Ambac Financial Group, Inc. (NYSE:AMBC) Shares Sold by Rhumbline Advisers

Rhumbline Advisers lessened its holdings in shares of Ambac Financial Group, Inc. (NYSE:AMBC) by 1.9% in the second quarter, according to its most recent filing with the SEC. The firm owned 131,878 shares of the company’s stock after selling 2,571 shares during the quarter. Rhumbline Advisers owned about 0.29% of Ambac Financial Group worth $1,691,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Versor Investments LP acquired a new position in Ambac Financial Group during the 2nd quarter worth $218,000. nVerses Capital LLC raised its stake in shares of Ambac Financial Group by 525.0% in the 2nd quarter. nVerses Capital LLC now owns 5,000 shares of the company’s stock worth $64,000 after buying an additional 4,200 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Ambac Financial Group by 20.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,826 shares of the company’s stock worth $126,000 after buying an additional 1,637 shares in the last quarter. Gendell Jeffrey L raised its stake in shares of Ambac Financial Group by 118.0% in the 1st quarter. Gendell Jeffrey L now owns 434,313 shares of the company’s stock worth $6,788,000 after buying an additional 235,058 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its stake in shares of Ambac Financial Group by 5.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 38,405 shares of the company’s stock worth $601,000 after buying an additional 1,861 shares in the last quarter. Institutional investors and hedge funds own 84.49% of the company’s stock.

Ambac Financial Group Stock Down 2.9 %

Shares of Ambac Financial Group stock opened at $11.37 on Friday. The stock’s fifty day moving average is $11.66 and its 200-day moving average is $13.80. The firm has a market capitalization of $514.21 million, a PE ratio of 8.73 and a beta of 1.24. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 2.37. Ambac Financial Group, Inc. has a 12-month low of $10.12 and a 12-month high of $18.45.

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

Insider Activity at Ambac Financial Group

In other Ambac Financial Group news, CFO David Trick purchased 3,700 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The shares were purchased at an average cost of $10.76 per share, with a total value of $39,812.00. Following the completion of the transaction, the chief financial officer now owns 156,082 shares of the company’s stock, valued at $1,679,442.32. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Jeffrey Scott Stein bought 25,000 shares of the 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 completion of the purchase, the director now directly owns 35,000 shares of the company’s stock, valued at approximately $378,700. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, CFO David Trick bought 3,700 shares of the company’s stock in a transaction on Wednesday, August 7th. The stock was purchased at an average cost of $10.76 per share, for a total transaction of $39,812.00. Following the completion of the transaction, the chief financial officer now owns 156,082 shares in the company, valued at $1,679,442.32. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 34,800 shares of company stock valued at $377,016. Company insiders own 5.00% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Roth Mkm raised Ambac Financial Group from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $13.00 to $15.00 in a research note on Wednesday. Roth Capital raised Ambac Financial Group from a “hold” rating to a “strong-buy” rating in a research note on Wednesday. Finally, StockNews.com downgraded Ambac Financial Group from a “hold” rating to a “sell” rating in a research note on Wednesday, August 14th.

About Ambac Financial Group

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.