Russell Investments Group Ltd. trimmed its position in Ambac Financial Group, Inc. (NASDAQ:AMBC) by 14.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 96,802 shares of the financial services provider’s stock after selling 15,892 shares during the quarter. Russell Investments Group Ltd. owned 0.21% of Ambac Financial Group worth $1,976,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Glen Harbor Capital Management LLC bought a new stake in Ambac Financial Group in the second quarter valued at $115,000. Globeflex Capital L P bought a new stake in Ambac Financial Group in the second quarter valued at $159,000. Meadow Creek Investment Management LLC bought a new stake in Ambac Financial Group in the second quarter valued at $178,000. Algert Global LLC bought a new stake in Ambac Financial Group in the second quarter valued at $199,000. Finally, Piedmont Investment Advisors LLC bought a new stake in Ambac Financial Group in the second quarter valued at $210,000. Institutional investors and hedge funds own 77.95% of the company’s stock.

Shares of AMBC stock opened at $16.82 on Wednesday. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 4.74. The firm has a market cap of $792.48 million, a PE ratio of 2.71 and a beta of 1.41. Ambac Financial Group, Inc. has a 52 week low of $13.96 and a 52 week high of $23.34.

Ambac Financial Group (NASDAQ:AMBC) last announced its earnings results on Wednesday, November 7th. The financial services provider reported ($1.66) EPS for the quarter, missing the consensus estimate of $0.30 by ($1.96). The business had revenue of $134.00 million for the quarter, compared to the consensus estimate of $96.21 million. Ambac Financial Group had a return on equity of 15.53% and a net margin of 28.81%. Ambac Financial Group’s revenue for the quarter was up .8% on a year-over-year basis. During the same quarter in the previous year, the company posted ($3.30) EPS.

A number of analysts have weighed in on AMBC shares. TheStreet upgraded Ambac Financial Group from a “d+” rating to a “c” rating in a research report on Wednesday, November 14th. BidaskClub upgraded Ambac Financial Group from a “hold” rating to a “buy” rating in a report on Wednesday, October 31st. Finally, ValuEngine upgraded Ambac Financial Group from a “hold” rating to a “buy” rating in a report on Tuesday, October 30th. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $20.00.

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

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