Hallmark Financial Services (HALL) Stock Rating Lowered by Zacks Investment Research
Hallmark Financial Services (NASDAQ:HALL) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released 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. “
Separately, Boenning Scattergood reiterated a “hold” rating on shares of Hallmark Financial Services in a research report on Tuesday.
In other news, CEO Naveen Anand acquired 10,600 shares of Hallmark Financial Services stock in a transaction that occurred on Wednesday, March 14th. The stock was 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 owns 70,900 shares in the company, valued at $662,206. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 28.70% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of the stock. Wells Fargo & Company MN increased its position in Hallmark Financial Services by 73.3% in the third quarter. Wells Fargo & Company MN now owns 13,921 shares of the insurance provider’s stock worth $161,000 after buying an additional 5,889 shares in the last quarter. Ameriprise Financial Inc. purchased a new stake in Hallmark Financial Services in the second quarter worth about $190,000. Teachers Advisors LLC increased its position in Hallmark Financial Services by 6.8% in the second quarter. Teachers Advisors LLC now owns 27,951 shares of the insurance provider’s stock worth $315,000 after buying an additional 1,769 shares in the last quarter. Stone Ridge Asset Management LLC purchased a new stake in Hallmark Financial Services in the fourth quarter worth about $305,000. Finally, Deutsche Bank AG increased its position 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 buying an additional 6,080 shares in the last quarter. Institutional investors own 65.88% of the company’s stock.
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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