Hallmark Financial Services (NASDAQ:HALL) Coverage Initiated at StockNews.com

Analysts at StockNews.com initiated coverage on shares of Hallmark Financial Services (NASDAQ:HALLGet Rating) in a research report issued on Sunday. The firm set a “hold” rating on the insurance provider’s stock.

Hallmark Financial Services Price Performance

Shares of NASDAQ HALL opened at $2.58 on Friday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.70 and a current ratio of 0.70. Hallmark Financial Services has a fifty-two week low of $2.31 and a fifty-two week high of $5.46. The firm has a market capitalization of $46.93 million, a PE ratio of -16.13 and a beta of 1.27. The stock’s 50-day simple moving average is $2.58 and its 200-day simple moving average is $3.41.

Hallmark Financial Services (NASDAQ:HALLGet Rating) last released its quarterly earnings results on Thursday, May 12th. The insurance provider reported ($0.18) EPS for the quarter, missing the consensus estimate of $0.10 by ($0.28). The firm had revenue of $84.64 million for the quarter, compared to analyst estimates of $97.47 million. Hallmark Financial Services had a negative return on equity of 3.62% and a negative net margin of 0.74%. As a group, equities research analysts forecast that Hallmark Financial Services will post -0.55 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC increased its position in Hallmark Financial Services by 20.5% during the first quarter. Renaissance Technologies LLC now owns 123,613 shares of the insurance provider’s stock worth $449,000 after buying an additional 21,023 shares during the period. Assenagon Asset Management S.A. acquired a new position in Hallmark Financial Services during the fourth quarter worth approximately $115,000. Virtu Financial LLC acquired a new position in shares of Hallmark Financial Services in the first quarter valued at approximately $95,000. Point72 Asset Management L.P. acquired a new position in shares of Hallmark Financial Services in the fourth quarter valued at approximately $77,000. Finally, Acadian Asset Management LLC acquired a new position in shares of Hallmark Financial Services in the first quarter valued at approximately $48,000. Institutional investors and hedge funds own 19.12% of the company’s stock.

Hallmark Financial Services Company Profile

(Get Rating)

Hallmark Financial Services, Inc underwrites, markets, distributes, and services property/casualty insurance products to businesses and individuals in the United States. The company operates through Specialty Commercial, Standard Commercial, and Personal segments. The Specialty Commercial segment offers primary and excess commercial vehicle insurance products and services; primary and excess liability, excess public entity liability, and E&S package and garage liability insurance products and services; primary and excess commercial property insurance for catastrophe and non-catastrophe exposures; healthcare and financial lines professional liability insurance products and services primarily for businesses, medical professionals, medical facilities, and senior care facilities; and satellite launch property/casualty insurance products and services, as well as various specialty programs.

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