BidaskClub cut shares of Hallmark Financial Services (NASDAQ:HALL) from a hold rating to a sell rating in a research report released on Tuesday, BidAskClub reports.

A number of other equities research analysts have also recently weighed in on the company. ValuEngine cut Hallmark Financial Services from a hold rating to a sell rating in a research note on Friday, January 3rd. Zacks Investment Research cut Hallmark Financial Services from a buy rating to a hold rating in a research note on Thursday, January 9th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company’s stock. Hallmark Financial Services has an average rating of Hold and a consensus price target of $17.67.

Shares of NASDAQ HALL traded down $0.28 during mid-day trading on Tuesday, reaching $17.27. 29,102 shares of the company were exchanged, compared to its average volume of 56,900. The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 0.35. The stock has a market cap of $309.90 million, a price-to-earnings ratio of 11.14 and a beta of 0.52. Hallmark Financial Services has a 1 year low of $9.65 and a 1 year high of $20.30. The firm has a 50-day moving average of $17.84 and a 200 day moving average of $17.88.

A number of institutional investors have recently added to or reduced their stakes in the business. Jacobs Levy Equity Management Inc. raised its stake in Hallmark Financial Services by 77.2% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 164,352 shares of the insurance provider’s stock valued at $2,888,000 after buying an additional 71,615 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Hallmark Financial Services by 24.4% in the fourth quarter. Bank of New York Mellon Corp now owns 89,187 shares of the insurance provider’s stock valued at $1,567,000 after buying an additional 17,466 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in Hallmark Financial Services by 21.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 39,660 shares of the insurance provider’s stock valued at $697,000 after buying an additional 7,023 shares during the last quarter. UBS Group AG raised its stake in Hallmark Financial Services by 75.9% in the fourth quarter. UBS Group AG now owns 17,628 shares of the insurance provider’s stock valued at $310,000 after buying an additional 7,605 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake in Hallmark Financial Services by 17.6% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 35,400 shares of the insurance provider’s stock valued at $622,000 after buying an additional 5,300 shares during the last quarter. Institutional investors own 65.25% of the company’s stock.

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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