Allianz Asset Management GmbH raised its holdings in shares of Ambac Financial Group, Inc. (NASDAQ:AMBC) by 13.2% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 68,915 shares of the financial services provider’s stock after acquiring an additional 8,016 shares during the quarter. Allianz Asset Management GmbH owned approximately 0.15% of Ambac Financial Group worth $1,189,000 as of its most recent filing with the SEC.
Several other large investors have also added to or reduced their stakes in AMBC. TIAA CREF Investment Management LLC boosted its position in shares of Ambac Financial Group by 31.4% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 210,158 shares of the financial services provider’s stock valued at $3,646,000 after purchasing an additional 50,218 shares during the period. Systematic Financial Management LP acquired a new stake in shares of Ambac Financial Group in the 2nd quarter valued at about $1,743,000. State Street Corp boosted its position in shares of Ambac Financial Group by 3.4% in the 2nd quarter. State Street Corp now owns 898,162 shares of the financial services provider’s stock valued at $15,583,000 after purchasing an additional 29,767 shares during the period. EJF Capital LLC boosted its position in shares of Ambac Financial Group by 41.4% in the 3rd quarter. EJF Capital LLC now owns 2,371,788 shares of the financial services provider’s stock valued at $40,937,000 after purchasing an additional 695,000 shares during the period. Finally, Russell Investments Group Ltd. boosted its position in shares of Ambac Financial Group by 14.1% in the 3rd quarter. Russell Investments Group Ltd. now owns 143,487 shares of the financial services provider’s stock valued at $2,477,000 after purchasing an additional 17,752 shares during the period. 70.51% of the stock is owned by institutional investors and hedge funds.
Shares of Ambac Financial Group, Inc. (NASDAQ:AMBC) opened at $15.73 on Friday. The company has a debt-to-equity ratio of 7.46, a quick ratio of 0.38 and a current ratio of 0.38. The company has a market capitalization of $717.68, a P/E ratio of -6.37 and a beta of 1.88. Ambac Financial Group, Inc. has a one year low of $13.17 and a one year high of $23.55.
Ambac Financial Group (NASDAQ:AMBC) last posted its quarterly earnings data on Wednesday, November 8th. The financial services provider reported ($3.30) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.92 by ($4.22). The company had revenue of $132.97 million for the quarter, compared to analysts’ expectations of $125.84 million. Ambac Financial Group had a negative net margin of 60.33% and a negative return on equity of 9.68%. The firm’s revenue was down 8.3% on a year-over-year basis. During the same period in the prior year, the company earned $3.23 earnings per share.
Separately, MKM Partners reissued a “hold” rating on shares of Ambac Financial Group in a research report on Thursday, October 5th.
In related news, Director C James Prieur acquired 10,000 shares of Ambac Financial Group stock in a transaction on Monday, November 13th. The stock was purchased at an average cost of $14.02 per share, with a total value of $140,200.00. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.61% of the stock is owned by corporate insiders.
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About Ambac Financial Group
Ambac Financial Group, Inc, a financial services holding company, provides financial guarantees and other financial services to clients in both the public and private sectors worldwide. It operates through two segments, Financial Guarantee and Financial Services. The Financial Guarantee segment provides financial guarantees, including insurance policies and credit derivative contracts for public finance, structured finance, and international obligations.
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