Hallmark Financial Services (NASDAQ:HALL) Coverage Initiated at StockNews.com

Investment analysts at StockNews.com assumed coverage on shares of Hallmark Financial Services (NASDAQ:HALL) in a research note issued to investors on Monday. The brokerage set a “hold” rating on the insurance provider’s stock.

Hallmark Financial Services Stock Performance

HALL opened at $0.70 on Monday. The business has a 50 day moving average price of $0.83 and a 200 day moving average price of $1.33. Hallmark Financial Services has a twelve month low of $0.57 and a twelve month high of $7.22. The firm has a market cap of $1.47 million, a P/E ratio of -0.02 and a beta of 1.16.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in HALL. Acadian Asset Management LLC bought a new position in Hallmark Financial Services in the 1st quarter worth approximately $48,000. Renaissance Technologies LLC increased its stake in shares of Hallmark Financial Services by 20.5% in the first quarter. Renaissance Technologies LLC now owns 123,613 shares of the insurance provider’s stock valued at $449,000 after buying an additional 21,023 shares in the last quarter. Virtu Financial LLC acquired a new stake in shares of Hallmark Financial Services in the first quarter valued at $95,000. Point72 Asset Management L.P. bought a new position in shares of Hallmark Financial Services in the second quarter valued at about $31,000. Finally, Dimensional Fund Advisors LP bought a new stake in Hallmark Financial Services during the 1st quarter worth about $292,000. 5.62% of the stock is owned by institutional investors.

About Hallmark Financial Services

Hallmark Financial Services, Inc underwrites, markets, distributes, and services property/casualty insurance products to businesses and individuals in the United States. The company operates in three segments: Commercial Lines, Personal Lines, and Runoff. The Commercial Lines segment offers commercial property/casualty insurance products, including general liability, commercial automobile, commercial property, umbrella, commercial multi-peril, and business owners' insurance products, as well as aircraft and aircraft liability products.