Charles Schwab Investment Management Inc. Invests $614,000 in Abacus Life, Inc. (NASDAQ:ABL)

Charles Schwab Investment Management Inc. acquired a new position in Abacus Life, Inc. (NASDAQ:ABL) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 60,636 shares of the company’s stock, valued at approximately $614,000. Charles Schwab Investment Management Inc. owned approximately 0.08% of Abacus Life at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC acquired a new position in shares of Abacus Life during the second quarter worth approximately $9,909,000. Principal Financial Group Inc. bought a new stake in Abacus Life in the 2nd quarter valued at $8,105,000. Stieven Capital Advisors L.P. bought a new stake in Abacus Life in the 2nd quarter valued at $2,811,000. Levin Capital Strategies L.P. acquired a new stake in Abacus Life in the 2nd quarter worth $130,000. Finally, Renaissance Technologies LLC bought a new position in shares of Abacus Life during the 2nd quarter worth about $106,000.

Insider Activity

In other Abacus Life news, CEO Jay J. Jackson sold 2,031,250 shares of Abacus Life 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 owns 10,562,000 shares of the company’s stock, valued at approximately $84,496,000. The trade was a 16.13 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Adam Samuel Gusky acquired 18,241 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The shares were bought at an average price of $7.54 per share, for a total transaction of $137,537.14. Following the completion of the acquisition, the director now owns 40,959 shares of the company’s stock, valued at $308,830.86. This trade represents a 80.29 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought 36,367 shares of company stock valued at $279,626 in the last quarter. Company insiders own 79.20% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. B. Riley upped their price target on Abacus Life from $16.00 to $17.00 and gave the company a “buy” rating in a report on Monday, November 25th. Northland Securities initiated coverage on Abacus Life in a research report on Thursday, October 24th. They issued an “outperform” rating and a $13.50 target price for the company. Piper Sandler restated an “overweight” rating and issued a $13.00 price objective (up previously from $12.00) on shares of Abacus Life in a research note on Friday, November 8th. Northland Capmk upgraded shares of Abacus Life to a “strong-buy” rating in a research report on Thursday, October 24th. Finally, B. Riley Financial reissued a “buy” rating and issued a $16.00 price target on shares of Abacus Life in a research report on Friday, August 30th. Five equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $14.70.

Abacus Life Trading Down 1.9 %

Shares of NASDAQ ABL opened at $7.55 on Thursday. The company’s 50 day simple moving average is $8.59 and its 200 day simple moving average is $9.39. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.29 and a quick ratio of 1.29. Abacus Life, Inc. has a fifty-two week low of $7.07 and a fifty-two week high of $13.25. The firm has a market capitalization of $639.33 million, a P/E ratio of -41.94 and a beta of 0.13.

Abacus Life (NASDAQ:ABL) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.06. Abacus Life had a positive return on equity of 12.88% and a negative net margin of 11.65%. The business had revenue of $28.15 million during the quarter, compared to analysts’ expectations of $26.08 million. During the same period in the previous year, the firm earned $0.01 earnings per share. On average, analysts predict that Abacus Life, Inc. will post 0.64 EPS for the current year.

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.