E-L Financial (TSE:ELF) Reaches New 1-Year High – Time to Buy?

E-L Financial Co. Limited (TSE:ELF) reached a new 52-week high during mid-day trading on Wednesday. The company traded as high as C$19.00 and last traded at C$18.89, with a volume of 15,582 shares. The stock had previously closed at C$18.63.

E-L Financial Price Performance

The stock has a market capitalization of C$6.53 billion, a price-to-earnings ratio of 3.69 and a beta of 1.35. The company’s 50-day simple moving average is C$17.64 and its 200-day simple moving average is C$17.15. 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 announced its earnings results on Friday, August 7th. The insurance provider reported C$2.85 earnings per share for the quarter. The company had revenue of C$2.53 billion for the quarter. E-L Financial had a return on equity of 19.97% and a net margin of 46.65%. Research analysts forecast that E-L Financial Co. Limited will post 0.25 earnings per share for the current fiscal year.

E-L Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 16th. Shareholders of record on Friday, October 16th will be paid a $0.04 dividend. The ex-dividend date is Tuesday, September 29th. This represents a $0.16 annualized dividend and a yield of 0.8%. E-L Financial’s payout ratio is 3.12%.

Insider Activity at E-L Financial

In related news, insider E-L Financial Corporation Limited purchased 8,000 shares of the business’s stock in a transaction that occurred 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 purchase, the insider owned 87,500 shares in the company, valued at approximately C$1,471,750. This represents a 10.06% increase in their position. Insiders have purchased 36,900 shares of company stock worth $623,154 over the last quarter. 57.79% of the stock is currently owned by company insiders.

E-L Financial Company Profile

E-L Financial operates as an investment and insurance holding company. In managing its operations, E-L Financial distinguishes between two operating segments, E-L Corporate and Empire Life. E-L Corporate represents investments in stocks and fixed income securities held directly and indirectly through closed-end investment companies and other investment companies. The investment strategy is to accumulate shareholder value through long-term capital appreciation and dividend and interest income from its investments.