Abacus Life, Inc. (NASDAQ:ABL) Position Increased by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC increased its stake in Abacus Life, Inc. (NASDAQ:ABL) by 23.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,399,204 shares of the company’s stock after purchasing an additional 263,036 shares during the period. Allspring Global Investments Holdings LLC owned 1.65% of Abacus Life worth $10,830,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in ABL. Geneos Wealth Management Inc. bought a new stake in shares of Abacus Life in the 4th quarter worth approximately $110,000. Charles Schwab Investment Management Inc. bought a new stake in shares of Abacus Life in the 3rd quarter worth approximately $614,000. Evernest Financial Advisors LLC bought a new stake in shares of Abacus Life in the 3rd quarter worth approximately $681,000. Geode Capital Management LLC lifted its holdings in shares of Abacus Life by 439.6% in the 3rd quarter. Geode Capital Management LLC now owns 171,917 shares of the company’s stock worth $1,741,000 after purchasing an additional 140,054 shares during the last quarter. Finally, Royce & Associates LP lifted its holdings in shares of Abacus Life by 35.0% in the 3rd quarter. Royce & Associates LP now owns 297,000 shares of the company’s stock worth $3,006,000 after purchasing an additional 77,000 shares during the last quarter.

Insider Activity

In related news, Director Adam Samuel Gusky bought 18,241 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The shares were acquired at an average cost of $7.54 per share, for a total transaction of $137,537.14. Following the acquisition, the director now directly owns 40,959 shares of the company’s stock, valued at $308,830.86. The trade was a 80.29 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Jay J. Jackson sold 2,031,250 shares of Abacus Life stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $8.00, for a total value of $16,250,000.00. Following the completion of the transaction, the chief executive officer now owns 10,562,000 shares in the company, valued at $84,496,000. The trade was a 16.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have bought 36,367 shares of company stock worth $279,626 and have sold 2,263,300 shares worth $18,106,400. 79.20% of the stock is owned by insiders.

Abacus Life Stock Down 1.3 %

Shares of Abacus Life stock opened at $7.67 on Tuesday. Abacus Life, Inc. has a 1-year low of $6.75 and a 1-year high of $12.65. The company has a market capitalization of $741.23 million, a P/E ratio of -42.61 and a beta of 0.14. The business’s fifty day moving average price is $7.68 and its two-hundred day moving average price is $8.81. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.29 and a quick ratio of 1.29.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on ABL shares. B. Riley cut their price target on Abacus Life from $17.00 to $15.00 and set a “buy” rating on the stock in a report on Tuesday, January 7th. Northland Securities began coverage on Abacus Life in a research note on Thursday, October 24th. They set an “outperform” rating and a $13.50 target price on the stock. Northland Capmk raised Abacus Life to a “strong-buy” rating in a research note on Thursday, October 24th. Finally, Piper Sandler reaffirmed an “overweight” rating and set 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 assigned a strong buy rating to the company. Based on data from MarketBeat.com, Abacus Life currently has a consensus rating of “Buy” and a consensus price target 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.