Brokerages expect Hallmark Financial Services, Inc. (NASDAQ:HALL) to announce sales of $97.08 million for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Hallmark Financial Services’ earnings, with the lowest sales estimate coming in at $96.96 million and the highest estimate coming in at $97.20 million. Hallmark Financial Services posted sales of $93.84 million in the same quarter last year, which would indicate a positive year over year growth rate of 3.5%. The company is scheduled to issue its next quarterly earnings results on Tuesday, May 8th.
According to Zacks, analysts expect that Hallmark Financial Services will report full-year sales of $400.87 million for the current fiscal year, with estimates ranging from $396.43 million to $405.30 million. For the next financial year, analysts forecast that the business will report sales of $429.41 million per share, with estimates ranging from $411.91 million to $446.90 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Hallmark Financial Services.
A number of brokerages recently weighed in on HALL. Zacks Investment Research cut Hallmark Financial Services from a “hold” rating to a “sell” rating in a report on Wednesday, January 10th. Boenning Scattergood began coverage on Hallmark Financial Services in a report on Tuesday, January 9th. They set a “neutral” rating on the stock. Finally, ValuEngine raised Hallmark Financial Services from a “sell” rating to a “hold” rating in a report on Thursday.
In other news, CEO Naveen Anand acquired 10,600 shares of the firm’s stock in a transaction that occurred on Wednesday, March 14th. The shares were bought at an average cost of $9.34 per share, with a total value of $99,004.00. Following the acquisition, the chief executive officer now owns 70,900 shares in the company, valued at approximately $662,206. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 28.70% of the company’s stock.
Institutional investors have recently made changes to their positions in the business. Bank of Montreal Can increased its stake in Hallmark Financial Services by 1.6% in the 4th quarter. Bank of Montreal Can now owns 711,918 shares of the insurance provider’s stock worth $7,425,000 after purchasing an additional 11,107 shares during the period. Martingale Asset Management L P increased its stake in Hallmark Financial Services by 32.7% in the 4th quarter. Martingale Asset Management L P now owns 60,504 shares of the insurance provider’s stock worth $632,000 after purchasing an additional 14,911 shares during the period. Chartwell Investment Partners LLC increased its stake in Hallmark Financial Services by 29.8% in the 4th quarter. Chartwell Investment Partners LLC now owns 504,596 shares of the insurance provider’s stock worth $5,263,000 after purchasing an additional 115,776 shares during the period. Fenimore Asset Management Inc. increased its stake in Hallmark Financial Services by 1.2% in the 4th quarter. Fenimore Asset Management Inc. now owns 667,963 shares of the insurance provider’s stock worth $6,967,000 after purchasing an additional 7,770 shares during the period. Finally, Stone Ridge Asset Management LLC purchased a new position in Hallmark Financial Services in the 4th quarter worth approximately $305,000. 65.91% of the stock is currently owned by institutional investors and hedge funds.
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Hallmark Financial Services Company 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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