Morgan Stanley raised its holdings in Hallmark Financial Services, Inc. (NASDAQ:HALL) by 4.5% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 39,047 shares of the insurance provider’s stock after acquiring an additional 1,696 shares during the period. Morgan Stanley owned approximately 0.22% of Hallmark Financial Services worth $555,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in the business. C M Bidwell & Associates Ltd. bought a new position in shares of Hallmark Financial Services during the 2nd quarter valued at about $84,000. Hillsdale Investment Management Inc. bought a new position in shares of Hallmark Financial Services during the 2nd quarter valued at about $102,000. Prudential Financial Inc. bought a new position in shares of Hallmark Financial Services during the 2nd quarter valued at about $161,000. Bailard Inc. bought a new position in shares of Hallmark Financial Services during the 2nd quarter valued at about $185,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Hallmark Financial Services during the 2nd quarter valued at about $187,000. 65.69% of the stock is currently owned by hedge funds and other institutional investors.
Several brokerages have recently commented on HALL. BidaskClub lowered Hallmark Financial Services from a “strong-buy” rating to a “buy” rating in a research report on Saturday, October 26th. Raymond James increased their price objective on Hallmark Financial Services from $15.00 to $18.00 and gave the company an “outperform” rating in a research report on Monday, August 12th. ValuEngine lowered Hallmark Financial Services from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Finally, Zacks Investment Research upgraded Hallmark Financial Services from a “hold” rating to a “buy” rating and set a $19.00 price objective on the stock in a research report on Thursday, October 31st. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $17.00.
In related news, CEO Naveen Anand acquired 6,500 shares of the stock in a transaction on Wednesday, August 14th. The stock was acquired at an average price of $16.38 per share, for a total transaction of $106,470.00. Following the completion of the purchase, the chief executive officer now owns 77,400 shares of the company’s stock, valued at $1,267,812. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 28.60% of the stock is currently owned by insiders.
Shares of Hallmark Financial Services stock opened at $17.91 on Friday. The business’s 50-day moving average price is $18.45 and its 200-day moving average price is $15.36. The firm has a market capitalization of $302.66 million, a PE ratio of 17.73 and a beta of 0.56. Hallmark Financial Services, Inc. has a 12 month low of $9.48 and a 12 month high of $20.30. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.30.
Hallmark Financial Services (NASDAQ:HALL) last announced its quarterly earnings data on Thursday, November 7th. The insurance provider reported $0.35 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.33 by $0.02. The business had revenue of $117.85 million during the quarter, compared to analysts’ expectations of $117.45 million. Hallmark Financial Services had a return on equity of 8.29% and a net margin of 7.65%. As a group, analysts predict that Hallmark Financial Services, Inc. will post 1.45 earnings per share for the current fiscal year.
Hallmark Financial Services 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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