Ambac Financial Group, Inc. (NYSE:AMBC) Stock Holdings Lessened by Principal Financial Group Inc.

Principal Financial Group Inc. lowered its stake in Ambac Financial Group, Inc. (NYSE:AMBC) by 5.0% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 222,844 shares of the company’s stock after selling 11,694 shares during the period. Principal Financial Group Inc. owned approximately 0.49% of Ambac Financial Group worth $2,857,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of AMBC. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Ambac Financial Group by 20.0% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,826 shares of the company’s stock valued at $126,000 after purchasing an additional 1,637 shares during the period. Allspring Global Investments Holdings LLC raised its stake in Ambac Financial Group by 95.3% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 10,542 shares of the company’s stock valued at $165,000 after purchasing an additional 5,145 shares during the period. Victory Capital Management Inc. acquired a new stake in Ambac Financial Group during the 4th quarter valued at $165,000. State Board of Administration of Florida Retirement System raised its stake in Ambac Financial Group by 27.0% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 16,040 shares of the company’s stock valued at $248,000 after purchasing an additional 3,410 shares during the period. Finally, BNP Paribas Financial Markets raised its stake in Ambac Financial Group by 55.3% during the 1st quarter. BNP Paribas Financial Markets now owns 23,370 shares of the company’s stock valued at $365,000 after purchasing an additional 8,318 shares during the period. Institutional investors own 84.49% of the company’s stock.

Ambac Financial Group Trading Up 0.4 %

Ambac Financial Group stock opened at $10.66 on Thursday. The company’s fifty day simple moving average is $11.78 and its 200-day simple moving average is $14.01. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 2.37. Ambac Financial Group, Inc. has a 12 month low of $10.12 and a 12 month high of $18.45. The stock has a market cap of $482.10 million, a P/E ratio of 8.14 and a beta of 1.24.

Ambac Financial Group (NYSE:AMBC) last posted its quarterly earnings results on Monday, August 5th. The company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.01). Ambac Financial Group had a net margin of 19.27% and a return on equity of 10.79%. The company had revenue of $105.00 million for the quarter. During the same quarter in the prior year, the company posted $0.07 EPS. As a group, sell-side analysts forecast that Ambac Financial Group, Inc. will post 1.3 EPS for the current fiscal year.

Insider Activity

In related news, CFO David Trick purchased 3,700 shares of the stock in a transaction dated Wednesday, August 7th. The shares were acquired at an average cost of $10.76 per share, for a total transaction of $39,812.00. Following the acquisition, the chief financial officer now directly owns 156,082 shares in the company, valued at approximately $1,679,442.32. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Ambac Financial Group news, CFO David Trick acquired 3,700 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The stock was purchased at an average cost of $10.76 per share, for a total transaction of $39,812.00. Following the completion of the acquisition, the chief financial officer now owns 156,082 shares of the company’s stock, valued at approximately $1,679,442.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jeffrey Scott Stein acquired 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The stock was acquired at an average price of $10.82 per share, with a total value of $270,500.00. Following the completion of the acquisition, the director now directly owns 35,000 shares of the company’s stock, valued at approximately $378,700. The disclosure for this purchase can be found here. Insiders have purchased a total of 34,800 shares of company stock worth $377,016 in the last ninety days. Corporate insiders own 5.00% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded shares of Ambac Financial Group from a “hold” rating to a “sell” rating in a research note on Wednesday, August 14th.

Ambac Financial Group Company Profile

Ambac Financial Group, Inc operates as a financial services holding company. It operates three businesses: Specialty Property and Casualty Insurance, Insurance Distribution, and Legacy Financial Guarantee (LFG) Insurance. The Specialty Property and Casualty Insurance business provides specialty property and casualty program insurance with a focus commercial and personal liability risks.