Bank of America Corp DE decreased its position in shares of Ambac Financial Group, Inc. (NASDAQ:AMBC) by 3.8% during the first quarter, Holdings Channel reports. The fund owned 86,088 shares of the financial services provider’s stock after selling 3,418 shares during the period. Bank of America Corp DE’s holdings in Ambac Financial Group were worth $1,624,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Gendell Jeffrey L raised its position in shares of Ambac Financial Group by 6.3% in the first quarter. Gendell Jeffrey L now owns 534,400 shares of the financial services provider’s stock worth $10,079,000 after buying an additional 31,471 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of Ambac Financial Group by 50.0% in the first quarter. Renaissance Technologies LLC now owns 241,200 shares of the financial services provider’s stock worth $4,549,000 after buying an additional 80,400 shares during the last quarter. Lazard Asset Management LLC bought a new position in shares of Ambac Financial Group during the first quarter worth about $631,000. Globeflex Capital L P bought a new position in shares of Ambac Financial Group during the first quarter worth about $362,000. Finally, Geode Capital Management LLC raised its position in shares of Ambac Financial Group by 8.1% in the first quarter. Geode Capital Management LLC now owns 364,329 shares of the financial services provider’s stock worth $6,871,000 after buying an additional 27,263 shares during the last quarter. Institutional investors and hedge funds own 72.02% of the company’s stock.

Shares of Ambac Financial Group, Inc. (NASDAQ AMBC) traded down 1.06% on Tuesday, reaching $18.68. 42,551 shares of the company’s stock were exchanged. Ambac Financial Group, Inc. has a one year low of $15.67 and a one year high of $27.25. The firm has a 50 day moving average of $18.77 and a 200 day moving average of $18.96. The firm’s market capitalization is $845.29 million.

Ambac Financial Group (NASDAQ:AMBC) last issued its quarterly earnings data on Wednesday, August 9th. The financial services provider reported $1.54 earnings per share for the quarter, topping the consensus estimate of $1.22 by $0.32. The business had revenue of $172.85 million during the quarter, compared to the consensus estimate of $127.75 million. Ambac Financial Group had a negative net margin of 16.39% and a positive return on equity of 5.74%. The company’s revenue was up 36.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.54 EPS. On average, equities research analysts predict that Ambac Financial Group, Inc. will post $0.70 EPS for the current year.

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A number of research analysts have issued reports on the stock. MKM Partners restated a “neutral” rating and set a $21.00 price target (up previously from $17.00) on shares of Ambac Financial Group in a research note on Tuesday, July 25th. BTIG Research restated a “buy” rating and set a $26.00 price target on shares of Ambac Financial Group in a research note on Saturday, July 22nd.

In related news, CEO Claude Leblanc acquired 7,500 shares of Ambac Financial Group stock in a transaction dated Thursday, May 18th. The stock was acquired at an average price of $16.45 per share, for a total transaction of $123,375.00. Following the transaction, the chief executive officer now owns 25,400 shares of the company’s stock, valued at $417,830. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.61% of the stock is currently owned by insiders.

Want to see what other hedge funds are holding AMBC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ambac Financial Group, Inc. (NASDAQ:AMBC).

Institutional Ownership by Quarter for Ambac Financial Group (NASDAQ:AMBC)

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