6,000 shares of the stock in a transaction dated Monday, December 9th. The stock was acquired at an average cost of $7.94 per share, for a total transaction of $47,640.00. Following the acquisition, the director now owns 49,085 shares of the company’s stock, valued at $389,734.90. The trade was a 13.93 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Sean Mcnealy sold 75,800 shares of the firm’s stock in a transaction on Friday, December 20th. The stock was 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. This trade represents a 0.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have purchased 18,126 shares of company stock worth $142,089. 79.20% of the stock is currently owned by corporate insiders.

Abacus Life Trading Up 1.2 %

ABL opened at $7.78 on Friday. Abacus Life, Inc. has a 12-month low of $6.75 and a 12-month high of $12.65. 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 stock has a market capitalization of $751.90 million, a PE ratio of -43.22 and a beta of 0.14. The firm’s fifty day moving average price is $7.63 and its 200 day moving average price is $8.70.

Analysts Set New Price Targets

ABL has been the topic of several analyst reports. B. Riley dropped their price target 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. Piper Sandler reaffirmed an “overweight” rating and set a $13.00 target price (up from $12.00) on shares of Abacus Life in a research report on Friday, November 8th. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $14.30.

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.