Abacus Global Management, Inc. (NYSE:ABX) Shares Will Pay Annual Dividend of $0.22

Abacus Global Management, Inc. (NYSE:ABX) declared an annual dividend on Thursday, November 5th. Investors of record on Tuesday, December 1st will be paid a dividend of $0.22 per share on Wednesday, December 16th. This represents a yield of 251.0%. The ex-dividend date is Tuesday, December 1st.

Abacus Global Management has a payout ratio of 47.5% meaning its dividend is sufficiently covered by earnings. Research analysts expect Abacus Global Management to earn $1.19 per share next year, which means the company should continue to be able to cover its $0.28 annual dividend with an expected future payout ratio of 23.5%.

Abacus Global Management Stock Up 3.6%

ABX opened at $9.06 on Friday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.70 and a current ratio of 0.70. The company has a market cap of $886.27 million, a price-to-earnings ratio of 32.93 and a beta of 0.08. Abacus Global Management has a one year low of $5.57 and a one year high of $12.44. The business’s fifty day moving average is $8.65 and its two-hundred day moving average is $9.18.

Abacus Global Management (NYSE:ABX) last announced its quarterly earnings results on Thursday, November 5th. The company reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.01. Abacus Global Management had a return on equity of 21.03% and a net margin of 10.55%. The business had revenue of $76.88 million during the quarter. During the same quarter in the prior year, the business earned $0.07 EPS. Analysts anticipate that Abacus Global Management will post 1.05 EPS for the current fiscal year.

Insider Transactions at Abacus Global Management

In other Abacus Global Management news, major shareholder Kevin Kirby sold 36,400 shares of the company’s stock in a transaction dated Monday, September 21st. The shares were sold at an average price of $8.13, for a total value of $295,932.00. Following the transaction, the insider directly owned 12,549,905 shares in the company, valued at approximately $102,030,727.65. This represents a 0.29% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Jay Jackson sold 196,000 shares of the firm’s stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $8.77, for a total transaction of $1,718,920.00. Following the sale, the chief executive officer directly owned 10,397,430 shares in the company, valued at $91,185,461.10. This represents a 1.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 633,011 shares of company stock worth $5,406,352 in the last ninety days. Company insiders own 46.40% of the company’s stock.

Hedge Funds Weigh In On Abacus Global Management

Institutional investors and hedge funds have recently bought and sold shares of the stock. State of Alaska Department of Revenue acquired a new position in shares of Abacus Global Management during the 3rd quarter valued at $31,000. Susquehanna Fundamental Investments LLC purchased a new stake in Abacus Global Management during the 2nd quarter worth $221,000. Hsbc Holdings PLC acquired a new stake in Abacus Global Management in the 2nd quarter valued at $285,000. World Investment Advisors increased its holdings in Abacus Global Management by 89.7% in the 1st quarter. World Investment Advisors now owns 40,137 shares of the company’s stock valued at $316,000 after purchasing an additional 18,975 shares in the last quarter. Finally, Squarepoint Ops LLC increased its holdings in Abacus Global Management by 20.8% in the 2nd quarter. Squarepoint Ops LLC now owns 55,551 shares of the company’s stock valued at $595,000 after purchasing an additional 9,580 shares in the last quarter.

About Abacus Global Management

Abacus Global Management, Inc is an alternative asset management company focused on longevity-linked assets and insurance-related financial products. Through its operating businesses, the company originates, acquires and manages life insurance policies, including life settlements, in which policyholders receive an upfront payment in exchange for transferring policy ownership and future benefits.

The company provides services across the life-settlement and insurance-asset lifecycle, including policy sourcing, underwriting, portfolio management, servicing and institutional asset management.