BB&T Securities LLC raised its position in shares of Ambac Financial Group, Inc. (NASDAQ:AMBC) by 27.3% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 21,339 shares of the financial services provider’s stock after buying an additional 4,571 shares during the quarter. BB&T Securities LLC’s holdings in Ambac Financial Group were worth $368,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in AMBC. Public Employees Retirement System of Ohio lifted its position in shares of Ambac Financial Group by 5.7% during 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 buying an additional 330 shares during the last quarter. Macquarie Group Ltd. acquired a new position in shares of Ambac Financial Group during the third quarter valued at about $190,000. BNP Paribas Arbitrage SA increased its holdings in shares of Ambac Financial Group by 35.7% during 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 position in shares of Ambac Financial Group during the second quarter valued at about $257,000. Finally, Raymond James Financial Services Advisors Inc. increased its holdings in shares of Ambac Financial Group by 58.7% during 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. 70.57% of the stock is owned by institutional investors and hedge funds.
In related news, Director C James Prieur acquired 10,000 shares of the business’s stock in a transaction dated Monday, November 13th. The shares were purchased at an average price of $14.02 per share, for a total transaction of $140,200.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Claude Leblanc acquired 15,000 shares of the business’s stock in a transaction dated Wednesday, October 4th. The shares were bought at an average price of $16.64 per share, for a total transaction of $249,600.00. The disclosure for this purchase can be found here. Corporate insiders own 0.61% of the company’s stock.
Ambac Financial Group (NASDAQ:AMBC) last posted its quarterly earnings data on Wednesday, November 8th. The financial services provider reported ($3.30) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.92 by ($4.22). Ambac Financial Group had a negative net margin of 60.33% and a negative return on equity of 9.68%. The company had revenue of $132.97 million for the quarter, compared to analyst estimates of $125.84 million. During the same quarter last year, the company earned $3.23 EPS. The business’s revenue was down 8.3% compared to the same quarter last year.
Separately, MKM Partners restated a “hold” rating on shares of Ambac Financial Group in a report on Thursday, October 5th.
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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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