American Century Companies Inc. Acquires 166,558 Shares of Ambac Financial Group, Inc. (NYSE:AMBC)

American Century Companies Inc. raised its holdings in shares of Ambac Financial Group, Inc. (NYSE:AMBC) by 139.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 286,122 shares of the company’s stock after acquiring an additional 166,558 shares during the period. American Century Companies Inc. owned about 0.63% of Ambac Financial Group worth $4,429,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of AMBC. Point72 Hong Kong Ltd bought a new position in Ambac Financial Group during the first quarter valued at approximately $26,000. Gyon Technologies Capital Management LP bought a new position in shares of Ambac Financial Group in the fourth quarter worth approximately $28,000. Dorsey Wright & Associates bought a new position in shares of Ambac Financial Group in the fourth quarter worth approximately $29,000. Robeco Institutional Asset Management B.V. bought a new position in shares of Ambac Financial Group in the first quarter worth approximately $41,000. Finally, Envestnet Asset Management Inc. bought a new position in shares of Ambac Financial Group in the first quarter worth approximately $45,000. 81.68% of the stock is currently owned by institutional investors.

Ambac Financial Group Stock Performance

Shares of AMBC stock opened at $12.88 on Thursday. The stock has a fifty day moving average of $13.72 and a 200 day moving average of $14.38. Ambac Financial Group, Inc. has a 52 week low of $12.03 and a 52 week high of $17.75. The firm has a market capitalization of $583.46 million, a price-to-earnings ratio of 1.26 and a beta of 1.14. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 2.65.

Ambac Financial Group (NYSE:AMBC) last announced its quarterly earnings results on Tuesday, August 8th. The company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.13. Ambac Financial Group had a return on equity of 41.52% and a net margin of 111.98%. The company had revenue of $62.00 million during the quarter, compared to analyst estimates of $48.80 million. During the same quarter last year, the firm posted $0.28 earnings per share. As a group, research analysts expect that Ambac Financial Group, Inc. will post -0.4 earnings per share for the current year.

Analyst Upgrades and Downgrades

AMBC has been the topic of several recent analyst reports. StockNews.com upgraded shares of Ambac Financial Group from a “sell” rating to a “hold” rating in a report on Friday, September 1st. Compass Point upgraded shares of Ambac Financial Group from a “neutral” rating to a “buy” rating and set a $18.00 target price on the stock in a report on Tuesday, August 8th.

Insider Buying and Selling

In other news, CEO Claude Leblanc acquired 2,500 shares of the stock in a transaction on Friday, September 1st. The stock was acquired at an average price of $13.29 per share, with a total value of $33,225.00. Following the completion of the transaction, the chief executive officer now owns 502,416 shares of the company’s stock, valued at approximately $6,677,108.64. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. 3.40% of the stock is currently owned by insiders.

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.