Hallmark Financial Services (NASDAQ:HALL) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors 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 restated a “hold” rating on shares of Hallmark Financial Services in a report on Tuesday.
Large investors have recently modified their holdings of the stock. Wells Fargo & Company MN raised its holdings in shares of Hallmark Financial Services by 73.3% during the third quarter. Wells Fargo & Company MN now owns 13,921 shares of the insurance provider’s stock worth $161,000 after acquiring an additional 5,889 shares during the period. Ameriprise Financial Inc. bought a new position in Hallmark Financial Services in the second quarter valued at $190,000. Stone Ridge Asset Management LLC bought a new position in Hallmark Financial Services in the fourth quarter valued at $305,000. Teachers Advisors LLC grew 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 valued at $315,000 after purchasing an additional 1,769 shares in the last quarter. Finally, Deutsche Bank AG grew 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 valued at $581,000 after purchasing an additional 6,080 shares in the last quarter. Institutional investors and hedge funds own 65.88% of the company’s stock.
Hallmark Financial Services Company Profile
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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