Public Sector Pension Investment Board Acquires 5,664 Shares of Ambac Financial Group, Inc. (NYSE:AMBC)

Public Sector Pension Investment Board boosted its holdings in shares of Ambac Financial Group, Inc. (NYSE:AMBC) by 3.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 171,456 shares of the company’s stock after purchasing an additional 5,664 shares during the period. Public Sector Pension Investment Board owned about 0.38% of Ambac Financial Group worth $2,198,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Gendell Jeffrey L increased its holdings in shares of Ambac Financial Group by 52.9% during the fourth quarter. Gendell Jeffrey L now owns 199,255 shares of the company’s stock worth $3,284,000 after buying an additional 68,959 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of Ambac Financial Group by 95.3% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 10,542 shares of the company’s stock worth $165,000 after purchasing an additional 5,145 shares during the last quarter. BNP Paribas Financial Markets increased its stake in shares of Ambac Financial Group by 55.3% in the 1st quarter. BNP Paribas Financial Markets now owns 23,370 shares of the company’s stock valued at $365,000 after acquiring an additional 8,318 shares during the last quarter. Texas Permanent School Fund Corp boosted its position in shares of Ambac Financial Group by 2.0% during the first quarter. Texas Permanent School Fund Corp now owns 39,554 shares of the company’s stock worth $618,000 after purchasing an additional 770 shares in the last quarter. Finally, Empowered Funds LLC grew its stake in Ambac Financial Group by 8.8% in the first quarter. Empowered Funds LLC now owns 154,084 shares of the company’s stock valued at $2,408,000 after acquiring an additional 12,457 shares during the period. 84.49% of the stock is currently owned by institutional investors.

Ambac Financial Group Stock Performance

Shares of NYSE AMBC opened at $11.23 on Monday. The company has a debt-to-equity ratio of 2.37, a quick ratio of 0.62 and a current ratio of 0.62. The stock has a 50 day moving average price of $11.48 and a 200 day moving average price of $13.62. The stock has a market capitalization of $507.88 million, a PE ratio of 8.57 and a beta of 1.24. Ambac Financial Group, Inc. has a 52 week low of $10.12 and a 52 week high of $18.45.

Ambac Financial Group (NYSE:AMBC) last issued its earnings results on Monday, August 5th. The company reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.01). Ambac Financial Group had a return on equity of 10.79% and a net margin of 19.27%. The firm had revenue of $105.00 million for the quarter. During the same quarter last year, the firm posted $0.07 EPS. Analysts predict that Ambac Financial Group, Inc. will post 1.3 earnings per share for the current fiscal year.

Insider Activity at Ambac Financial Group

In related news, Director Jeffrey Scott Stein acquired 25,000 shares of the company’s stock in a transaction dated Wednesday, August 7th. The shares were bought at an average cost of $10.82 per share, with a total value of $270,500.00. Following the completion of the transaction, the director now directly owns 35,000 shares of the company’s stock, valued at $378,700. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. In other Ambac Financial Group news, Director Jeffrey Scott Stein bought 25,000 shares of the firm’s stock in a transaction on Wednesday, August 7th. The shares were purchased at an average price of $10.82 per share, for a total transaction of $270,500.00. Following the transaction, the director now directly owns 35,000 shares in the company, valued at approximately $378,700. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, General Counsel Stephen Michael Ksenak acquired 5,000 shares of the company’s stock in a transaction on Wednesday, August 7th. The stock was bought at an average cost of $11.00 per share, with a total value of $55,000.00. Following the completion of the acquisition, the general counsel now directly owns 116,609 shares in the company, valued at $1,282,699. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 37,500 shares of company stock worth $407,445. Insiders own 5.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on AMBC. Roth Mkm upgraded shares of Ambac Financial Group from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $13.00 to $15.00 in a report on Wednesday, September 18th. Roth Capital raised Ambac Financial Group from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, September 18th. Finally, StockNews.com cut shares of Ambac Financial Group from a “hold” rating to a “sell” rating in a report on Wednesday, August 14th.

Ambac Financial Group Profile

Ambac Financial Group, Inc operates as a financial services holding company. It operates three businesses: Specialty Property and Casualty Insurance, Insurance Distribution, and Legacy Financial Guarantee (LFG) Insurance. The Specialty Property and Casualty Insurance business provides specialty property and casualty program insurance with a focus commercial and personal liability risks.