Hillsdale Investment Management Inc. acquired a new stake in Hallmark Financial Services, Inc. (NASDAQ:HALL) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 7,200 shares of the insurance provider’s stock, valued at approximately $102,000.

Several other large investors also recently bought and sold shares of the company. Cove Street Capital LLC lifted its stake in shares of Hallmark Financial Services by 1.4% during the 1st quarter. Cove Street Capital LLC now owns 1,685,981 shares of the insurance provider’s stock worth $17,534,000 after acquiring an additional 23,373 shares during the last quarter. BlackRock Inc. lifted its stake in shares of Hallmark Financial Services by 2.4% during the 4th quarter. BlackRock Inc. now owns 825,859 shares of the insurance provider’s stock worth $8,828,000 after acquiring an additional 19,327 shares during the last quarter. Bank of Montreal Can lifted its stake in shares of Hallmark Financial Services by 1.0% during the 1st quarter. Bank of Montreal Can now owns 603,761 shares of the insurance provider’s stock worth $6,280,000 after acquiring an additional 5,854 shares during the last quarter. Teton Advisors Inc. lifted its stake in shares of Hallmark Financial Services by 2.8% during the 1st quarter. Teton Advisors Inc. now owns 188,930 shares of the insurance provider’s stock worth $1,965,000 after acquiring an additional 5,070 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of Hallmark Financial Services by 5.5% during the 4th quarter. Geode Capital Management LLC now owns 116,798 shares of the insurance provider’s stock worth $1,248,000 after acquiring an additional 6,041 shares during the last quarter. 60.88% of the stock is owned by institutional investors and hedge funds.

A number of brokerages recently issued reports on HALL. Boenning Scattergood raised Hallmark Financial Services from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $13.00 to $14.00 in a research note on Thursday, May 9th. Raymond James raised their price target on Hallmark Financial Services from $15.00 to $18.00 and gave the stock an “outperform” rating in a research note on Monday, August 12th. BidaskClub raised Hallmark Financial Services from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, July 30th. ValuEngine lowered Hallmark Financial Services from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, Zacks Investment Research upgraded Hallmark Financial Services from a “hold” rating to a “strong-buy” rating and set a $18.00 price objective on the stock in a report on Wednesday, August 14th. One research analyst has rated the stock with a hold rating, two have issued a buy rating and two have issued a strong buy rating to the stock. Hallmark Financial Services currently has a consensus rating of “Buy” and a consensus price target of $16.67.

In other news, CEO Naveen Anand acquired 6,500 shares of Hallmark Financial Services stock in a transaction on Wednesday, August 14th. The shares were bought at an average cost of $16.38 per share, for a total transaction of $106,470.00. Following the acquisition, the chief executive officer now directly owns 77,400 shares of the company’s stock, valued at approximately $1,267,812. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 28.60% of the company’s stock.

HALL traded down $0.27 during trading on Wednesday, hitting $16.96. 12,176 shares of the stock were exchanged, compared to its average volume of 97,991. The firm has a 50 day simple moving average of $15.19 and a 200 day simple moving average of $12.28. The firm has a market cap of $311.72 million, a price-to-earnings ratio of 16.80 and a beta of 0.63. Hallmark Financial Services, Inc. has a 1 year low of $9.48 and a 1 year high of $18.10. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.51 and a current ratio of 0.51.

Hallmark Financial Services Company Profile

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.

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Institutional Ownership by Quarter for Hallmark Financial Services (NASDAQ:HALL)

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