Wall Street brokerages predict that Hallmark Financial Services, Inc. (NASDAQ:HALL) will announce sales of $97.33 million for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Hallmark Financial Services’ earnings. The lowest sales estimate is $96.96 million and the highest is $97.70 million. Hallmark Financial Services reported sales of $93.84 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 3.7%. The firm is expected to issue its next quarterly earnings results on Tuesday, May 8th.
On average, analysts expect that Hallmark Financial Services will report full year sales of $97.33 million for the current financial year, with estimates ranging from $396.43 million to $407.20 million. For the next financial year, analysts anticipate that the firm will report sales of $430.46 million per share, with estimates ranging from $411.91 million to $449.00 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow Hallmark Financial Services.
HALL has been the topic of a number of analyst reports. Zacks Investment Research lowered Hallmark Financial Services from a “buy” rating to a “hold” rating in a research note on Wednesday, March 14th. Boenning Scattergood initiated coverage on Hallmark Financial Services in a research note on Tuesday, January 9th. They set a “neutral” rating on the stock. Finally, ValuEngine lowered Hallmark Financial Services from a “hold” rating to a “sell” rating in a research note on Saturday, March 17th.
In other Hallmark Financial Services news, CEO Naveen Anand bought 10,600 shares of the firm’s stock in a transaction on Wednesday, March 14th. The shares were acquired at an average cost of $9.34 per share, for a total transaction of $99,004.00. Following the purchase, the chief executive officer now directly owns 70,900 shares of the company’s stock, valued at $662,206. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 28.70% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Northern Trust Corp increased its stake in Hallmark Financial Services by 0.9% in the 2nd quarter. Northern Trust Corp now owns 175,590 shares of the insurance provider’s stock worth $1,979,000 after acquiring an additional 1,584 shares during the last quarter. Vanguard Group Inc. increased its stake in Hallmark Financial Services by 0.5% in the 2nd quarter. Vanguard Group Inc. now owns 386,596 shares of the insurance provider’s stock worth $4,357,000 after acquiring an additional 2,031 shares during the last quarter. Wells Fargo & Company MN increased its stake in Hallmark Financial Services by 40.6% in the 4th quarter. Wells Fargo & Company MN now owns 19,572 shares of the insurance provider’s stock worth $205,000 after acquiring an additional 5,651 shares during the last quarter. Deutsche Bank AG increased its stake in Hallmark Financial Services by 12.2% in the 4th quarter. Deutsche Bank AG now owns 55,876 shares of the insurance provider’s stock worth $581,000 after acquiring an additional 6,080 shares during the last quarter. Finally, 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 acquiring an additional 7,770 shares during the last quarter. Institutional investors and hedge funds own 65.84% of the company’s stock.
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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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