Abacus Life, Inc. (NASDAQ:ABL) to Issue Annual Dividend of $0.20

Abacus Life, Inc. (NASDAQ:ABL) announced an annual dividend on Thursday, November 6th. Shareholders of record on Tuesday, December 2nd will be given a dividend of 0.20 per share on Wednesday, December 17th. This represents a dividend yield of 310.0%. The ex-dividend date is Tuesday, December 2nd.

Abacus Life Price Performance

Shares of ABL opened at $6.64 on Friday. The business has a 50-day moving average of $5.89 and a 200-day moving average of $6.14. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.93 and a quick ratio of 0.93. The company has a market capitalization of $648.57 million, a price-to-earnings ratio of 82.94 and a beta of -0.02. Abacus Life has a 1 year low of $4.60 and a 1 year high of $9.61.

Abacus Life (NASDAQ:ABL) last announced its 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 return on equity of 16.90% and a net margin of 5.62%.The business had revenue of $62.98 million for the quarter, compared to analysts’ expectations of $47.42 million. As a group, equities research analysts anticipate that Abacus Life will post 0.62 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on ABL shares. B. Riley upgraded shares of Abacus Life to a “strong-buy” rating in a research report on Friday, November 7th. Piper Sandler decreased their price target on Abacus Life from $10.00 to $9.00 and set an “overweight” rating for the company in a report on Thursday, October 9th. Wall Street Zen raised Abacus Life from a “hold” rating to a “buy” rating in a research report on Saturday, August 9th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Abacus Life in a research report on Monday, November 24th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $12.67.

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.