Franklin Resources Inc. Has $300,000 Position in Ambac Financial Group, Inc. (NYSE:AMBC)

Franklin Resources Inc. cut its position in Ambac Financial Group, Inc. (NYSE:AMBC) by 51.3% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 25,849 shares of the company’s stock after selling 27,230 shares during the period. Franklin Resources Inc.’s holdings in Ambac Financial Group were worth $300,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Marshall Wace LLP lifted its stake in Ambac Financial Group by 397.4% in the second quarter. Marshall Wace LLP now owns 345,715 shares of the company’s stock valued at $4,432,000 after buying an additional 276,210 shares in the last quarter. Western Standard LLC acquired a new stake in shares of Ambac Financial Group during the third quarter worth $3,094,000. American Century Companies Inc. lifted its position in Ambac Financial Group by 19.0% in the 2nd quarter. American Century Companies Inc. now owns 797,096 shares of the company’s stock valued at $10,219,000 after acquiring an additional 127,145 shares in the last quarter. Hotchkis & Wiley Capital Management LLC boosted its stake in Ambac Financial Group by 19.9% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 744,750 shares of the company’s stock worth $8,349,000 after purchasing an additional 123,360 shares during the period. Finally, Deerfield Management Company L.P. Series C acquired a new stake in shares of Ambac Financial Group in the 2nd quarter valued at about $1,149,000. 84.49% of the stock is owned by institutional investors.

Ambac Financial Group Trading Up 1.9 %

Ambac Financial Group stock opened at $12.65 on Thursday. The company has a market cap of $600.15 million, a price-to-earnings ratio of -27.50 and a beta of 1.25. The firm has a 50-day moving average of $12.30 and a 200-day moving average of $11.94. The company has a debt-to-equity ratio of 2.10, a current ratio of 0.58 and a quick ratio of 0.58. Ambac Financial Group, Inc. has a one year low of $10.12 and a one year high of $18.45.

Wall Street Analysts Forecast Growth

AMBC has been the subject of several recent research reports. Roth Mkm raised Ambac Financial Group from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $13.00 to $15.00 in a research report on Wednesday, September 18th. Roth Capital raised Ambac Financial Group from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, September 18th.

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.