Abacus Life, Inc. (NASDAQ:ABL) Shares Bought by Franklin Resources Inc.

Franklin Resources Inc. lifted its stake in shares of Abacus Life, Inc. (NASDAQ:ABL) by 32.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 577,768 shares of the company’s stock after purchasing an additional 140,035 shares during the quarter. Franklin Resources Inc. owned about 0.60% of Abacus Life worth $4,524,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in ABL. Geneos Wealth Management Inc. purchased a new position in Abacus Life in the 4th quarter valued at approximately $110,000. JPMorgan Chase & Co. increased its position in shares of Abacus Life by 640.9% in the fourth quarter. JPMorgan Chase & Co. now owns 16,670 shares of the company’s stock valued at $131,000 after buying an additional 14,420 shares in the last quarter. LPL Financial LLC increased its position in shares of Abacus Life by 31.0% in the fourth quarter. LPL Financial LLC now owns 23,288 shares of the company’s stock valued at $182,000 after buying an additional 5,507 shares in the last quarter. Richard W. Paul & Associates LLC raised its stake in shares of Abacus Life by 7.5% during the 4th quarter. Richard W. Paul & Associates LLC now owns 41,836 shares of the company’s stock worth $328,000 after buying an additional 2,934 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. purchased a new stake in shares of Abacus Life in the 3rd quarter worth about $614,000.

Abacus Life Stock Performance

NASDAQ:ABL opened at $7.13 on Friday. 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 firm has a market cap of $690.56 million, a PE ratio of -39.61 and a beta of 0.16. The firm has a 50 day simple moving average of $7.49 and a 200-day simple moving average of $8.07. Abacus Life, Inc. has a 1-year low of $6.34 and a 1-year high of $12.50.

Abacus Life (NASDAQ:ABL) last issued its quarterly earnings results on Thursday, March 27th. The company reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.03. Abacus Life had a positive return on equity of 12.88% and a negative net margin of 11.65%. The company had revenue of $33.21 million during the quarter, compared to the consensus estimate of $28.76 million. On average, equities analysts expect that Abacus Life, Inc. will post 0.62 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. B. Riley cut their target price on shares of Abacus Life from $17.00 to $15.00 and set a “buy” rating for the company in a research report on Tuesday, January 7th. Piper Sandler cut their price objective on Abacus Life from $13.00 to $11.50 and set an “overweight” rating for the company in a research report on Tuesday. 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, the stock presently has an average rating of “Buy” and a consensus price target of $14.00.

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.