Charles Schwab Investment Management Inc. Buys 93,348 Shares of Abacus Life, Inc. $ABL

Key Points

• Charles Schwab Investment Management Inc. increased its holdings in Abacus Life, Inc. by 152.2% during the 1st quarter, now owning approximately 0.16% of the company, valued at $1,159,000.
• Several institutional investors, including JPMorgan Chase & Co. and Northern Trust Corp., have significantly boosted their positions in Abacus Life in recent months, indicating strong investor interest.
• A number of analysts have rated Abacus Life with a consensus of "Buy" and set an average target price of $13.13, despite Piper Sandler lowering their price objective to $10.00.

Charles Schwab Investment Management Inc. lifted its stake in shares of Abacus Life, Inc. (NASDAQ:ABL - Free Report) by 152.2% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 154,700 shares of the company's stock after acquiring an additional 93,348 shares during the period. Charles Schwab Investment Management Inc. owned 0.16% of Abacus Life worth $1,159,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in the stock. Alyeska Investment Group L.P. boosted its position in Abacus Life by 116.5% during the fourth quarter. Alyeska Investment Group L.P. now owns 2,540,790 shares of the company's stock worth $19,894,000 after purchasing an additional 1,367,210 shares during the period. Royce & Associates LP boosted its position in shares of Abacus Life by 39.6% in the first quarter. Royce & Associates LP now owns 1,824,253 shares of the company's stock valued at $13,664,000 after acquiring an additional 517,822 shares during the period. Foundry Partners LLC boosted its position in shares of Abacus Life by 10.5% in the first quarter. Foundry Partners LLC now owns 756,957 shares of the company's stock valued at $5,670,000 after acquiring an additional 71,957 shares during the period. Zimmer Partners LP boosted its position in shares of Abacus Life by 2.7% in the fourth quarter. Zimmer Partners LP now owns 617,910 shares of the company's stock valued at $4,838,000 after acquiring an additional 16,457 shares during the period. Finally, Bastion Asset Management Inc. bought a new position in shares of Abacus Life in the first quarter valued at approximately $4,353,000.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Piper Sandler lowered their target price on shares of Abacus Life from $12.00 to $10.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 2nd. Wall Street Zen raised shares of Abacus Life from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. One research analyst has rated the stock with a Strong Buy rating and four have assigned a Buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $13.13.

Abacus Life Trading Down 2.4%

Shares of NASDAQ ABL traded down $0.17 during mid-day trading on Wednesday, hitting $6.84. The stock had a trading volume of 552,571 shares, compared to its average volume of 640,459. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.76 and a current ratio of 0.76. Abacus Life, Inc. has a 1 year low of $4.60 and a 1 year high of $10.95. The business has a 50 day moving average price of $5.76 and a two-hundred day moving average price of $6.90. The firm has a market cap of $661.84 million, a P/E ratio of 9.41 and a beta of 0.03.

Abacus Life (NASDAQ:ABL - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.16 by $0.06. Abacus Life had a negative net margin of 0.72% and a positive return on equity of 17.65%. The company had revenue of $56.23 million for the quarter, compared to the consensus estimate of $43.38 million. On average, equities analysts anticipate that Abacus Life, Inc. will post 0.62 EPS for the current fiscal year.

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.