QTR Family Wealth LLC Grows Position in Abacus Life, Inc. $ABL

QTR Family Wealth LLC increased its stake in shares of Abacus Life, Inc. (NASDAQ:ABL) by 87.4% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 607,530 shares of the company’s stock after acquiring an additional 283,406 shares during the quarter. Abacus Life comprises about 1.7% of QTR Family Wealth LLC’s portfolio, making the stock its 14th largest holding. QTR Family Wealth LLC’s holdings in Abacus Life were worth $3,481,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently bought and sold shares of the company. AlphaQuest LLC bought a new position in shares of Abacus Life during the 2nd quarter valued at about $25,000. Darwin Wealth Management LLC bought a new stake in shares of Abacus Life in the second quarter worth about $27,000. CWM LLC purchased a new stake in shares of Abacus Life in the third quarter worth about $38,000. Raymond James Financial Inc. bought a new position in Abacus Life during the second quarter valued at approximately $34,000. Finally, Legal & General Group Plc purchased a new position in Abacus Life during the 2nd quarter valued at approximately $34,000.

Analyst Ratings Changes

ABL has been the topic of several recent research reports. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Abacus Life in a report on Monday, December 29th. Piper Sandler upped their price target on shares of Abacus Life from $9.00 to $11.00 and gave the company an “overweight” rating in a research note on Tuesday, December 23rd. Finally, B. Riley upgraded shares of Abacus Life to a “strong-buy” rating in a research report on Friday, November 7th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $12.50.

Abacus Life Trading Down 0.4%

Shares of ABL opened at $8.47 on Tuesday. The company’s fifty day simple moving average is $7.64 and its 200-day simple moving average is $6.50. The company has a market cap of $827.94 million, a P/E ratio of 105.88 and a beta of -0.06. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.67. Abacus Life, Inc. has a twelve month low of $4.60 and a twelve month high of $9.61.

Abacus Life (NASDAQ:ABL) last issued its quarterly earnings results on Thursday, November 6th. The company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.18 by $0.02. Abacus Life had a net margin of 5.62% and a return on equity of 16.90%. The company had revenue of $62.98 million for the quarter, compared to the consensus estimate of $47.42 million. As a group, analysts expect that Abacus Life, Inc. will post 0.62 EPS for the current year.

Abacus Life Dividend Announcement

The business also recently announced an annual dividend, which was paid on Wednesday, December 17th. Stockholders of record on Tuesday, December 2nd were paid a dividend of $0.20 per share. This represents a dividend yield of 311.0%. The ex-dividend date of this dividend was Tuesday, December 2nd.

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.