Allspring Global Investments Holdings LLC Sells 78,634 Shares of Abacus Global Management, Inc. $ABX

Allspring Global Investments Holdings LLC lessened its stake in Abacus Global Management, Inc. (NYSE:ABX) by 5.6% in the first quarter, HoldingsChannel reports. The firm owned 1,330,138 shares of the company’s stock after selling 78,634 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Abacus Global Management were worth $10,322,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in ABX. Russell Investments Group Ltd. acquired a new position in Abacus Global Management in the fourth quarter valued at about $30,000. New York State Common Retirement Fund acquired a new position in shares of Abacus Global Management during the 4th quarter worth about $75,000. Police & Firemen s Retirement System of New Jersey acquired a new position in shares of Abacus Global Management during the 4th quarter worth about $83,000. Summit Wealth & Retirement Planning Inc. bought a new stake in shares of Abacus Global Management in the 4th quarter valued at about $86,000. Finally, Intech Investment Management LLC bought a new stake in shares of Abacus Global Management in the 4th quarter valued at about $96,000.

Abacus Global Management Price Performance

Shares of Abacus Global Management stock opened at $10.26 on Thursday. The company has a market capitalization of $983.85 million, a P/E ratio of 26.30 and a beta of 0.06. The company has a quick ratio of 1.91, a current ratio of 1.91 and a debt-to-equity ratio of 0.79. The stock has a 50-day simple moving average of $9.89. Abacus Global Management, Inc. has a 1 year low of $5.00 and a 1 year high of $12.44.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Wall Street Zen lowered shares of Abacus Global Management from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Abacus Global Management in a research note on Thursday, June 11th. Piper Sandler increased their target price on shares of Abacus Global Management from $10.00 to $13.00 and gave the stock a “neutral” rating in a report on Monday, July 13th. Finally, Texas Capital raised shares of Abacus Global Management to a “strong-buy” rating in a research report on Tuesday, June 9th. One analyst has rated the stock with a Strong Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $13.00.

Abacus Global Management 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.