Charles Schwab Investment Management Inc. Has $6.20 Million Stock Position in Ambac Financial Group, Inc. (NYSE:AMBC)

Charles Schwab Investment Management Inc. reduced its stake in Ambac Financial Group, Inc. (NYSE:AMBC) by 7.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 553,399 shares of the company’s stock after selling 45,669 shares during the period. Charles Schwab Investment Management Inc. owned approximately 1.17% of Ambac Financial Group worth $6,204,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Ambac Financial Group by 20.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,826 shares of the company’s stock valued at $126,000 after purchasing an additional 1,637 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Ambac Financial Group by 5.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 38,405 shares of the company’s stock worth $601,000 after purchasing an additional 1,861 shares in the last quarter. Quarry LP lifted its holdings in shares of Ambac Financial Group by 830.7% in the second quarter. Quarry LP now owns 2,364 shares of the company’s stock valued at $30,000 after purchasing an additional 2,110 shares in the last quarter. Caxton Associates LP boosted its position in shares of Ambac Financial Group by 10.9% during the second quarter. Caxton Associates LP now owns 25,277 shares of the company’s stock worth $324,000 after buying an additional 2,485 shares during the period. Finally, nVerses Capital LLC raised its position in Ambac Financial Group by 525.0% in the 2nd quarter. nVerses Capital LLC now owns 5,000 shares of the company’s stock valued at $64,000 after buying an additional 4,200 shares during the last quarter. 84.49% of the stock is owned by institutional investors and hedge funds.

Ambac Financial Group Stock Performance

Shares of AMBC stock opened at $13.22 on Thursday. Ambac Financial Group, Inc. has a 12 month low of $10.12 and a 12 month high of $18.45. The stock has a market capitalization of $627.20 million, a P/E ratio of -28.74 and a beta of 1.25. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 2.10. The firm’s 50 day moving average is $11.95 and its 200 day moving average is $12.20.

Insider Activity at Ambac Financial Group

In other Ambac Financial Group news, Director Kristi Ann Matus bought 2,700 shares of the business’s stock in a transaction that occurred on Thursday, September 26th. The shares were bought at an average cost of $11.27 per share, with a total value of $30,429.00. Following the completion of the purchase, the director now directly owns 2,700 shares of the company’s stock, valued at $30,429. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 5.00% of the stock is owned by insiders.

Wall Street Analyst Weigh In

AMBC has been the subject of several recent research reports. StockNews.com downgraded Ambac Financial Group from a “hold” rating to a “sell” rating in a research note on Wednesday, August 14th. Roth Capital raised shares of Ambac Financial Group from a “hold” rating to a “strong-buy” rating in a report on Wednesday, September 18th. Finally, Roth Mkm raised Ambac Financial Group from a “neutral” rating to a “buy” rating and raised their price objective for the company from $13.00 to $15.00 in a research note 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.