Crawford & Company (NYSE:CRD.B) Issues Quarterly Earnings Results

Crawford & Company (NYSE:CRD.B) announced its quarterly earnings data on Monday. The business services provider reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.07, Zacks reports. The business had revenue of $321.63 million during the quarter, compared to the consensus estimate of $325.39 million. Crawford & Company had a net margin of 2.01% and a return on equity of 29.46%.

Crawford & Company Stock Performance

Shares of NYSE CRD.B traded up $0.23 during trading hours on Wednesday, hitting $11.20. 5,683 shares of the company’s stock were exchanged, compared to its average volume of 15,790. The company’s 50-day moving average price is $11.93 and its 200-day moving average price is $10.77. Crawford & Company has a 1-year low of $8.78 and a 1-year high of $13.59. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.19 and a quick ratio of 1.19. The stock has a market capitalization of $544.19 million, a price-to-earnings ratio of 20.73 and a beta of 0.69.

Insiders Place Their Bets

In other news, major shareholder Jesse C. Crawford sold 1,000,000 shares of the company’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $12.81, for a total transaction of $12,810,000.00. Following the transaction, the insider directly owned 4,447,188 shares in the company, valued at approximately $56,968,478.28. This represents a 18.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Andrew Bart sold 10,118 shares of Crawford & Company stock in a transaction on Friday, August 14th. The stock was sold at an average price of $13.17, for a total transaction of $133,254.06. Following the sale, the executive vice president directly owned 101,277 shares of the company’s stock, valued at $1,333,818.09. This represents a 9.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 1,020,093 shares of company stock valued at $13,075,773 over the last 90 days. 51.04% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Separately, Zacks Research cut shares of Crawford & Company from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 5th. One equities research analyst has rated the stock with a Hold rating. Based on data from MarketBeat.com, the company has an average rating of “Hold”.

About Crawford & Company

Crawford & Company (NYSE: CRD.B) is a global provider of claims management and related outsourcing services for the insurance industry. The company works with insurers, brokers, corporations and government entities to manage property and casualty claims throughout the claims life cycle.

Its services include loss adjusting, claims administration, catastrophe response, third-party claims management, workers’ compensation services, medical management and related consulting and technology solutions.