Ambac Financial Group, Inc. (NYSE:AMBC) Holdings Lifted by Bank of America Corp DE

Bank of America Corp DE boosted its position in Ambac Financial Group, Inc. (NYSE:AMBC - Free Report) by 166.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 194,061 shares of the company's stock after buying an additional 121,228 shares during the quarter. Bank of America Corp DE owned 0.41% of Ambac Financial Group worth $2,455,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Wolf Hill Capital Management LP acquired a new stake in shares of Ambac Financial Group in the 4th quarter valued at about $12,650,000. Portolan Capital Management LLC acquired a new stake in shares of Ambac Financial Group in the 4th quarter valued at about $7,456,000. Norges Bank acquired a new stake in shares of Ambac Financial Group in the 4th quarter valued at about $3,328,000. Barclays PLC raised its stake in shares of Ambac Financial Group by 30.9% in the 3rd quarter. Barclays PLC now owns 376,102 shares of the company's stock valued at $4,216,000 after purchasing an additional 88,863 shares in the last quarter. Finally, Northern Trust Corp raised its stake in shares of Ambac Financial Group by 13.4% in the 4th quarter. Northern Trust Corp now owns 536,486 shares of the company's stock valued at $6,787,000 after purchasing an additional 63,430 shares in the last quarter. Institutional investors and hedge funds own 84.49% of the company's stock.

Insider Buying and Selling

In other Ambac Financial Group news, Director Jeffrey Scott Stein acquired 15,000 shares of the company's stock in a transaction that occurred on Wednesday, May 14th. The shares were purchased at an average price of $6.46 per share, for a total transaction of $96,900.00. Following the completion of the purchase, the director now directly owns 50,000 shares in the company, valued at $323,000. The trade was a 42.86% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 6.20% of the stock is owned by company insiders.

Ambac Financial Group Stock Up 0.1%

Shares of Ambac Financial Group stock traded up $0.01 during trading on Thursday, reaching $7.56. The company had a trading volume of 1,763,656 shares, compared to its average volume of 761,380. The company has a market cap of $350.99 million, a price-to-earnings ratio of -16.43 and a beta of 0.86. The firm's fifty day moving average is $7.59 and its 200-day moving average is $10.01. The company has a debt-to-equity ratio of 2.10, a quick ratio of 0.58 and a current ratio of 0.58. Ambac Financial Group, Inc. has a fifty-two week low of $5.99 and a fifty-two week high of $13.88.

Ambac Financial Group (NYSE:AMBC - Get Free Report) last issued its earnings results on Monday, May 12th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.07) by ($0.06). The company had revenue of $15.68 million during the quarter, compared to analyst estimates of $33.00 million. Ambac Financial Group had a negative net margin of 6.28% and a positive return on equity of 2.51%. On average, analysts anticipate that Ambac Financial Group, Inc. will post 0.6 EPS for the current year.

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.