Evernest Financial Advisors LLC Makes New $681,000 Investment in Abacus Life, Inc. (NASDAQ:ABL)

Evernest Financial Advisors LLC acquired a new position in shares of Abacus Life, Inc. (NASDAQ:ABL) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 67,300 shares of the company’s stock, valued at approximately $681,000. Evernest Financial Advisors LLC owned approximately 0.11% of Abacus Life at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of ABL. Allspring Global Investments Holdings LLC purchased a new position in shares of Abacus Life during the 2nd quarter valued at about $9,909,000. Principal Financial Group Inc. bought a new position in Abacus Life during the second quarter valued at approximately $8,105,000. Point72 Asset Management L.P. purchased a new position in shares of Abacus Life during the second quarter worth approximately $5,190,000. Mendon Capital Advisors Corp bought a new stake in shares of Abacus Life in the 2nd quarter worth approximately $4,974,000. Finally, Clearbridge Investments LLC purchased a new stake in shares of Abacus Life in the 2nd quarter valued at $4,342,000.

Abacus Life Trading Up 0.5 %

NASDAQ:ABL opened at $9.54 on Tuesday. The company has a 50-day moving average price of $10.07 and a 200-day moving average price of $10.36. The stock has a market cap of $609.84 million, a price-to-earnings ratio of 477.00 and a beta of 0.12. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.59. Abacus Life, Inc. has a 12 month low of $5.75 and a 12 month high of $13.25.

Abacus Life (NASDAQ:ABL) last posted its earnings results on Monday, August 12th. The company reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.05. The firm had revenue of $29.08 million for the quarter, compared to the consensus estimate of $28.57 million. Abacus Life had a positive return on equity of 7.02% and a negative net margin of 6.19%. During the same quarter in the prior year, the business earned $0.13 EPS. Equities analysts predict that Abacus Life, Inc. will post 0.57 EPS for the current year.

Analyst Ratings Changes

Several research firms have issued reports on ABL. TD Cowen began coverage on shares of Abacus Life in a research report on Wednesday, August 7th. They set a “buy” rating and a $14.00 price target for the company. B. Riley reaffirmed a “buy” rating and issued a $16.00 price target (up from $15.00) on shares of Abacus Life in a research note on Thursday, August 29th. B. Riley Financial reissued a “buy” rating and set a $16.00 price objective on shares of Abacus Life in a research note on Friday, August 30th. Finally, Piper Sandler started coverage on shares of Abacus Life in a research note on Wednesday, June 26th. They issued an “overweight” rating and a $12.00 target price on the stock. Four investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $14.50.

Abacus Life 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.