Charles Schwab Investment Management Inc. Sells 126,362 Shares of Ambac Financial Group, Inc. $AMBC

Key Points

• Charles Schwab Investment Management Inc. reduced its stake in Ambac Financial Group by 25.0%, selling 126,362 shares, and now holds approximately 0.74% of the company valued at $3.31 million.
• CEO Claude Leblanc purchased 25,000 shares of Ambac Financial Group at an average cost of $7.03 per share, increasing his ownership by 4.32%.
• A recent earnings report showed Ambac Financial Group had a negative net margin of 215.40% and reported earnings of ($0.22) per share, beating expectations by $0.02.

Charles Schwab Investment Management Inc. trimmed its holdings in Ambac Financial Group, Inc. (NYSE:AMBC - Free Report) by 25.0% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 378,764 shares of the company's stock after selling 126,362 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.74% of Ambac Financial Group worth $3,314,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in AMBC. GAMMA Investing LLC raised its position in Ambac Financial Group by 191.9% in the 1st quarter. GAMMA Investing LLC now owns 4,463 shares of the company's stock worth $39,000 after purchasing an additional 2,934 shares during the period. Point72 Asset Management L.P. purchased a new position in shares of Ambac Financial Group in the fourth quarter worth about $92,000. Aquatic Capital Management LLC purchased a new position in shares of Ambac Financial Group in the fourth quarter worth about $105,000. Envestnet Portfolio Solutions Inc. bought a new stake in shares of Ambac Financial Group in the 1st quarter valued at about $110,000. Finally, First Citizens Bank & Trust Co. purchased a new stake in Ambac Financial Group during the 1st quarter valued at about $123,000. Institutional investors own 84.49% of the company's stock.

Wall Street Analyst Weigh In

Separately, Truist Financial assumed coverage on Ambac Financial Group in a research note on Tuesday, July 15th. They issued a "buy" rating and a $10.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $12.50.

Ambac Financial Group Trading Up 0.7%

Shares of AMBC stock traded up $0.07 during midday trading on Wednesday, reaching $9.00. 407,855 shares of the stock were exchanged, compared to its average volume of 997,259. Ambac Financial Group, Inc. has a 1 year low of $5.99 and a 1 year high of $13.64. The firm has a market cap of $417.37 million, a PE ratio of -0.66 and a beta of 0.96. The company's 50 day moving average is $8.06 and its two-hundred day moving average is $8.12.

Ambac Financial Group (NYSE:AMBC - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported ($0.22) earnings per share for the quarter, beating the consensus estimate of ($0.24) by $0.02. The company had revenue of $16.20 million for the quarter, compared to analyst estimates of $55.59 million. Ambac Financial Group had a negative return on equity of 3.50% and a negative net margin of 215.40%. As a group, equities analysts expect that Ambac Financial Group, Inc. will post 0.6 EPS for the current fiscal year.

Insider Activity at Ambac Financial Group

In other Ambac Financial Group news, CEO Claude Leblanc bought 25,000 shares of Ambac Financial Group stock in a transaction dated Monday, August 11th. The shares were purchased at an average cost of $7.03 per share, with a total value of $175,750.00. Following the transaction, the chief executive officer directly owned 603,291 shares of the company's stock, valued at $4,241,135.73. This represents a 4.32% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 6.20% of the company's stock.

About Ambac Financial Group

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.