Citizens Financial Group Inc. RI Invests $889,000 in Abacus Global Management, Inc. $ABX

Citizens Financial Group Inc. RI acquired a new position in Abacus Global Management, Inc. (NYSE:ABX) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 104,000 shares of the company’s stock, valued at approximately $889,000.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Piper Sandler reduced their price objective on shares of Abacus Global Management from $11.00 to $9.50 and set a “neutral” rating for the company in a research note on Tuesday, April 7th. Wall Street Zen cut shares of Abacus Global Management from a “buy” rating to a “hold” rating in a research note on Saturday. Weiss Ratings initiated coverage on shares of Abacus Global Management in a research note on Thursday, January 29th. They issued a “hold (c-)” rating for the company. Finally, Zacks Research cut shares of Abacus Global Management from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, January 28th. Three investment analysts have rated the stock with a Hold rating, According to MarketBeat, Abacus Global Management has a consensus rating of “Hold” and a consensus price target of $9.50.

Abacus Global Management Price Performance

NYSE:ABX opened at $9.38 on Monday. The firm has a market cap of $905.64 million, a PE ratio of 25.35 and a beta of 0.11. Abacus Global Management, Inc. has a one year low of $4.60 and a one year high of $10.53. The firm’s fifty day moving average is $9.05. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.69.

Abacus Global Management (NYSE:ABX) last released its earnings results on Thursday, March 12th. The company reported $0.23 EPS for the quarter, beating the consensus estimate of $0.20 by $0.03. The firm had revenue of $71.90 million during the quarter. Abacus Global Management had a net margin of 15.53% and a return on equity of 19.20%. As a group, equities research analysts anticipate that Abacus Global Management, Inc. will post 0.98 EPS for the current year.

About Abacus Global Management

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.