Federated Hermes Inc. Sells 5,061 Shares of Ambac Financial Group, Inc. (NYSE:AMBC)

Federated Hermes Inc. cut its stake in Ambac Financial Group, Inc. (NYSE:AMBC) by 60.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,317 shares of the company’s stock after selling 5,061 shares during the period. Federated Hermes Inc.’s holdings in Ambac Financial Group were worth $43,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Texas Permanent School Fund Corp increased its position in shares of Ambac Financial Group by 2.0% during the first quarter. Texas Permanent School Fund Corp now owns 39,554 shares of the company’s stock worth $618,000 after acquiring an additional 770 shares during the period. Illinois Municipal Retirement Fund increased its holdings in Ambac Financial Group by 4.9% during the 1st quarter. Illinois Municipal Retirement Fund now owns 27,952 shares of the company’s stock worth $437,000 after purchasing an additional 1,307 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position 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 in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Ambac Financial Group by 5.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 38,405 shares of the company’s stock worth $601,000 after buying an additional 1,861 shares during the period. Finally, State Board of Administration of Florida Retirement System grew its position in shares of 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 worth $248,000 after buying an additional 3,410 shares in the last quarter. Hedge funds and other institutional investors own 84.49% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on AMBC shares. StockNews.com lowered shares of Ambac Financial Group from a “hold” rating to a “sell” rating in a research note on Wednesday, August 14th. Roth Mkm raised shares of Ambac Financial Group from a “neutral” rating to a “buy” rating and upped their price target for the stock from $13.00 to $15.00 in a research report on Wednesday, September 18th. Finally, Roth Capital raised shares of Ambac Financial Group from a “hold” rating to a “strong-buy” rating in a report on Wednesday, September 18th.

Ambac Financial Group Price Performance

Shares of AMBC stock opened at $11.18 on Thursday. The stock’s 50-day moving average is $11.54 and its 200 day moving average is $13.69. Ambac Financial Group, Inc. has a 1-year low of $10.12 and a 1-year high of $18.45. The company has a debt-to-equity ratio of 2.37, a current ratio of 0.62 and a quick ratio of 0.62. The company has a market cap of $530.38 million, a P/E ratio of 8.53 and a beta of 1.24.

Ambac Financial Group (NYSE:AMBC) last released its quarterly earnings results on Monday, August 5th. The company reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.01). The firm had revenue of $105.00 million during the quarter. Ambac Financial Group had a net margin of 19.27% and a return on equity of 10.79%. During the same quarter in the prior year, the company earned $0.07 EPS. Research analysts predict that Ambac Financial Group, Inc. will post 1.3 earnings per share for the current fiscal year.

Insider Buying and Selling at Ambac Financial Group

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

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.