E-L Financial (TSE:ELF) Stock Passes Below 200 Day Moving Average – Here’s What Happened

E-L Financial Co. Limited (TSE:ELF)’s stock price passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$16.85 and traded as low as C$16.80. E-L Financial shares last traded at C$17.09, with a volume of 76,285 shares traded.

E-L Financial Stock Performance

The company has a market capitalization of C$5.92 billion, a P/E ratio of 5.19 and a beta of 1.37. The company has a debt-to-equity ratio of 6.83, a current ratio of 1.41 and a quick ratio of 2.70. The stock’s 50 day simple moving average is C$17.01 and its two-hundred day simple moving average is C$16.85.

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

E-L Financial Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 17th. Shareholders of record on Friday, July 17th will be given a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Tuesday, June 30th. E-L Financial’s dividend payout ratio (DPR) is presently 4.86%.

Insider Buying and Selling

In other news, insider E-L Financial Corporation Limited bought 6,400 shares of the stock in a transaction dated Wednesday, May 27th. The stock was bought at an average cost of C$17.11 per share, with a total value of C$109,504.00. Following the purchase, the insider owned 142,600 shares of the company’s stock, valued at approximately C$2,439,886. This represents a 4.70% increase in their ownership of the stock. In the last 90 days, insiders acquired 13,300 shares of company stock valued at $226,870. 57.79% of the stock is currently owned by company 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.