Evernest Financial Advisors LLC Has $863,000 Holdings in Abacus Life, Inc. (NASDAQ:ABL)

Evernest Financial Advisors LLC lifted its position in shares of Abacus Life, Inc. (NASDAQ:ABL) by 63.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 110,250 shares of the company’s stock after acquiring an additional 42,950 shares during the period. Evernest Financial Advisors LLC owned approximately 0.13% of Abacus Life worth $863,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Principal Financial Group Inc. increased its position in Abacus Life by 7.9% during the 3rd quarter. Principal Financial Group Inc. now owns 1,011,143 shares of the company’s stock worth $10,233,000 after purchasing an additional 74,172 shares in the last quarter. Curi RMB Capital LLC increased its holdings in shares of Abacus Life by 2.4% during the third quarter. Curi RMB Capital LLC now owns 550,000 shares of the company’s stock worth $5,566,000 after buying an additional 12,765 shares in the last quarter. Clearbridge Investments LLC bought a new position in shares of Abacus Life in the 2nd quarter valued at $4,342,000. Franklin Resources Inc. boosted its holdings in shares of Abacus Life by 3.6% during the 3rd quarter. Franklin Resources Inc. now owns 437,733 shares of the company’s stock valued at $4,382,000 after acquiring an additional 15,308 shares in the last quarter. Finally, Royce & Associates LP grew its position in Abacus Life by 35.0% during the 3rd quarter. Royce & Associates LP now owns 297,000 shares of the company’s stock worth $3,006,000 after acquiring an additional 77,000 shares during the last quarter.

Abacus Life Price Performance

Shares of ABL stock opened at $7.89 on Friday. Abacus Life, Inc. has a fifty-two week low of $6.75 and a fifty-two week high of $13.25. 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 stock has a 50 day simple moving average of $7.72 and a two-hundred day simple moving average of $8.97.

Abacus Life (NASDAQ:ABL) last issued its earnings results on Thursday, November 7th. The company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.06. Abacus Life had a negative net margin of 11.65% and a positive return on equity of 12.88%. The business had revenue of $28.15 million for the quarter, compared to analyst estimates of $26.08 million. During the same period in the prior year, the firm earned $0.01 earnings per share. As a group, analysts forecast that Abacus Life, Inc. will post 0.62 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Matthew Ganovsky sold 156,250 shares of the stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $8.00, for a total value of $1,250,000.00. Following the completion of the sale, the insider now directly owns 10,847,047 shares of the company’s stock, valued at $86,776,376. This represents a 1.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Sean Mcnealy sold 75,800 shares of the firm’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $8.00, for a total value of $606,400.00. Following the transaction, the insider now owns 12,361,500 shares in the company, valued at approximately $98,892,000. This trade represents a 0.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have bought 36,367 shares of company stock valued at $279,626 and have sold 2,263,300 shares valued at $18,106,400. 79.20% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on ABL. 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 decreased their price target on Abacus Life from $17.00 to $15.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. Northland Capmk upgraded Abacus Life to a “strong-buy” rating in a research report on Thursday, October 24th. Finally, Northland Securities began coverage on Abacus Life in a report on Thursday, October 24th. They issued an “outperform” rating and a $13.50 target price on the stock. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $14.30.

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.