Swiss National Bank maintained its position in Ambac Financial Group, Inc. (NASDAQ:AMBC) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 74,400 shares of the financial services provider’s stock at the close of the 2nd quarter. Swiss National Bank owned about 0.16% of Ambac Financial Group worth $1,291,000 at the end of the most recent reporting period.
Several other large investors also recently added to or reduced their stakes in the stock. Harbor Advisors LLC increased its position in Ambac Financial Group by 2.2% during the first quarter. Harbor Advisors LLC now owns 230,617 shares of the financial services provider’s stock worth $4,349,000 after buying an additional 5,000 shares during the last quarter. Evermore Global Advisors LLC increased its position in Ambac Financial Group by 34.5% during the second quarter. Evermore Global Advisors LLC now owns 964,587 shares of the financial services provider’s stock worth $16,736,000 after buying an additional 247,634 shares during the last quarter. Tudor Investment Corp ET AL increased its position in Ambac Financial Group by 79.0% during the first quarter. Tudor Investment Corp ET AL now owns 18,800 shares of the financial services provider’s stock worth $355,000 after buying an additional 8,300 shares during the last quarter. State Street Corp increased its position in Ambac Financial Group by 0.8% during the first quarter. State Street Corp now owns 868,395 shares of the financial services provider’s stock worth $16,381,000 after buying an additional 6,732 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA acquired a new position in Ambac Financial Group during the first quarter worth approximately $755,000. 72.95% of the stock is currently owned by institutional investors and hedge funds.
Shares of Ambac Financial Group, Inc. (AMBC) opened at 16.08 on Friday. The stock’s 50 day moving average price is $17.57 and its 200-day moving average price is $18.04. The company’s market cap is $727.64 million. Ambac Financial Group, Inc. has a one year low of $15.67 and a one year high of $27.25.
Ambac Financial Group (NASDAQ:AMBC) last issued its quarterly earnings results on Wednesday, August 9th. The financial services provider reported $1.54 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.22 by $0.32. Ambac Financial Group had a negative net margin of 16.39% and a positive return on equity of 5.74%. The company had revenue of $172.85 million during the quarter, compared to analyst estimates of $127.75 million. During the same quarter last year, the business posted $2.54 EPS. Ambac Financial Group’s quarterly revenue was up 36.9% compared to the same quarter last year. On average, analysts expect that Ambac Financial Group, Inc. will post $1.63 EPS for the current year.
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AMBC has been the topic of a number of recent analyst reports. MKM Partners reissued a “neutral” rating and set a $21.00 price target (up previously from $17.00) on shares of Ambac Financial Group in a research report on Tuesday, July 25th. BTIG Research reissued a “buy” rating and set a $26.00 price target on shares of Ambac Financial Group in a research report on Saturday, July 22nd.
In related news, CEO Claude Leblanc purchased 15,000 shares of the firm’s stock in a transaction dated Wednesday, October 4th. The stock was bought at an average price of $16.64 per share, for a total transaction of $249,600.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.00% of the company’s stock.
Ambac Financial Group 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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