Abacus Life (NASDAQ:ABL) Price Target Raised to $11.00

Abacus Life (NASDAQ:ABL) had its target price increased by Piper Sandler from $9.00 to $11.00 in a research report released on Tuesday,Benzinga reports. The firm currently has an overweight rating on the stock.

Several other equities analysts also recently commented on ABL. B. Riley raised Abacus Life to a “strong-buy” rating in a research report on Friday, November 7th. Weiss Ratings restated a “sell (d+)” rating on shares of Abacus Life in a research note on Monday, December 15th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Abacus Life has an average rating of “Moderate Buy” and an average price target of $13.33.

Abacus Life Stock Performance

ABL opened at $8.68 on Tuesday. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.67. The business’s 50 day moving average is $6.64 and its 200-day moving average is $6.15. The stock has a market cap of $847.98 million, a PE ratio of 108.44 and a beta of -0.06. Abacus Life has a twelve month low of $4.60 and a twelve month high of $9.61.

Abacus Life (NASDAQ:ABL) last announced its quarterly earnings data on Thursday, November 6th. The company reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.02. Abacus Life had a return on equity of 16.90% and a net margin of 5.62%.The business had revenue of $62.98 million during the quarter, compared to analyst estimates of $47.42 million. On average, analysts predict that Abacus Life will post 0.62 earnings per share for the current year.

Abacus Life Dividend Announcement

The business also recently disclosed an annual dividend, which was paid on Wednesday, December 17th. Shareholders of record on Tuesday, December 2nd were issued a dividend of $0.20 per share. This represents a yield of 311.0%. The ex-dividend date of this dividend was Tuesday, December 2nd.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. PharVision Advisers LLC lifted its holdings in Abacus Life by 20.5% in the third quarter. PharVision Advisers LLC now owns 26,083 shares of the company’s stock valued at $149,000 after buying an additional 4,446 shares during the period. Alyeska Investment Group L.P. raised its position in shares of Abacus Life by 9.2% during the 3rd quarter. Alyeska Investment Group L.P. now owns 2,653,061 shares of the company’s stock valued at $15,202,000 after acquiring an additional 223,683 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Abacus Life in the 3rd quarter valued at $107,000. CSM Advisors LLC lifted its stake in shares of Abacus Life by 17.6% in the 3rd quarter. CSM Advisors LLC now owns 946,427 shares of the company’s stock valued at $5,424,000 after purchasing an additional 141,737 shares during the period. Finally, Centiva Capital LP boosted its position in shares of Abacus Life by 40.6% in the 3rd quarter. Centiva Capital LP now owns 59,977 shares of the company’s stock worth $344,000 after purchasing an additional 17,331 shares during the last quarter.

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.