Hallmark Financial Services (NASDAQ:HALL) was downgraded by stock analysts at ValuEngine from a “hold” rating to a “sell” rating in a report issued on Saturday, March 17th.
HALL has been the subject of several other reports. Zacks Investment Research downgraded shares of Hallmark Financial Services from a “hold” rating to a “sell” rating in a research note on Wednesday, January 10th. Boenning Scattergood initiated coverage on shares of Hallmark Financial Services in a research note on Tuesday, January 9th. They set a “neutral” rating for the company.
Shares of NASDAQ:HALL traded down $0.10 during midday trading on Friday, hitting $9.01. 32,020 shares of the stock traded hands, compared to its average volume of 48,605. The company has a market cap of $163.70, a price-to-earnings ratio of -24.35 and a beta of 0.90. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 0.34. Hallmark Financial Services has a one year low of $8.62 and a one year high of $11.83.
In related news, CEO Naveen Anand purchased 10,600 shares of Hallmark Financial Services stock in a transaction that occurred on Wednesday, March 14th. The shares were bought at an average price of $9.34 per share, for a total transaction of $99,004.00. Following the completion of the transaction, the chief executive officer now directly owns 70,900 shares of the company’s stock, valued at $662,206. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 28.70% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Stone Ridge Asset Management LLC purchased a new position in shares of Hallmark Financial Services during the fourth quarter valued at about $305,000. Deutsche Bank AG grew its holdings in Hallmark Financial Services by 12.2% in the fourth quarter. Deutsche Bank AG now owns 55,876 shares of the insurance provider’s stock worth $581,000 after purchasing an additional 6,080 shares during the period. Martingale Asset Management L P grew its holdings in Hallmark Financial Services by 32.7% in the fourth quarter. Martingale Asset Management L P now owns 60,504 shares of the insurance provider’s stock worth $632,000 after purchasing an additional 14,911 shares during the period. Chartwell Investment Partners LLC grew its holdings in Hallmark Financial Services by 29.8% in the fourth quarter. Chartwell Investment Partners LLC now owns 504,596 shares of the insurance provider’s stock worth $5,263,000 after purchasing an additional 115,776 shares during the period. Finally, Wells Fargo & Company MN grew its holdings in Hallmark Financial Services by 40.6% in the fourth quarter. Wells Fargo & Company MN now owns 19,572 shares of the insurance provider’s stock worth $205,000 after purchasing an additional 5,651 shares during the period. Institutional investors own 65.84% of the company’s stock.
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About Hallmark Financial Services
Hallmark Financial Services, Inc, through its subsidiaries, underwrites, markets, distributes, and services property/casualty insurance products to businesses and individuals in the United States. The company operates in the Specialty Commercial, Standard Commercial, and Personal segments. The Specialty Commercial segment markets, underwrites, finances, and services commercial lines of insurance products, including commercial automobile, general liability, commercial property, commercial excess liability, and commercial umbrella insurance products.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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