E-L Financial (TSE:ELF) Share Price Passes Below 50 Day Moving Average - What's Next?

Key Points

• Share price fell below its 50-day moving average: E-L Financial dipped under the 50-day MA of C$17.11, trading as low as C$15.72 and last at C$15.81 on volume of 51,125 shares.
• Big dividend increase announced: the company declared a quarterly dividend of $1.05 (annualized $4.20) implying a 26.6% yield, with an ex-dividend date of March 3 and payment/record dates on March 13; the previous quarterly dividend was $0.04.
• Valuation and business profile: E-L Financial has a market cap of C$5.47 billion, a P/E of 4.37 and beta of 1.32, and operates as an investment and insurance holding company through its E-L Corporate and Empire Life segments.

Shares of E-L Financial Co. Limited (TSE:ELF - ) crossed below its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of C$17.11 and traded as low as C$15.72. E-L Financial shares last traded at C$15.81, with a volume of 51,125 shares trading hands.

E-L Financial Price Performance

The business has a 50-day moving average of C$17.11 and a 200-day moving average of C$16.64. The company has a market capitalization of C$5.47 billion, a P/E ratio of 4.37 and a beta of 1.32.

E-L Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Friday, March 13th will be issued a dividend of $1.05 per share. This represents a $4.20 dividend on an annualized basis and a yield of 26.6%. The ex-dividend date is Tuesday, March 3rd. This is a positive change from E-L Financial's previous quarterly dividend of $0.04. E-L Financial's dividend payout ratio (DPR) is 4.28%.

E-L Financial Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.