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

Abacus Global Management, Inc. (NYSE:ABX) declared an annual dividend on Thursday, November 5th. Shareholders 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 of this dividend is Tuesday, December 1st.

Abacus Global Management has a dividend payout ratio of 47.5% indicating that its dividend is sufficiently covered by earnings. Equities 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 Down 3.2%

ABX stock opened at $8.76 on Friday. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.67. The firm has a market capitalization of $856.64 million, a PE ratio of 31.29 and a beta of 0.08. Abacus Global Management has a twelve month low of $5.17 and a twelve month high of $12.44. The stock has a 50-day simple moving average of $8.65 and a two-hundred day simple moving average of $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 the consensus estimate 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 firm had revenue of $76.88 million for the quarter. During the same quarter in the prior year, the company earned $0.07 earnings per share. On average, equities analysts predict that Abacus Global Management will post 1.05 EPS for the current fiscal year.

Insider Buying and Selling at Abacus Global Management

In related news, major shareholder Matthew Ganovsky sold 22,800 shares of the company’s stock in a transaction that occurred on Wednesday, September 23rd. The shares were sold at an average price of $7.74, for a total value of $176,472.00. Following the transaction, the insider directly owned 8,651,148 shares in the company, valued at approximately $66,959,885.52. This represents a 0.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Sean Mcnealy sold 22,700 shares of the company’s stock in a transaction that occurred on Wednesday, September 23rd. The stock was sold at an average price of $7.74, for a total transaction of $175,698.00. Following the completion of the transaction, the insider owned 12,506,952 shares in the company, valued at approximately $96,803,808.48. This trade represents a 0.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 633,011 shares of company stock valued at $5,406,352 in the last 90 days. Corporate insiders own 46.40% of the company’s stock.

Hedge Funds Weigh In On Abacus Global Management

A number of hedge funds and other institutional investors have recently bought and sold shares of ABX. Allspring Global Investments Holdings LLC increased its holdings in shares of Abacus Global Management by 3.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,141,322 shares of the company’s stock worth $9,005,000 after buying an additional 34,616 shares during the last quarter. Ashford Capital Management Inc. purchased a new stake in shares of Abacus Global Management during the 1st quarter valued at $6,815,000. Grandeur Peak Global Advisors LLC raised its position in shares of Abacus Global Management by 31.6% during the 2nd quarter. Grandeur Peak Global Advisors LLC now owns 205,787 shares of the company’s stock valued at $2,204,000 after buying an additional 49,447 shares in the last quarter. Sei Investments Co. lifted its holdings in shares of Abacus Global Management by 39.6% during the 1st quarter. Sei Investments Co. now owns 204,620 shares of the company’s stock worth $1,612,000 after acquiring an additional 57,993 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Abacus Global Management by 5.1% during the 1st quarter. Bank of New York Mellon Corp now owns 152,101 shares of the company’s stock worth $1,199,000 after acquiring an additional 7,444 shares during the last quarter.

Abacus Global Management Company Profile

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.