Intrepid Capital Management Inc. lessened its position in Hallmark Financial Services, Inc. (NASDAQ:HALL) by 29.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 685,575 shares of the insurance provider’s stock after selling 290,235 shares during the period. Hallmark Financial Services comprises about 3.4% of Intrepid Capital Management Inc.’s portfolio, making the stock its 11th largest holding. Intrepid Capital Management Inc.’s holdings in Hallmark Financial Services were worth $7,130,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. BNP Paribas Arbitrage SA boosted its holdings in shares of Hallmark Financial Services by 547.1% during the 1st quarter. BNP Paribas Arbitrage SA now owns 2,763 shares of the insurance provider’s stock worth $29,000 after buying an additional 2,336 shares during the period. Acadian Asset Management LLC bought a new stake in shares of Hallmark Financial Services during the 4th quarter worth about $45,000. SG Americas Securities LLC acquired a new stake in Hallmark Financial Services in the 1st quarter worth about $109,000. O Shaughnessy Asset Management LLC raised its stake in Hallmark Financial Services by 25.6% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 11,699 shares of the insurance provider’s stock worth $125,000 after purchasing an additional 2,381 shares in the last quarter. Finally, Wells Fargo & Company MN raised its stake in Hallmark Financial Services by 5.4% in the 1st quarter. Wells Fargo & Company MN now owns 21,467 shares of the insurance provider’s stock worth $224,000 after purchasing an additional 1,091 shares in the last quarter. 64.16% of the stock is owned by institutional investors.

Hallmark Financial Services stock traded up $0.01 during midday trading on Friday, hitting $13.19. The company’s stock had a trading volume of 9,347 shares, compared to its average volume of 73,453. Hallmark Financial Services, Inc. has a 1-year low of $9.48 and a 1-year high of $13.42. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $235.60 million, a price-to-earnings ratio of 13.05 and a beta of 0.54.

Hallmark Financial Services (NASDAQ:HALL) last issued its quarterly earnings data on Wednesday, May 8th. The insurance provider reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.11. Hallmark Financial Services had a net margin of 6.12% and a return on equity of 7.42%. The business had revenue of $104.45 million during the quarter, compared to analysts’ expectations of $94.18 million. On average, sell-side analysts anticipate that Hallmark Financial Services, Inc. will post 1.35 earnings per share for the current fiscal year.

HALL has been the subject of several analyst reports. Zacks Investment Research upgraded shares of Hallmark Financial Services from a “hold” rating to a “buy” rating and set a $12.00 price objective for the company in a research note on Thursday, February 21st. Boenning Scattergood reiterated a “hold” rating on shares of Hallmark Financial Services in a research note on Wednesday, March 6th. Finally, TheStreet upgraded shares of Hallmark Financial Services from a “c” rating to a “b” rating in a research note on Wednesday, May 29th. Two investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $13.00.

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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.

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

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