Abacus Life (NASDAQ:ABL) Price Target Raised to $17.00

Abacus Life (NASDAQ:ABL) had its price objective raised by B. Riley from $16.00 to $17.00 in a research note released on Monday morning,Benzinga reports. B. Riley currently has a buy rating on the stock. B. Riley also issued estimates for Abacus Life’s Q4 2024 earnings at $0.18 EPS, FY2024 earnings at $0.66 EPS, Q1 2025 earnings at $0.25 EPS, Q2 2025 earnings at $0.26 EPS, Q3 2025 earnings at $0.27 EPS, Q4 2025 earnings at $0.27 EPS, FY2025 earnings at $1.05 EPS, Q1 2026 earnings at $0.36 EPS, Q2 2026 earnings at $0.38 EPS, Q3 2026 earnings at $0.40 EPS and FY2026 earnings at $1.56 EPS.

ABL has been the topic of a number of other reports. TD Cowen assumed coverage on shares of Abacus Life in a research report on Wednesday, August 7th. They set a “buy” rating and a $14.00 price objective on the stock. Northland Capmk raised shares of Abacus Life to a “strong-buy” rating in a research note on Thursday, October 24th. Piper Sandler restated an “overweight” rating and issued a $13.00 price objective (up from $12.00) on shares of Abacus Life in a report on Friday, November 8th. B. Riley Financial reiterated a “buy” rating and set a $16.00 target price on shares of Abacus Life in a report on Friday, August 30th. Finally, Northland Securities started coverage on Abacus Life in a research note on Thursday, October 24th. They issued an “outperform” rating and a $13.50 target price for the company. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $14.70.

Abacus Life Stock Performance

Abacus Life stock opened at $8.08 on Monday. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.65. The firm has a market cap of $603.17 million, a P/E ratio of -44.89 and a beta of 0.15. Abacus Life has a 1-year low of $6.56 and a 1-year high of $13.25. The firm has a 50-day moving average of $9.17 and a 200-day moving average of $9.74.

Abacus Life (NASDAQ:ABL) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.20 earnings per share for the quarter, topping the consensus estimate 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 quarter last year, the business posted $0.01 EPS. Sell-side analysts expect that Abacus Life will post 0.64 EPS for the current year.

Insider Transactions at Abacus Life

In other news, Director Adam Samuel Gusky acquired 18,241 shares of Abacus Life stock in a transaction on Friday, November 22nd. The stock was acquired at an average cost of $7.54 per share, for a total transaction of $137,537.14. Following the purchase, the director now owns 40,959 shares in the company, valued at $308,830.86. This trade represents a 80.29 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jay J. Jackson sold 2,031,250 shares of the stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $8.00, for a total transaction of $16,250,000.00. Following the sale, the chief executive officer now owns 10,562,000 shares in the company, valued at approximately $84,496,000. The trade was a 16.13 % decrease in their position. The disclosure for this sale can be found here. Insiders own 79.20% of the company’s stock.

Institutional Investors Weigh In On Abacus Life

A number of large investors have recently added to or reduced their stakes in ABL. Allspring Global Investments Holdings LLC bought a new position in shares of Abacus Life during the 2nd quarter valued at $9,909,000. Principal Financial Group Inc. increased its position in Abacus Life by 7.9% during the third quarter. Principal Financial Group Inc. now owns 1,011,143 shares of the company’s stock valued at $10,233,000 after acquiring an additional 74,172 shares during the last quarter. Point72 Asset Management L.P. bought a new position in Abacus Life in the second quarter valued at about $5,190,000. Curi RMB Capital LLC boosted its position in Abacus Life by 2.4% in the third quarter. Curi RMB Capital LLC now owns 550,000 shares of the company’s stock worth $5,566,000 after purchasing an additional 12,765 shares during the last quarter. Finally, Mendon Capital Advisors Corp bought a new stake in shares of Abacus Life during the 2nd quarter valued at about $4,974,000.

Abacus Life Company 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.