Allspring Global Investments Holdings LLC Cuts Stock Holdings in Ambac Financial Group, Inc. (NYSE:AMBC)

Allspring Global Investments Holdings LLC lowered its position in Ambac Financial Group, Inc. (NYSE:AMBC) by 65.3% in the 4th quarter, HoldingsChannel.com reports. The firm owned 5,397 shares of the company’s stock after selling 10,148 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Ambac Financial Group were worth $89,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Gladius Capital Management LP grew its position in Ambac Financial Group by 71.3% in the 3rd quarter. Gladius Capital Management LP now owns 2,528 shares of the company’s stock worth $30,000 after purchasing an additional 1,052 shares in the last quarter. Clearstead Advisors LLC purchased a new stake in shares of Ambac Financial Group during the third quarter valued at approximately $72,000. Federated Hermes Inc. lifted its holdings in Ambac Financial Group by 26.9% during the third quarter. Federated Hermes Inc. now owns 6,171 shares of the company’s stock worth $74,000 after acquiring an additional 1,309 shares during the period. Sherbrooke Park Advisers LLC purchased a new position in Ambac Financial Group in the third quarter worth $122,000. Finally, SG Americas Securities LLC bought a new position in Ambac Financial Group in the 3rd quarter valued at $182,000. 84.49% of the stock is owned by institutional investors.

Ambac Financial Group Stock Up 1.1 %

AMBC opened at $14.75 on Tuesday. The company’s 50-day moving average price is $15.29 and its two-hundred day moving average price is $15.05. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 2.46. Ambac Financial Group, Inc. has a twelve month low of $11.26 and a twelve month high of $17.80. The stock has a market cap of $667.07 million, a price-to-earnings ratio of 98.33 and a beta of 1.30.

Ambac Financial Group (NYSE:AMBC) last posted its quarterly earnings data on Wednesday, February 28th. The company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.03 by $0.29. Ambac Financial Group had a return on equity of 6.99% and a net margin of 1.48%. The business had revenue of $76.00 million for the quarter. During the same quarter in the previous year, the company posted $4.18 EPS. As a group, equities analysts expect that Ambac Financial Group, Inc. will post 0.45 earnings per share for the current year.

Analyst Ratings Changes

Separately, StockNews.com cut Ambac Financial Group from a “hold” rating to a “sell” rating in a research note on Friday.

About Ambac Financial Group

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.