Zacks Investment Research upgraded shares of Hallmark Financial Services (NASDAQ:HALL) from a hold rating to a buy rating in a report published on Tuesday. Zacks Investment Research currently has $11.00 target price on the insurance provider’s stock.
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 started coverage on Hallmark Financial Services in a research note on Tuesday, January 9th. They issued a neutral rating on the stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in HALL. Alliancebernstein L.P. lifted its stake in shares of Hallmark Financial Services by 11.2% in the 2nd quarter. Alliancebernstein L.P. now owns 18,800 shares of the insurance provider’s stock valued at $212,000 after purchasing an additional 1,900 shares in the last quarter. Teachers Advisors LLC lifted its stake in shares of Hallmark Financial Services by 6.8% in the 2nd 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. Ameriprise Financial Inc. acquired a new position in shares of Hallmark Financial Services in the 2nd quarter valued at about $190,000. Northern Trust Corp lifted its stake in shares of Hallmark Financial Services by 0.9% in the 2nd quarter. Northern Trust Corp now owns 175,590 shares of the insurance provider’s stock valued at $1,979,000 after purchasing an additional 1,584 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in shares of Hallmark Financial Services by 0.5% in the 2nd quarter. Vanguard Group Inc. now owns 386,596 shares of the insurance provider’s stock valued at $4,357,000 after purchasing an additional 2,031 shares in the last quarter. 65.88% of the stock is currently owned by institutional investors and hedge funds.
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About Hallmark Financial Services
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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