Wells Fargo & Company MN lifted its position in shares of Ambac Financial Group, Inc. (NASDAQ:AMBC) by 30.2% in the 3rd quarter, Holdings Channel reports. The firm owned 85,388 shares of the financial services provider’s stock after purchasing an additional 19,795 shares during the period. Wells Fargo & Company MN’s holdings in Ambac Financial Group were worth $1,473,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio lifted its position in shares of Ambac Financial Group by 5.7% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 6,093 shares of the financial services provider’s stock worth $106,000 after purchasing an additional 330 shares during the last quarter. Macquarie Group Ltd. purchased a new stake in shares of Ambac Financial Group during the 3rd quarter worth $190,000. Los Angeles Capital Management & Equity Research Inc. purchased a new stake in Ambac Financial Group in the second quarter valued at $257,000. Raymond James Financial Services Advisors Inc. lifted its position 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 during the last quarter. Finally, Nine Chapters Capital Management LLC purchased a new stake in Ambac Financial Group in the third quarter valued at $328,000. 70.51% of the stock is owned by institutional investors and hedge funds.
In related news, Director C James Prieur purchased 10,000 shares of Ambac Financial Group stock in a transaction that occurred on Monday, November 13th. The stock was purchased at an average cost of $14.02 per share, with a total value of $140,200.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.00% of the stock is owned by insiders.
Shares of Ambac Financial Group, Inc. (NASDAQ AMBC) opened at $15.95 on Friday. Ambac Financial Group, Inc. has a 1 year low of $13.17 and a 1 year high of $23.55. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 7.46.
Ambac Financial Group (NASDAQ:AMBC) last announced its quarterly earnings results on Wednesday, November 8th. The financial services provider reported ($3.30) earnings per share for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $125.84 million. During the same period last year, the firm earned $3.23 earnings per share. Ambac Financial Group’s revenue was down 8.3% on a year-over-year basis.
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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