Hsbc Holdings PLC Has $1.88 Million Stake in Ambac Financial Group, Inc. $AMBC

Key Points

• Hsbc Holdings PLC has reduced its stake in Ambac Financial Group by 31%, now holding approximately $1.88 million worth of shares after selling 96,847 shares in the first quarter.
• CEO Claude Leblanc purchased 25,000 shares of Ambac Financial Group, increasing his ownership by 4.32% to a total of 603,291 shares valued at approximately $4.24 million.
• Truist Financial has set a buy rating with a price target of $10.00 for Ambac Financial Group, which currently holds an average rating of "Buy" with a consensus price target of $12.50.

Hsbc Holdings PLC lowered its stake in shares of Ambac Financial Group, Inc. (NYSE:AMBC - Free Report) by 31.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 215,435 shares of the company's stock after selling 96,847 shares during the quarter. Hsbc Holdings PLC owned about 0.42% of Ambac Financial Group worth $1,879,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Quantbot Technologies LP grew its position in Ambac Financial Group by 148.1% during the first quarter. Quantbot Technologies LP now owns 100,308 shares of the company's stock worth $878,000 after buying an additional 59,874 shares in the last quarter. Fox Run Management L.L.C. grew its position in Ambac Financial Group by 68.4% during the first quarter. Fox Run Management L.L.C. now owns 45,171 shares of the company's stock worth $395,000 after buying an additional 18,354 shares in the last quarter. KLCM Advisors Inc. grew its position in Ambac Financial Group by 71.4% during the first quarter. KLCM Advisors Inc. now owns 24,000 shares of the company's stock worth $210,000 after buying an additional 10,000 shares in the last quarter. Nuveen LLC acquired a new stake in Ambac Financial Group during the first quarter worth approximately $2,473,000. Finally, Deutsche Bank AG grew its position in Ambac Financial Group by 7.1% during the first quarter. Deutsche Bank AG now owns 723,250 shares of the company's stock worth $6,328,000 after buying an additional 48,117 shares in the last quarter. Institutional investors and hedge funds own 84.49% of the company's stock.

Insiders Place Their Bets

In other Ambac Financial Group news, CEO Claude Leblanc bought 25,000 shares of the business's stock in a transaction on Monday, August 11th. The stock was purchased at an average cost of $7.03 per share, for a total transaction of $175,750.00. Following the completion of the purchase, the chief executive officer directly owned 603,291 shares of the company's stock, valued at approximately $4,241,135.73. This trade represents a 4.32% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 6.20% of the stock is owned by insiders.

Analysts Set New Price Targets

Separately, Truist Financial assumed coverage on Ambac Financial Group in a research report on Tuesday, July 15th. They set a "buy" rating and a $10.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the stock. Based on data from MarketBeat.com, Ambac Financial Group presently has an average rating of "Buy" and a consensus price target of $12.50.

Ambac Financial Group Price Performance

NYSE AMBC opened at $8.85 on Thursday. The business has a fifty day moving average price of $7.89 and a two-hundred day moving average price of $8.22. Ambac Financial Group, Inc. has a fifty-two week low of $5.99 and a fifty-two week high of $13.64. The stock has a market capitalization of $410.64 million, a PE ratio of -0.65 and a beta of 0.92.

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

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