E-L Financial (TSE:ELF) Stock Price Crosses Below Fifty Day Moving Average – Here’s What Happened

Shares of E-L Financial Co. Limited (TSE:ELF) crossed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of C$16.96 and traded as low as C$16.90. E-L Financial shares last traded at C$16.96, with a volume of 27,929 shares trading hands.

E-L Financial Trading Down 0.2%

The firm has a fifty day moving average of C$16.96 and a 200 day moving average of C$16.90. The firm has a market capitalization of C$5.87 billion, a PE ratio of 5.16 and a beta of 1.37. The company has a debt-to-equity ratio of 6.83, a quick ratio of 2.70 and a current ratio of 1.41.

E-L Financial (TSE:ELF) last released its quarterly earnings results on Thursday, May 14th. The insurance provider reported C$0.09 earnings per share for the quarter. E-L Financial had a return on equity of 13.43% and a net margin of 43.93%.The firm had revenue of C$524.00 million during the quarter. Equities research analysts expect that E-L Financial Co. Limited will post 0.25 EPS for the current year.

E-L Financial Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 17th. Stockholders of record on Friday, July 17th were given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend was Tuesday, June 30th. E-L Financial’s payout ratio is presently 4.86%.

Insider Buying and Selling at E-L Financial

In other news, insider E-L Financial Corporation Limited bought 6,400 shares of the firm’s stock in a transaction dated Wednesday, May 27th. The stock was acquired at an average cost of C$17.11 per share, for a total transaction of C$109,504.00. Following the completion of the purchase, the insider owned 142,600 shares of the company’s stock, valued at C$2,439,886. This trade represents a 4.70% increase in their ownership of the stock. Insiders have acquired 13,300 shares of company stock valued at $226,870 in the last ninety days. 57.79% of the stock is currently 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.