StockNews.com Initiates Coverage on Hallmark Financial Services (NASDAQ:HALL)

Equities research analysts at StockNews.com started coverage on shares of Hallmark Financial Services (NASDAQ:HALL – Get Rating) in a research report issued to clients and investors on Wednesday. The firm set a “hold” rating on the insurance provider’s stock.

NASDAQ HALL opened at $2.49 on Wednesday. The stock has a market capitalization of $45.29 million, a P/E ratio of -15.44 and a beta of 1.24. Hallmark Financial Services has a 1 year low of $2.31 and a 1 year high of $5.70. The business’s fifty day moving average is $2.98 and its two-hundred day moving average is $3.70. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.70 and a current ratio of 0.70.

Hallmark Financial Services (NASDAQ:HALL – Get Rating) last posted its quarterly earnings data on Thursday, May 12th. The insurance provider reported ($0.18) earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.28). Hallmark Financial Services had a negative return on equity of 3.62% and a negative net margin of 0.74%. The firm had revenue of $84.64 million for the quarter, compared to analysts’ expectations of $97.47 million. On average, research analysts forecast that Hallmark Financial Services will post -0.55 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. grew its holdings in shares of Hallmark Financial Services by 13.0% during the 3rd quarter. BlackRock Inc. now owns 259,963 shares of the insurance provider’s stock valued at $948,000 after acquiring an additional 29,837 shares in the last quarter. Assenagon Asset Management S.A. purchased a new position in shares of Hallmark Financial Services during the 4th quarter valued at $115,000. Virtu Financial LLC purchased a new position in shares of Hallmark Financial Services during the 1st quarter valued at $95,000. Renaissance Technologies LLC grew its holdings in shares of Hallmark Financial Services by 20.5% during the 1st quarter. Renaissance Technologies LLC now owns 123,613 shares of the insurance provider’s stock valued at $449,000 after acquiring an additional 21,023 shares in the last quarter. Finally, Point72 Asset Management L.P. purchased a new position in shares of Hallmark Financial Services during the 4th quarter valued at $77,000. Hedge funds and other institutional investors own 19.12% of the company’s stock.

About Hallmark Financial Services (Get Rating)

Hallmark Financial Services, Inc underwrites, markets, distributes, and services property/casualty insurance products to businesses and individuals in the United States. The company operates through Specialty Commercial, Standard Commercial, and Personal segments. The Specialty Commercial segment offers primary and excess commercial vehicle insurance products and services; primary and excess liability, excess public entity liability, and E&S package and garage liability insurance products and services; primary and excess commercial property insurance for catastrophe and non-catastrophe exposures; healthcare and financial lines professional liability insurance products and services primarily for businesses, medical professionals, medical facilities, and senior care facilities; and satellite launch property/casualty insurance products and services, as well as various specialty programs.

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