Principal Financial Group Inc. Sells 2,694 Shares of Ambac Financial Group, Inc. (NYSE:AMBC)

Principal Financial Group Inc. reduced its position in shares of Ambac Financial Group, Inc. (NYSE:AMBC) by 1.0% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 272,068 shares of the company’s stock after selling 2,694 shares during the period. Principal Financial Group Inc. owned about 0.60% of Ambac Financial Group worth $4,212,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in AMBC. Millennium Management LLC lifted its holdings in Ambac Financial Group by 1,802.3% during the 4th quarter. Millennium Management LLC now owns 458,086 shares of the company’s stock valued at $7,989,000 after purchasing an additional 434,005 shares during the last quarter. AQR Capital Management LLC bought a new position in shares of Ambac Financial Group in the fourth quarter worth about $6,943,000. UBS Group AG raised its stake in shares of Ambac Financial Group by 3,245.4% in the fourth quarter. UBS Group AG now owns 387,770 shares of the company’s stock worth $6,763,000 after acquiring an additional 376,179 shares during the last quarter. Norges Bank bought a new position in shares of Ambac Financial Group in the fourth quarter worth about $5,640,000. Finally, Vanguard Group Inc. raised its stake in shares of Ambac Financial Group by 5.4% in the third quarter. Vanguard Group Inc. now owns 4,752,430 shares of the company’s stock worth $60,593,000 after acquiring an additional 241,449 shares during the last quarter. 81.68% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on AMBC. StockNews.com raised shares of Ambac Financial Group from a “sell” rating to a “hold” rating in a research note on Friday. Compass Point raised shares of Ambac Financial Group from a “neutral” rating to a “buy” rating and set a $18.00 target price for the company in a research note on Tuesday, August 8th.

Ambac Financial Group Stock Up 2.2 %

Shares of NYSE:AMBC opened at $13.16 on Friday. Ambac Financial Group, Inc. has a one year low of $12.03 and a one year high of $17.75. The company has a 50 day moving average of $13.77 and a 200-day moving average of $14.41. The company has a debt-to-equity ratio of 2.65, a current ratio of 0.74 and a quick ratio of 0.74. The stock has a market cap of $596.15 million, a price-to-earnings ratio of 1.28 and a beta of 1.13.

Ambac Financial Group (NYSE:AMBC) last issued its quarterly earnings results on Tuesday, August 8th. The company reported $0.07 EPS for the quarter, topping the consensus estimate of ($0.06) by $0.13. Ambac Financial Group had a net margin of 111.98% and a return on equity of 41.52%. The company had revenue of $62.00 million during the quarter, compared to analysts’ expectations of $48.80 million. During the same quarter in the previous year, the company earned $0.28 EPS. On average, sell-side analysts forecast that Ambac Financial Group, Inc. will post -0.4 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.