Jeffrey Bronchick’s Cove Street Capital increased Position in Hallmark Financial Services Inc
Cove Street Capital has filled a SC 13G/A form regarding Hallmark Financial Services Inc
The $763.78 million hedge fund looks more positive after such an increase of Hallmark Financial Services Inc’s position.
The hedge fund has been active in the Finance sector recently. In the fund’s latest 13F, it revealed several positions. This sector is 29% of Jeffrey Bronchick’s Cove Street Capital’s US equities portfolio.
Hallmark Financial Services Inc Hedge Funds Ownership
Latest SEC filings show 66 hedge funds and institutional investors own Hallmark Financial Services Inc. The institutional ownership of the company in Q1 2015 is high, at 62.86 % of the shares outstanding. They increased by 34664 the total shares they hold. As of that quarter these institutional investors owned 11873420 shares. A total of 6 funds opened new positions in Hallmark Financial Services Inc and 27 increased their holdings. There were 2 funds that closed their positions and 21 that reduced them.
Fenimore Asset Management Inc is the most positive institutional investor on Hallmark Financial Services Inc, with ownership of 468125 shares as of Q1 2015 for 0.26% of the fund’s portfolio. Hodges Capital Management Inc is another positive player owning 56300 shares of the company or 0.02% of their stocks portfolio. PA Killen Group Inc have 1.20% of their stock portfolio invested in the stock for 1585897. Further, Punch & Associates Investment Management Inc disclosed it had purchased a stake worth 0.13% of the fund’s stock portfolio in the company. The CA Cove Street Capital Llc was also a notable investor in the firm, owning 1433004 shares. Hallmark Financial Services Inc is 1.99% of the fund’s stock portfolio.
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. Its segments include Standard Commercial Segment, Specialty Commercial Segment and Personal Segment. The Company’s Standard Commercial P&C operating unit primarily underwrites low-severity, short-tailed commercial property/casualty insurance products in the standard market. The Company reinsures a portion of the risk it underwrites in order to control the exposure to losses and to protect capital resources. Its Workers Compensation operating unit specializes in small and middle market workers compensation business. Its Specialty Commercial operating unit offers general aviation and satellite launch insurance products and services.
Form 13G is used when the filer owns between 5% and 20% of the company and plans to hold it only as a passive investor. If the filler intend to exert control and if the stake’s size exceeds 20%, then a 13D must be filed. Therefore, activist investors and practices such as: hostile takeovers, company breakups, and other “change of control” events, are not permitted by 13G filers.
Jeffrey Bronchick’s Cove Street Capital website.
The post Jeffrey Bronchick’s Cove Street Capital Bought Hallmark Financial Services Inc’s Shares appeared first on Octafinance.