Hallmark Financial Services, Inc. (HALL) Upgraded to “Hold” by Zacks Investment Research

Zacks Investment Research upgraded shares of Hallmark Financial Services, Inc. (NASDAQ:HALL) from a strong sell rating to a hold rating in a research report sent to investors on Wednesday.

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. “

Hallmark Financial Services (NASDAQ:HALL) opened at 11.07 on Wednesday. The firm’s 50-day moving average is $11.09 and its 200-day moving average is $10.91. Hallmark Financial Services has a 52 week low of $9.50 and a 52 week high of $12.09. The stock has a market capitalization of $206.08 million, a P/E ratio of 32.56 and a beta of 0.92.

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Institutional investors have recently bought and sold shares of the company. Bank of Montreal Can boosted its position in Hallmark Financial Services by 16.8% in the third quarter. Bank of Montreal Can now owns 695,681 shares of the company’s stock worth $7,159,000 after buying an additional 99,834 shares during the period. Russell Investments Group Ltd. bought a new position in Hallmark Financial Services during the fourth quarter worth $4,849,000. Franklin Resources Inc. boosted its position in Hallmark Financial Services by 17.8% in the fourth quarter. Franklin Resources Inc. now owns 162,600 shares of the company’s stock worth $1,891,000 after buying an additional 24,600 shares during the period. Hodges Capital Management Inc. boosted its position in Hallmark Financial Services by 9.8% in the fourth quarter. Hodges Capital Management Inc. now owns 175,200 shares of the company’s stock worth $2,038,000 after buying an additional 15,700 shares during the period. Finally, Los Angeles Capital Management & Equity Research Inc. boosted its position in Hallmark Financial Services by 27.7% in the third quarter. Los Angeles Capital Management & Equity Research Inc. now owns 18,410 shares of the company’s stock worth $189,000 after buying an additional 3,990 shares during the period. 64.67% of the stock is currently owned by institutional investors and hedge funds.

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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