Ambac Financial Group, Inc. (AMBC) Position Cut by First Trust Advisors LP
First Trust Advisors LP cut its stake in Ambac Financial Group, Inc. (NASDAQ:AMBC) by 14.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 93,629 shares of the financial services provider’s stock after selling 16,407 shares during the period. First Trust Advisors LP owned 0.21% of Ambac Financial Group worth $1,616,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Public Employees Retirement System of Ohio raised its holdings in Ambac Financial Group by 5.7% in the second quarter. Public Employees Retirement System of Ohio now owns 6,093 shares of the financial services provider’s stock valued at $106,000 after acquiring an additional 330 shares in the last quarter. BNP Paribas Arbitrage SA raised its holdings in Ambac Financial Group by 35.7% in the second quarter. BNP Paribas Arbitrage SA now owns 14,211 shares of the financial services provider’s stock valued at $247,000 after acquiring an additional 3,737 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. acquired a new stake in Ambac Financial Group in the second quarter valued at $257,000. BB&T Securities LLC raised its holdings in Ambac Financial Group by 57.2% in the second quarter. BB&T Securities LLC now owns 16,768 shares of the financial services provider’s stock valued at $290,000 after acquiring an additional 6,100 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. raised its holdings in Ambac Financial Group by 58.7% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 17,304 shares of the financial services provider’s stock valued at $300,000 after acquiring an additional 6,400 shares in the last quarter. 70.22% of the stock is currently owned by hedge funds and other institutional investors.
Separately, MKM Partners reaffirmed a “hold” rating on shares of Ambac Financial Group in a report on Thursday, October 5th.
In other Ambac Financial Group news, CEO Claude Leblanc bought 15,000 shares of the company’s stock in a transaction on Wednesday, October 4th. The shares were bought at an average cost of $16.64 per share, with a total value of $249,600.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director C James Prieur bought 10,000 shares of the company’s stock in a transaction on Monday, November 13th. The shares were acquired at an average cost of $14.02 per share, for a total transaction of $140,200.00. The disclosure for this purchase can be found here. Corporate insiders own 0.61% of the company’s stock.
Shares of Ambac Financial Group, Inc. (AMBC) opened at $15.01 on Thursday. The company has a debt-to-equity ratio of 7.46, a current ratio of 0.38 and a quick ratio of 0.38. Ambac Financial Group, Inc. has a twelve month low of $13.17 and a twelve month high of $27.25.
Ambac Financial Group (NASDAQ:AMBC) last posted its quarterly earnings results on Wednesday, November 8th. The financial services provider reported ($3.30) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($4.22). The company had revenue of $132.97 million during the quarter, compared to analyst estimates 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 company’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.
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Ambac Financial Group Company Profile
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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