Bank of America Corp DE Increases Position in Ambac Financial Group, Inc. (NYSE:AMBC)

Bank of America Corp DE increased its position in Ambac Financial Group, Inc. (NYSE:AMBC - Free Report) by 166.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 194,061 shares of the company's stock after purchasing an additional 121,228 shares during the quarter. Bank of America Corp DE owned approximately 0.41% of Ambac Financial Group worth $2,455,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the company. Barclays PLC grew its holdings in shares of Ambac Financial Group by 30.9% in the third quarter. Barclays PLC now owns 376,102 shares of the company's stock worth $4,216,000 after acquiring an additional 88,863 shares during the period. American Century Companies Inc. lifted its holdings in shares of Ambac Financial Group by 3.9% in the 4th quarter. American Century Companies Inc. now owns 929,345 shares of the company's stock worth $11,756,000 after acquiring an additional 34,861 shares during the last quarter. VELA Investment Management LLC purchased a new stake in Ambac Financial Group in the 4th quarter worth about $792,000. Principal Financial Group Inc. boosted its position in shares of Ambac Financial Group by 2.9% during the fourth quarter. Principal Financial Group Inc. now owns 229,954 shares of the company's stock valued at $2,909,000 after buying an additional 6,589 shares during the period. Finally, Norges Bank bought a new position in shares of Ambac Financial Group during the fourth quarter valued at approximately $3,328,000. Institutional investors own 84.49% of the company's stock.

Ambac Financial Group Trading Down 1.2%

Shares of AMBC stock traded down $0.09 on Wednesday, reaching $7.70. 376,630 shares of the company's stock were exchanged, compared to its average volume of 756,294. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 2.10. Ambac Financial Group, Inc. has a 52 week low of $5.99 and a 52 week high of $18.40. The company's fifty day simple moving average is $7.64 and its 200 day simple moving average is $10.06. The stock has a market capitalization of $357.49 million, a PE ratio of -16.74 and a beta of 0.86.

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

Insider Buying and Selling

In other Ambac Financial Group news, Director Jeffrey Scott Stein bought 15,000 shares of Ambac Financial Group stock in a transaction dated Wednesday, May 14th. The stock was acquired at an average cost of $6.46 per share, with a total value of $96,900.00. Following the purchase, the director now directly owns 50,000 shares in the company, valued at $323,000. This represents a 42.86% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 6.20% 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.