State Board of Administration of Florida Retirement System Reduces Position in Ambac Financial Group, Inc. (NYSE:AMBC)

State Board of Administration of Florida Retirement System lessened its holdings in shares of Ambac Financial Group, Inc. (NYSE:AMBC – Get Rating) by 23.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,040 shares of the company’s stock after selling 4,910 shares during the period. State Board of Administration of Florida Retirement System’s holdings in Ambac Financial Group were worth $280,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Los Angeles Capital Management LLC purchased a new stake in Ambac Financial Group during the 4th quarter valued at about $1,962,000. SG Americas Securities LLC purchased a new stake in Ambac Financial Group during the 4th quarter valued at about $841,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Ambac Financial Group by 19.9% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,189 shares of the company’s stock valued at $143,000 after acquiring an additional 1,359 shares in the last quarter. Janney Montgomery Scott LLC acquired a new position in Ambac Financial Group in the 4th quarter valued at about $872,000. Finally, Versor Investments LP acquired a new position in Ambac Financial Group in the 4th quarter valued at about $431,000. Hedge funds and other institutional investors own 69.84% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on AMBC. StockNews.com lowered shares of Ambac Financial Group from a “hold” rating to a “sell” rating in a report on Monday, May 15th. Roth Capital reiterated a “neutral” rating on shares of Ambac Financial Group in a report on Wednesday, March 1st.

Ambac Financial Group Stock Performance

Shares of AMBC stock opened at $14.51 on Monday. The firm’s 50 day moving average price is $15.07 and its 200-day moving average price is $15.89. The company has a debt-to-equity ratio of 2.87, a quick ratio of 0.80 and a current ratio of 0.80. Ambac Financial Group, Inc. has a one year low of $9.44 and a one year high of $17.75. The firm has a market cap of $657.62 million, a P/E ratio of 1.36 and a beta of 1.15.

Ambac Financial Group (NYSE:AMBC – Get Rating) last issued its quarterly earnings data on Wednesday, May 10th. The company reported ($0.30) EPS for the quarter, topping the consensus estimate of ($0.37) by $0.07. Ambac Financial Group had a net margin of 103.61% and a return on equity of 52.87%. The firm had revenue of $58.00 million for the quarter. During the same quarter in the prior year, the company posted $0.30 earnings per share. As a group, equities research analysts predict that Ambac Financial Group, Inc. will post -1.25 EPS for the current year.

Ambac Financial Group Profile

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Ambac Financial Group, Inc is a holding company, which engages in the provision of financial guarantee insurance policies through its subsidiary, Ambac Assurance Corp. Its services include credit, insurance, asset management and other financial services. The company was founded on April 29, 1991 and is headquartered in New York, NY.