Crawford & Co. - Class B (CRD.B) Declares $0.06 Dividend
Crawford & Co. - Class B said on May 12, 2023 that its board of directors declared a regular quarterly dividend of $0.06 per share ($0.24 annualized). Previously, the company paid $0.06 per share.
Shares must be purchased before the ex-div date of May 25, 2023 to qualify for the dividend. Shareholders of record as of May 26, 2023 will receive the payment on June 9, 2023.
At the current share price of $8.58 / share, the stock's dividend yield is 2.80%.
Looking back five years and taking a sample every week, the average dividend yield has been 2.55%, the lowest has been 1.26%, and the highest has been 4.62%. The standard deviation of yields is 0.81 (n=237).
The current dividend yield is 0.30 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is -0.92. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.20%, demonstrating that it has increased its dividend over time.
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What is the Fund Sentiment?
There are 59 funds or institutions reporting positions in Crawford & Co. - Class B. This is a decrease of 2 owner(s) or 3.28% in the last quarter. Average portfolio weight of all funds dedicated to CRD.B is 0.02%, an increase of 60.77%. Total shares owned by institutions decreased in the last three months by 1.36% to 4,932K shares.
Analyst Price Forecast Suggests 24.75% Upside
As of May 11, 2023, the average one-year price target for Crawford & Co. - Class B is 10.71. The forecasts range from a low of 10.10 to a high of $11.55. The average price target represents an increase of 24.75% from its latest reported closing price of 8.58.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Crawford & Co. - Class B is 1,277MM, an increase of 4.38%. The projected annual non-GAAP EPS is 0.82.
What are Other Shareholders Doing?
Truist Financial holds 1,029K shares representing 2.11% ownership of the company. No change in the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 747K shares representing 1.53% ownership of the company. No change in the last quarter.
Renaissance Technologies holds 687K shares representing 1.41% ownership of the company. In it's prior filing, the firm reported owning 701K shares, representing a decrease of 2.04%. The firm increased its portfolio allocation in CRD.B by 37.32% over the last quarter.
First Wilshire Securities Management holds 268K shares representing 0.55% ownership of the company. In it's prior filing, the firm reported owning 269K shares, representing a decrease of 0.33%. The firm increased its portfolio allocation in CRD.B by 40.46% over the last quarter.
VEXMX - Vanguard Extended Market Index Fund Investor Shares holds 266K shares representing 0.55% ownership of the company. In it's prior filing, the firm reported owning 266K shares, representing an increase of 0.08%. The firm decreased its portfolio allocation in CRD.B by 2.45% over the last quarter.
Crawford Background Information
(This description is provided by the company.)
Based in Atlanta, Crawford & Company is the world's largest publicly listed independent provider of claims management and outsourcing solutions to carriers, brokers and corporations with an expansive global network serving clients in more than 70 countries. The Company's two classes of stock are substantially identical, except with respect to voting rights and the Company's ability to pay greater cash dividends on the non-voting Class A Common Stock (CRD-A) than on the voting Class B Common Stock (CRD-B), subject to certain limitations. In addition, with respect to mergers or similar transactions, holders of CRD-A must receive the same type and amount of consideration as holders of CRD-B, unless different consideration is approved by the holders of 75 percent of CRD-A, voting as a class.
Key filings for this company:
This story originally appeared on Fintel.