Northern Trust Corp Boosts Stock Holdings in Ambac Financial Group, Inc. (NYSE:AMBC)

Northern Trust Corp grew its holdings in shares of Ambac Financial Group, Inc. (NYSE:AMBC - Free Report) by 13.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 536,486 shares of the company's stock after buying an additional 63,430 shares during the quarter. Northern Trust Corp owned 1.13% of Ambac Financial Group worth $6,787,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Barclays PLC raised its holdings in Ambac Financial Group by 30.9% in the third quarter. Barclays PLC now owns 376,102 shares of the company's stock valued at $4,216,000 after acquiring an additional 88,863 shares in the last quarter. JPMorgan Chase & Co. grew its position in Ambac Financial Group by 56.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 254,072 shares of the company's stock valued at $2,848,000 after buying an additional 92,100 shares in the last quarter. Exchange Traded Concepts LLC increased its position in shares of Ambac Financial Group by 4.3% during the 4th quarter. Exchange Traded Concepts LLC now owns 164,474 shares of the company's stock valued at $2,081,000 after purchasing an additional 6,760 shares during the period. Empowered Funds LLC raised its holdings in shares of Ambac Financial Group by 5.1% in the 4th quarter. Empowered Funds LLC now owns 181,633 shares of the company's stock worth $2,298,000 after purchasing an additional 8,784 shares in the last quarter. Finally, Rhumbline Advisers grew its holdings in shares of Ambac Financial Group by 6.4% in the 4th quarter. Rhumbline Advisers now owns 140,999 shares of the company's stock worth $1,784,000 after acquiring an additional 8,495 shares during the last quarter. Hedge funds and other institutional investors own 84.49% of the company's stock.

Insider Activity

In other news, Director Jeffrey Scott Stein acquired 15,000 shares of the stock in a transaction dated Wednesday, May 14th. The shares were acquired at an average cost of $6.46 per share, for a total transaction of $96,900.00. Following the completion of the transaction, the director now owns 50,000 shares in the company, valued at approximately $323,000. This trade represents a 42.86% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 6.20% of the stock is currently owned by insiders.

Ambac Financial Group Stock Performance

Shares of AMBC opened at $7.99 on Tuesday. The company has a 50-day moving average of $7.82 and a two-hundred day moving average of $10.35. The stock has a market cap of $370.95 million, a price-to-earnings ratio of -17.37 and a beta of 0.86. Ambac Financial Group, Inc. has a one year low of $5.99 and a one year high of $18.40. The company has a debt-to-equity ratio of 2.10, a current ratio of 0.58 and a quick ratio of 0.58.

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 for the quarter, missing the consensus estimate of ($0.07) by ($0.06). The firm had revenue of $15.68 million during the quarter, compared to analyst estimates of $33.00 million. Ambac Financial Group had a positive return on equity of 2.51% and a negative net margin of 6.28%. On average, equities research analysts expect that Ambac Financial Group, Inc. will post 0.6 earnings per share for the current year.

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.

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