Hallmark Financial Services, Inc. (NASDAQ:HALL) Raised to Hold at Zacks Investment Research
Hallmark Financial Services, Inc. (NASDAQ:HALL) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Monday.
According to Zacks, “HALLMARK FINANCIAL and its wholly owned subsidiaries engage in the sale of property and casualty insurance products. Their business primarily involves marketing, underwriting and premium financing of non-standard automobile insurance, as well as claims adjusting and other insurance related services. “
Separately, TheStreet cut Hallmark Financial Services from a “b” rating to a “c” rating in a report on Wednesday, April 5th.
Shares of Hallmark Financial Services (NASDAQ:HALL) traded down 0.36% during mid-day trading on Monday, reaching $11.20. The company’s stock had a trading volume of 11,671 shares. Hallmark Financial Services has a 1-year low of $9.71 and a 1-year high of $12.09. The company’s 50-day moving average is $10.80 and its 200 day moving average is $10.97. The firm has a market capitalization of $206.65 million, a P/E ratio of 33.23 and a beta of 0.82.
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Institutional investors have recently added to or reduced their stakes in the company. State Street Corp boosted its position in Hallmark Financial Services by 4.4% in the fourth quarter. State Street Corp now owns 209,341 shares of the insurance provider’s stock worth $2,435,000 after buying an additional 8,854 shares during the period. Dimensional Fund Advisors LP raised its position in Hallmark Financial Services by 1.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,537,274 shares of the insurance provider’s stock valued at $17,878,000 after buying an additional 15,691 shares during the last quarter. Renaissance Technologies LLC raised its position in Hallmark Financial Services by 18.5% in the fourth quarter. Renaissance Technologies LLC now owns 202,600 shares of the insurance provider’s stock valued at $2,356,000 after buying an additional 31,700 shares during the last quarter. Franklin Resources Inc. raised its position in Hallmark Financial Services by 17.8% in the fourth quarter. Franklin Resources Inc. now owns 162,600 shares of the insurance provider’s stock valued at $1,891,000 after buying an additional 24,600 shares during the last quarter. Finally, Teachers Advisors LLC raised its position in Hallmark Financial Services by 6.7% in the fourth quarter. Teachers Advisors LLC now owns 38,509 shares of the insurance provider’s stock valued at $448,000 after buying an additional 2,414 shares during the last quarter. 64.16% of the stock is owned by institutional investors.
About Hallmark Financial Services
Hallmark Financial Services, Inc is an insurance holding company. The Company markets, distributes, underwrites and services its property/casualty insurance products to businesses and individuals. Its business involves marketing, distributing, underwriting and servicing insurance products, as well as providing other insurance related services.
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