Amalgamated Bank Has $171,000 Stock Holdings in Ambac Financial Group, Inc. (NYSE:AMBC)

Amalgamated Bank lowered its holdings in shares of Ambac Financial Group, Inc. (NYSE:AMBC) by 9.4% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 13,329 shares of the company’s stock after selling 1,377 shares during the period. Amalgamated Bank’s holdings in Ambac Financial Group were worth $171,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. nVerses Capital LLC raised its holdings in shares of Ambac Financial Group by 525.0% during the 2nd quarter. nVerses Capital LLC now owns 5,000 shares of the company’s stock worth $64,000 after buying an additional 4,200 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Ambac Financial Group by 20.0% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,826 shares of the company’s stock worth $126,000 after buying an additional 1,637 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of Ambac Financial Group by 95.3% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 10,542 shares of the company’s stock worth $165,000 after buying an additional 5,145 shares in the last quarter. Versor Investments LP acquired a new position in shares of Ambac Financial Group during the 2nd quarter worth $218,000. Finally, State Board of Administration of Florida Retirement System raised its holdings in shares of Ambac Financial Group by 27.0% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 16,040 shares of the company’s stock worth $248,000 after buying an additional 3,410 shares in the last quarter. Institutional investors and hedge funds own 84.49% of the company’s stock.

Insider Activity at Ambac Financial Group

In other Ambac Financial Group news, Director Jeffrey Scott Stein bought 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The shares were bought at an average price of $10.82 per share, for a total transaction of $270,500.00. Following the transaction, the director now directly owns 35,000 shares in the company, valued at $378,700. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO David Trick purchased 3,700 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The shares were acquired at an average cost of $10.76 per share, with a total value of $39,812.00. Following the purchase, the chief financial officer now owns 156,082 shares in the company, valued at $1,679,442.32. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jeffrey Scott Stein purchased 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The shares were purchased at an average cost of $10.82 per share, for a total transaction of $270,500.00. Following the completion of the purchase, the director now owns 35,000 shares in the company, valued at approximately $378,700. The disclosure for this purchase can be found here. Insiders have acquired a total of 37,500 shares of company stock worth $407,445 in the last 90 days. Corporate insiders own 5.00% of the company’s stock.

Ambac Financial Group Trading Down 0.2 %

NYSE AMBC opened at $11.21 on Tuesday. The business’s 50-day moving average price is $11.45 and its two-hundred day moving average price is $13.59. Ambac Financial Group, Inc. has a 12 month low of $10.12 and a 12 month high of $18.45. The firm has a market capitalization of $506.97 million, a PE ratio of 8.56 and a beta of 1.24. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 2.37.

Ambac Financial Group (NYSE:AMBC) last released its quarterly earnings results on Monday, August 5th. The company reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.01). Ambac Financial Group had a net margin of 19.27% and a return on equity of 10.79%. The company had revenue of $105.00 million during the quarter. During the same quarter in the previous year, the business earned $0.07 EPS. On average, analysts expect that Ambac Financial Group, Inc. will post 1.3 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on AMBC. StockNews.com lowered Ambac Financial Group from a “hold” rating to a “sell” rating in a research report on Wednesday, August 14th. Roth Capital upgraded Ambac Financial Group from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, September 18th. Finally, Roth Mkm upgraded Ambac Financial Group from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $13.00 to $15.00 in a research report on Wednesday, September 18th.

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.