Wells Fargo & Company MN grew its holdings in Ambac Financial Group, Inc. (NASDAQ:AMBC) by 5.6% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 91,880 shares of the financial services provider’s stock after buying an additional 4,875 shares during the period. Wells Fargo & Company MN owned 0.20% of Ambac Financial Group worth $1,441,000 at the end of the most recent reporting period.
Other large investors have also made changes to their positions in the company. BlackRock Inc. raised its holdings in shares of Ambac Financial Group by 2.3% in the fourth quarter. BlackRock Inc. now owns 2,153,975 shares of the financial services provider’s stock valued at $34,421,000 after buying an additional 49,143 shares during the last quarter. Deutsche Bank AG raised its holdings in Ambac Financial Group by 5.1% during the fourth quarter. Deutsche Bank AG now owns 394,308 shares of the financial services provider’s stock worth $6,298,000 after purchasing an additional 19,096 shares in the last quarter. Delek Group Ltd. purchased a new position in Ambac Financial Group during the fourth quarter worth about $6,863,000. Two Sigma Investments LP raised its holdings in Ambac Financial Group by 658.8% during the fourth quarter. Two Sigma Investments LP now owns 236,000 shares of the financial services provider’s stock worth $3,771,000 after purchasing an additional 204,900 shares in the last quarter. Finally, MetLife Investment Advisors LLC purchased a new position in Ambac Financial Group during the fourth quarter worth about $359,000. 78.56% of the stock is owned by institutional investors and hedge funds.
Several research firms recently issued reports on AMBC. MKM Partners increased their price target on shares of Ambac Financial Group to $20.00 and gave the stock a “neutral” rating in a report on Friday, June 29th. BidaskClub cut shares of Ambac Financial Group from a “buy” rating to a “hold” rating in a report on Saturday, May 26th.
NASDAQ AMBC opened at $20.32 on Wednesday. The stock has a market cap of $918.43 million, a P/E ratio of 3.63 and a beta of 1.69. Ambac Financial Group, Inc. has a 52-week low of $13.17 and a 52-week high of $22.02. The company has a debt-to-equity ratio of 7.22, a current ratio of 0.91 and a quick ratio of 0.91.
Ambac Financial Group (NASDAQ:AMBC) last posted its quarterly earnings results on Tuesday, May 8th. The financial services provider reported $7.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.09 by $6.13. The firm had revenue of $174.10 million during the quarter, compared to analysts’ expectations of $106.34 million. Ambac Financial Group had a net margin of 15.31% and a return on equity of 13.71%. The firm’s revenue for the quarter was up 38.0% on a year-over-year basis. During the same period in the prior year, the company posted ($2.01) earnings per share.
Ambac Financial Group Profile
Ambac Financial Group, Inc, a financial services holding company, provides financial guarantees to clients in public and private sectors worldwide. It offers financial guarantee insurance policies and credit derivative contracts for public finance, structured finance, and international finance. The company was founded in 1971 and is headquartered in New York, New York.
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