Principal Financial Group Inc. Lowers Stock Position in Abacus Life, Inc. (NASDAQ:ABL)

Principal Financial Group Inc. lessened its holdings in Abacus Life, Inc. (NASDAQ:ABL) by 6.6% in the 4th 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 about 0.98% of Abacus Life worth $7,395,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the business. Allspring Global Investments Holdings LLC lifted its position in shares of Abacus Life by 23.2% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,399,204 shares of the company’s stock worth $10,830,000 after purchasing an additional 263,036 shares during the period. Stieven Capital Advisors L.P. raised its stake 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 worth $5,808,000 after acquiring an additional 416,800 shares in the last quarter. Curi RMB Capital LLC raised its stake in shares of Abacus Life by 2.4% during the 3rd quarter. Curi RMB Capital LLC now owns 550,000 shares of the company’s stock worth $5,566,000 after acquiring an additional 12,765 shares in the last quarter. Franklin Resources Inc. raised its stake in shares of Abacus Life by 3.6% during the 3rd quarter. Franklin Resources Inc. now owns 437,733 shares of the company’s stock worth $4,382,000 after acquiring an additional 15,308 shares in the last quarter. Finally, Royce & Associates LP raised its stake 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 acquiring an additional 77,000 shares in the last quarter.

Wall Street Analyst Weigh In

Several research firms recently commented on ABL. Piper Sandler reiterated an “overweight” rating and set a $13.00 price objective (up previously from $12.00) on shares of Abacus Life in a research note on Friday, November 8th. B. Riley reduced their price objective on shares of Abacus Life from $17.00 to $15.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. Five research 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 currently has a consensus rating of “Buy” and a consensus target price of $14.30.

Insider Buying and Selling at Abacus Life

In other news, insider Sean Mcnealy sold 75,800 shares of the stock in a transaction on Friday, December 20th. The shares were sold at an average price of $8.00, for a total value of $606,400.00. Following the sale, the insider now owns 12,361,500 shares in the company, valued at $98,892,000. This represents a 0.61 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Adam Samuel Gusky acquired 6,000 shares of the business’s stock in a transaction dated Monday, December 9th. The stock was acquired at an average price of $7.94 per share, for a total transaction of $47,640.00. Following the purchase, the director now directly owns 49,085 shares of the company’s stock, valued at approximately $389,734.90. This trade represents a 13.93 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 18,126 shares of company stock worth $142,089. 79.20% of the stock is owned by corporate insiders.

Abacus Life Trading Up 1.2 %

Shares of Abacus Life stock opened at $7.78 on Friday. 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, Inc. has a 12-month low of $6.75 and a 12-month high of $12.65. The firm has a market capitalization of $751.90 million, a price-to-earnings ratio of -43.22 and a beta of 0.14. The firm’s 50 day simple moving average is $7.64 and its two-hundred day simple moving average is $8.66.

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.