Allspring Global Investments Holdings LLC Raises Holdings in Ambac Financial Group, Inc. (NYSE:AMBC)

Allspring Global Investments Holdings LLC lifted its stake in Ambac Financial Group, Inc. (NYSE:AMBC) by 95.3% during the first quarter, Holdings Channel reports. The institutional investor owned 10,542 shares of the company’s stock after acquiring an additional 5,145 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Ambac Financial Group were worth $165,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of AMBC. Victory Capital Management Inc. purchased a new stake in shares of Ambac Financial Group in the fourth quarter worth about $165,000. Cornerstone Investment Partners LLC purchased a new stake in shares of Ambac Financial Group in the fourth quarter worth about $178,000. Graham Capital Management L.P. purchased a new position in Ambac Financial Group during the third quarter worth approximately $244,000. Louisiana State Employees Retirement System purchased a new position in Ambac Financial Group during the fourth quarter worth approximately $372,000. Finally, Illinois Municipal Retirement Fund boosted its position in Ambac Financial Group by 3.5% during the fourth quarter. Illinois Municipal Retirement Fund now owns 26,645 shares of the company’s stock worth $439,000 after purchasing an additional 905 shares in the last quarter. Hedge funds and other institutional investors own 84.49% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Compass Point increased their price target on Ambac Financial Group from $18.00 to $19.00 and gave the stock a “buy” rating in a research report on Wednesday, May 8th. StockNews.com upgraded Ambac Financial Group from a “sell” rating to a “hold” rating in a research report on Tuesday, May 14th.

Ambac Financial Group Stock Performance

Shares of AMBC stock opened at $12.50 on Friday. The company has a market capitalization of $565.31 million, a P/E ratio of 9.54 and a beta of 1.24. The business’s 50 day moving average is $14.88 and its two-hundred day moving average is $15.34. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 2.42. Ambac Financial Group, Inc. has a 12-month low of $11.26 and a 12-month high of $18.45.

Ambac Financial Group (NYSE:AMBC) last announced its earnings results on Monday, May 6th. The company reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.61. Ambac Financial Group had a return on equity of 10.69% and a net margin of 18.09%. The business had revenue of $103.00 million during the quarter. During the same period in the previous year, the company earned ($0.30) EPS. Analysts expect that Ambac Financial Group, Inc. will post 1.45 EPS for the current fiscal year.

Ambac Financial Group Company 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.