E-L Financial (TSE:ELF) Stock Crosses Below 50-Day Moving Average – Here’s Why

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$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 firm has a 50 day moving average of C$17.24 and a 200-day moving average of C$16.91. The company has a market cap of C$6.17 billion, a P/E ratio of 3.48 and a beta of 1.38. The company has a current ratio of 1.45, a quick ratio of 2.70 and a debt-to-equity ratio of 8.68.

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

E-L Financial Cuts Dividend

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

Insider Activity at E-L Financial

In other E-L Financial news, insider E-L Financial Corporation Limited bought 8,000 shares of the company’s stock in a transaction on Thursday, July 23rd. The stock was acquired at an average price of C$16.82 per share, for a total transaction of C$134,560.00. Following the completion of the transaction, 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 ownership of the stock. Over the last three months, insiders have bought 36,900 shares of company stock worth $623,154. 57.79% of the stock is currently owned by 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.