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

E-L Financial Co. Limited (TSE:ELF)’s stock price crossed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of C$17.08 and traded as high as C$17.94. E-L Financial shares last traded at C$17.55, with a volume of 26,529 shares traded.

E-L Financial Stock Up 0.8%

The stock has a market capitalization of C$6.07 billion, a price-to-earnings ratio of 3.43 and a beta of 1.37. The firm’s 50 day simple moving average is C$17.08 and its 200-day simple moving average is C$16.88. 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 posted its quarterly earnings results on Friday, August 7th. The insurance provider reported C$2.85 EPS for the quarter. E-L Financial had a return on equity of 19.94% and a net margin of 46.58%.The business had revenue of C$2.53 billion during the quarter. Equities analysts expect that E-L Financial Co. Limited will post 0.25 earnings per share for the current fiscal year.

E-L Financial Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 17th. Shareholders of record on Friday, July 17th were issued a $0.04 dividend. 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 dividend payout ratio is currently 3.12%.

Insider Activity

In other news, insider E-L Financial Corporation Limited bought 7,400 shares of the firm’s stock in a transaction dated Friday, July 31st. The shares were bought at an average price of C$16.85 per share, with a total value of C$124,690.00. Following the completion of the transaction, the insider owned 7,400 shares of the company’s stock, valued at C$124,690. This trade represents a ∞ increase in their ownership of the stock. Insiders purchased a total of 50,200 shares of company stock worth $850,024 in the last three months. Insiders own 57.79% of the company’s stock.

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.