Russell Investments Group Ltd. boosted its stake in shares of Ambac Financial Group, Inc. (NASDAQ:AMBC) by 14.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 143,487 shares of the financial services provider’s stock after purchasing an additional 17,752 shares during the period. Russell Investments Group Ltd. owned about 0.32% of Ambac Financial Group worth $2,477,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of the stock. State Street Corp lifted its position in Ambac Financial Group by 3.4% during the second quarter. State Street Corp now owns 898,162 shares of the financial services provider’s stock valued at $15,583,000 after purchasing an additional 29,767 shares during the period. Northern Trust Corp lifted its position in Ambac Financial Group by 1.8% during the second quarter. Northern Trust Corp now owns 557,464 shares of the financial services provider’s stock valued at $9,671,000 after purchasing an additional 9,897 shares during the period. Parametric Portfolio Associates LLC lifted its position in Ambac Financial Group by 16.3% during the second quarter. Parametric Portfolio Associates LLC now owns 254,984 shares of the financial services provider’s stock valued at $4,424,000 after purchasing an additional 35,713 shares during the period. Harbor Advisors LLC lifted its position in Ambac Financial Group by 4.3% during the third quarter. Harbor Advisors LLC now owns 243,117 shares of the financial services provider’s stock valued at $4,196,000 after purchasing an additional 10,000 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in Ambac Financial Group by 1.3% during the second quarter. Bank of New York Mellon Corp now owns 219,229 shares of the financial services provider’s stock valued at $3,803,000 after purchasing an additional 2,821 shares during the period. Institutional investors own 70.51% of the company’s stock.
Separately, MKM Partners reiterated a “hold” rating on shares of Ambac Financial Group in a research report on Thursday, October 5th.
In other Ambac Financial Group news, Director C James Prieur purchased 10,000 shares of the firm’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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.61% of the stock is currently owned by company insiders.
Ambac Financial Group, Inc. (NASDAQ AMBC) traded up $0.34 on Friday, reaching $16.07. 713,517 shares of the company’s stock traded hands, compared to its average volume of 493,933. 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, Inc. has a fifty-two week low of $13.17 and a fifty-two week high of $23.55. The company has a market capitalization of $717.68, a P/E ratio of -6.51 and a beta of 1.88.
Ambac Financial Group (NASDAQ:AMBC) last released its quarterly earnings results on Wednesday, November 8th. The financial services provider reported ($3.30) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.92 by ($4.22). Ambac Financial Group had a negative return on equity of 9.68% and a negative net margin of 60.33%. The business had revenue of $132.97 million during the quarter, compared to the consensus estimate of $125.84 million. During the same quarter in the previous year, the business posted $3.23 earnings per share. The firm’s revenue was down 8.3% on a year-over-year basis.
About Ambac Financial Group
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.
Receive News & Ratings for Ambac Financial Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ambac Financial Group and related companies with MarketBeat.com's FREE daily email newsletter.