Ambac Financial Group, Inc. (NYSE:AMBC) Position Boosted by Federated Hermes Inc.

Federated Hermes Inc. raised its holdings in shares of Ambac Financial Group, Inc. (NYSE:AMBC) by 1,133.7% during the 4th quarter, Holdings Channel reports. The fund owned 76,134 shares of the company’s stock after purchasing an additional 69,963 shares during the period. Federated Hermes Inc.’s holdings in Ambac Financial Group were worth $1,255,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in AMBC. Gladius Capital Management LP increased its holdings in shares of Ambac Financial Group by 71.3% during the third quarter. Gladius Capital Management LP now owns 2,528 shares of the company’s stock valued at $30,000 after purchasing an additional 1,052 shares during the period. Clearstead Advisors LLC bought a new position in Ambac Financial Group in the 3rd quarter valued at about $72,000. Sherbrooke Park Advisers LLC acquired a new position in Ambac Financial Group during the 3rd quarter valued at about $122,000. SG Americas Securities LLC bought a new stake in shares of Ambac Financial Group during the 3rd quarter worth about $182,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Ambac Financial Group by 5.3% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,837 shares of the company’s stock worth $239,000 after acquiring an additional 1,002 shares during the period. Institutional investors and hedge funds own 84.49% of the company’s stock.

Analysts Set New Price Targets

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

Ambac Financial Group Trading Up 1.1 %

Shares of AMBC stock opened at $14.75 on Tuesday. The stock has a 50-day simple moving average of $15.29 and a 200 day simple moving average of $15.05. The stock has a market capitalization of $667.07 million, a P/E ratio of 98.33 and a beta of 1.30. Ambac Financial Group, Inc. has a fifty-two week low of $11.26 and a fifty-two week high of $17.80. 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 (NYSE:AMBC) last issued its quarterly earnings results on Wednesday, February 28th. The company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.29. Ambac Financial Group had a net margin of 1.48% and a return on equity of 6.99%. The company had revenue of $76.00 million during the quarter. During the same period in the previous year, the company posted $4.18 earnings per share. On average, sell-side analysts expect that Ambac Financial Group, Inc. will post 0.45 earnings per share for the current fiscal 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.