Fenimore Asset Management Inc. Trims Stock Holdings in Hallmark Financial Services, Inc. (NASDAQ:HALL)

Fenimore Asset Management Inc. lowered its position in Hallmark Financial Services, Inc. (NASDAQ:HALL) by 10.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 593,867 shares of the insurance provider’s stock after selling 69,040 shares during the quarter. Fenimore Asset Management Inc. owned approximately 3.28% of Hallmark Financial Services worth $11,361,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of HALL. Vanguard Group Inc. lifted its stake in Hallmark Financial Services by 29.7% in the second quarter. Vanguard Group Inc. now owns 945,386 shares of the insurance provider’s stock valued at $13,453,000 after buying an additional 216,369 shares during the last quarter. Intrinsic Edge Capital Management LLC purchased a new stake in Hallmark Financial Services in the second quarter valued at approximately $2,135,000. BlackRock Inc. lifted its stake in Hallmark Financial Services by 14.5% in the second quarter. BlackRock Inc. now owns 942,492 shares of the insurance provider’s stock valued at $13,412,000 after buying an additional 119,387 shares during the last quarter. Renaissance Technologies LLC lifted its stake in Hallmark Financial Services by 32.1% in the second quarter. Renaissance Technologies LLC now owns 417,015 shares of the insurance provider’s stock valued at $5,934,000 after buying an additional 101,359 shares during the last quarter. Finally, ClariVest Asset Management LLC purchased a new stake in Hallmark Financial Services in the second quarter valued at approximately $922,000. Institutional investors own 65.83% of the company’s stock.

In related news, CEO Naveen Anand purchased 6,500 shares of the business’s stock in a transaction dated Wednesday, August 14th. The stock was acquired at an average price of $16.38 per share, for a total transaction of $106,470.00. Following the completion of the purchase, the chief executive officer now directly owns 77,400 shares of the company’s stock, valued at $1,267,812. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 28.60% of the stock is owned by corporate insiders.

A number of equities research analysts have weighed in on the company. Zacks Investment Research cut Hallmark Financial Services from a “buy” rating to a “hold” rating in a research note on Tuesday. Raymond James boosted their price objective on Hallmark Financial Services from $15.00 to $18.00 and gave the company an “outperform” rating in a research note on Monday, August 12th. BidaskClub upgraded Hallmark Financial Services from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, July 30th. Finally, ValuEngine cut Hallmark Financial Services from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $17.67.

Shares of Hallmark Financial Services stock traded up $0.57 during trading hours on Tuesday, hitting $19.84. 2,667 shares of the company were exchanged, compared to its average volume of 132,260. Hallmark Financial Services, Inc. has a 1 year low of $9.48 and a 1 year high of $20.30. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.30. The business has a 50-day moving average of $18.60 and a 200-day moving average of $14.75. The stock has a market capitalization of $338.54 million, a price-to-earnings ratio of 19.69 and a beta of 0.60.

Hallmark Financial Services (NASDAQ:HALL) last released its quarterly earnings results on Wednesday, August 7th. The insurance provider reported $0.42 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.35 by $0.07. Hallmark Financial Services had a return on equity of 8.29% and a net margin of 7.65%. The business had revenue of $112.29 million during the quarter, compared to analysts’ expectations of $106.75 million. As a group, research analysts anticipate that Hallmark Financial Services, Inc. will post 1.43 earnings per share for the current fiscal year.

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.

Recommended Story: What are earnings reports?

Want to see what other hedge funds are holding HALL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Hallmark Financial Services, Inc. (NASDAQ:HALL).

Institutional Ownership by Quarter for Hallmark Financial Services (NASDAQ:HALL)

Receive News & Ratings for Hallmark Financial Services Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hallmark Financial Services and related companies with MarketBeat.com's FREE daily email newsletter.