Citizens Financial Group Inc. RI Takes Position in Abacus Life, Inc. $ABL

Citizens Financial Group Inc. RI bought a new position in shares of Abacus Life, Inc. (NASDAQ:ABL) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 96,000 shares of the company’s stock, valued at approximately $493,000. Citizens Financial Group Inc. RI owned 0.10% of Abacus Life as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. boosted its position in Abacus Life by 152.2% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 154,700 shares of the company’s stock worth $1,159,000 after purchasing an additional 93,348 shares in the last quarter. Pacific Ridge Capital Partners LLC acquired a new position in shares of Abacus Life in the 1st quarter valued at $358,000. CSM Advisors LLC purchased a new stake in Abacus Life during the second quarter worth $4,138,000. QTR Family Wealth LLC grew its position in Abacus Life by 427.0% during the second quarter. QTR Family Wealth LLC now owns 324,124 shares of the company’s stock valued at $1,666,000 after buying an additional 262,620 shares during the period. Finally, AWM Investment Company Inc. increased its holdings in Abacus Life by 9.2% in the first quarter. AWM Investment Company Inc. now owns 680,536 shares of the company’s stock valued at $5,097,000 after buying an additional 57,524 shares in the last quarter.

Abacus Life Stock Down 1.6%

ABL opened at $6.12 on Wednesday. The company has a market cap of $598.23 million, a PE ratio of 76.50 and a beta of -0.02. Abacus Life, Inc. has a twelve month low of $4.60 and a twelve month high of $9.61. The company has a 50-day moving average price of $5.94 and a 200 day moving average price of $6.25. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.67.

Abacus Life (NASDAQ:ABL) last posted its quarterly earnings data on Thursday, November 6th. The company reported $0.20 EPS for the quarter, topping 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 company had revenue of $62.98 million during the quarter, compared to analyst estimates of $47.42 million. Sell-side analysts expect that Abacus Life, Inc. will post 0.62 earnings per share for the current fiscal year.

Abacus Life Announces Dividend

The company also recently declared an annual dividend, which will be paid on Wednesday, December 17th. Investors of record on Tuesday, December 2nd will be given a dividend of $0.20 per share. This represents a dividend yield of 310.0%. The ex-dividend date is Tuesday, December 2nd.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Piper Sandler lowered their target price on shares of Abacus Life from $10.00 to $9.00 and set an “overweight” rating on the stock in a research note on Thursday, October 9th. Wall Street Zen raised Abacus Life from a “hold” rating to a “buy” rating in a report on Saturday, August 9th. B. Riley raised Abacus Life to a “strong-buy” rating in a report on Friday, November 7th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Abacus Life in a research report on Monday. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $12.67.

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.