Hallmark Financial Services, Inc. (NASDAQ:HALL) Position Lessened by Fenimore Asset Management Inc.

Fenimore Asset Management Inc. lessened its stake in Hallmark Financial Services, Inc. (NASDAQ:HALL) by 3.0% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 662,907 shares of the insurance provider’s stock after selling 20,510 shares during the quarter. Fenimore Asset Management Inc. owned 3.66% of Hallmark Financial Services worth $9,433,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Cove Street Capital LLC lifted its position in shares of Hallmark Financial Services by 1.4% in the first quarter. Cove Street Capital LLC now owns 1,685,981 shares of the insurance provider’s stock valued at $17,534,000 after acquiring an additional 23,373 shares in the last quarter. O Shaughnessy Asset Management LLC lifted its position in shares of Hallmark Financial Services by 62.1% in the first quarter. O Shaughnessy Asset Management LLC now owns 18,960 shares of the insurance provider’s stock valued at $197,000 after acquiring an additional 7,261 shares in the last quarter. Teton Advisors Inc. lifted its position in Hallmark Financial Services by 2.8% during the first quarter. Teton Advisors Inc. now owns 188,930 shares of the insurance provider’s stock worth $1,965,000 after buying an additional 5,070 shares during the period. Wedge Capital Management L L P NC lifted its position in Hallmark Financial Services by 30.4% during the first quarter. Wedge Capital Management L L P NC now owns 31,169 shares of the insurance provider’s stock worth $324,000 after buying an additional 7,269 shares during the period. Finally, SG Americas Securities LLC purchased a new position in Hallmark Financial Services during the first quarter worth about $109,000. Institutional investors and hedge funds own 64.65% of the company’s stock.

HALL stock opened at $16.58 on Friday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.49 and a current ratio of 0.51. Hallmark Financial Services, Inc. has a 1 year low of $9.48 and a 1 year high of $16.96. The firm has a market cap of $301.39 million, a P/E ratio of 16.42 and a beta of 0.63. The stock has a 50-day simple moving average of $14.88 and a 200-day simple moving average of $12.14.

In related news, CEO Naveen Anand bought 6,500 shares of the 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 owns 77,400 shares in the company, valued at $1,267,812. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 28.60% of the stock is currently owned by company insiders.

HALL has been the topic of several recent analyst reports. Zacks Investment Research upgraded Hallmark Financial Services from a “hold” rating to a “strong-buy” rating and set a $18.00 target price on the stock in a research report on Wednesday. BidaskClub upgraded Hallmark Financial Services from a “buy” rating to a “strong-buy” rating in a report on Tuesday, July 30th. TheStreet upgraded Hallmark Financial Services from a “c” rating to a “b” rating in a report on Wednesday, May 29th. Boenning Scattergood upgraded Hallmark Financial Services from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $13.00 to $14.00 in a report on Thursday, May 9th. Finally, ValuEngine downgraded Hallmark Financial Services from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. One analyst has rated the stock with a hold rating, two have issued a buy rating and two have issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $16.67.

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.

Further Reading: Market Timing

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

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