E-L Financial (TSE:ELF) Share Price Passes Below 50 Day Moving Average – Here’s What Happened

Shares of E-L Financial Co. Limited (TSE:ELF) passed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of C$17.22 and traded as low as C$17.11. E-L Financial shares last traded at C$17.16, with a volume of 30,235 shares traded.

E-L Financial Price Performance

The company has a market cap of C$5.94 billion, a PE ratio of 3.35 and a beta of 1.38. The business has a 50 day moving average of C$17.22 and a 200 day moving average of C$16.90. The company has a debt-to-equity ratio of 8.68, a current ratio of 1.45 and a quick ratio of 2.70.

E-L Financial (TSE:ELF) last issued its quarterly earnings data on Friday, August 7th. The insurance provider reported C$2.85 earnings per share (EPS) for the quarter. E-L Financial had a net margin of 46.65% and a return on equity of 19.97%. The business had revenue of C$2.53 billion for the quarter. As a group, research analysts predict that E-L Financial Co. Limited will post 0.25 EPS for the current year.

E-L Financial Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 17th. Investors of record on Friday, July 17th were given a dividend of $0.04 per share. The ex-dividend date was Tuesday, June 30th. This represents a $0.16 annualized dividend and a dividend yield of 0.9%. E-L Financial’s payout ratio is currently 3.12%.

Insider Transactions at E-L Financial

In related news, insider E-L Financial Corporation Limited acquired 8,000 shares of the stock in a transaction on Thursday, July 23rd. The stock was acquired at an average cost of C$16.82 per share, for a total transaction of C$134,560.00. Following the completion of the acquisition, the insider directly owned 87,500 shares of the company’s stock, valued at approximately C$1,471,750. This represents a 10.06% increase in their position. Insiders have bought 36,900 shares of company stock valued at $623,154 over the last ninety days. 57.79% of the stock is owned by corporate insiders.

About E-L Financial

E-L Financial Corp Ltd operates as an investment and insurance holding company. The firm organizes itself into two segments namely E-L Corporate and Empire Life. The Empire Life operating segment underwrites life and health insurance policies and provides segregated funds, mutual funds, and annuity products whereas, the E-L Corporate segment operations include the oversight of investments in global equities held through holdings of common shares, investment funds, closed-end investment companies, and other private companies.