Abacus Global Management, Inc. (NYSE:ABX) Shares to 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 given a dividend of $0.22 per share on Wednesday, December 16th. This represents a dividend yield of 251.0%. The ex-dividend date is Tuesday, December 1st.

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

Abacus Global Management stock opened at $8.76 on Friday. The company 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 12-month low of $5.17 and a 12-month high of $12.44. The firm’s fifty day moving average is $8.65 and its 200 day moving average is $9.18. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.67.

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

Abacus Global Management declared that its board has initiated a share buyback program on Friday, August 14th that authorizes the company to buy back $100 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 12.2% of its stock through open market purchases. Share buyback programs are usually a sign that the company’s board believes its shares are undervalued.

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.