Rhumbline Advisers Has $1.69 Million Holdings in Ambac Financial Group, Inc. (NYSE:AMBC)

Rhumbline Advisers reduced its position in Ambac Financial Group, Inc. (NYSE:AMBC) by 1.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 131,878 shares of the company’s stock after selling 2,571 shares during the period. Rhumbline Advisers’ holdings in Ambac Financial Group were worth $1,691,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the stock. Dimensional Fund Advisors LP increased its holdings in shares of Ambac Financial Group by 2.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,603,679 shares of the company’s stock valued at $42,908,000 after acquiring an additional 65,733 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Ambac Financial Group by 1.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 649,577 shares of the company’s stock valued at $10,705,000 after acquiring an additional 9,493 shares during the last quarter. Gendell Jeffrey L increased its holdings in shares of Ambac Financial Group by 118.0% during the 1st quarter. Gendell Jeffrey L now owns 434,313 shares of the company’s stock valued at $6,788,000 after acquiring an additional 235,058 shares during the last quarter. Empowered Funds LLC increased its holdings in shares of Ambac Financial Group by 8.8% during the 1st quarter. Empowered Funds LLC now owns 154,084 shares of the company’s stock valued at $2,408,000 after acquiring an additional 12,457 shares during the last quarter. Finally, Assetmark Inc. increased its holdings in shares of Ambac Financial Group by 100.3% during the 4th quarter. Assetmark Inc. now owns 91,123 shares of the company’s stock valued at $1,502,000 after acquiring an additional 45,630 shares during the last quarter. Institutional investors and hedge funds own 84.49% of the company’s stock.

Ambac Financial Group Stock Performance

AMBC opened at $11.37 on Friday. The firm has a market capitalization of $514.21 million, a P/E ratio of 8.73 and a beta of 1.24. The stock’s 50 day moving average price is $11.66 and its two-hundred day moving average price is $13.80. 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.

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

Wall Street Analyst Weigh In

A number of research firms have issued reports on AMBC. Roth Mkm raised Ambac Financial Group from a “neutral” rating to a “buy” rating and raised their target price for the company from $13.00 to $15.00 in a report on Wednesday. Roth Capital raised Ambac Financial Group from a “hold” rating to a “strong-buy” rating in a report on Wednesday. Finally, StockNews.com lowered Ambac Financial Group from a “hold” rating to a “sell” rating in a report on Wednesday, August 14th.

Insiders Place Their Bets

In other news, CFO David Trick acquired 3,700 shares of Ambac Financial Group stock in a transaction on Wednesday, August 7th. The stock was bought at an average price of $10.76 per share, for a total transaction of $39,812.00. Following the transaction, the chief financial officer now owns 156,082 shares of the company’s stock, valued at $1,679,442.32. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CFO David Trick bought 3,700 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The stock was acquired at an average price of $10.76 per share, for a total transaction of $39,812.00. Following the transaction, 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Stephen Michael Ksenak bought 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The shares were bought at an average price of $11.00 per share, with a total value of $55,000.00. Following the transaction, the general counsel now directly owns 116,609 shares in the company, valued at $1,282,699. The disclosure for this purchase can be found here. In the last quarter, insiders bought 34,800 shares of company stock worth $377,016. 5.00% of the stock is currently owned by company insiders.

Ambac Financial Group 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.