Franklin Resources Inc. Sells 13,372 Shares of Ambac Financial Group, Inc. (NYSE:AMBC)

Franklin Resources Inc. lowered its position in Ambac Financial Group, Inc. (NYSE:AMBC) by 51.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 12,477 shares of the company’s stock after selling 13,372 shares during the period. Franklin Resources Inc.’s holdings in Ambac Financial Group were worth $158,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in AMBC. Aigen Investment Management LP acquired a new stake in shares of Ambac Financial Group in the 4th quarter worth about $146,000. AXQ Capital LP bought a new stake in Ambac Financial Group during the 4th quarter worth approximately $153,000. KLP Kapitalforvaltning AS purchased a new stake in shares of Ambac Financial Group in the fourth quarter worth approximately $157,000. XTX Topco Ltd bought a new position in shares of Ambac Financial Group in the third quarter valued at approximately $172,000. Finally, Maryland State Retirement & Pension System purchased a new position in shares of Ambac Financial Group during the fourth quarter valued at approximately $201,000. Institutional investors and hedge funds own 84.49% of the company’s stock.

Ambac Financial Group Trading Up 2.5 %

Shares of Ambac Financial Group stock opened at $7.31 on Friday. The company has a market capitalization of $373.22 million, a P/E ratio of -15.88 and a beta of 1.09. The stock has a fifty day simple moving average of $8.92 and a 200 day simple moving average of $10.88. Ambac Financial Group, Inc. has a 12-month low of $6.33 and a 12-month high of $18.45. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 2.10.

Ambac Financial Group (NYSE:AMBC) last posted its earnings results on Wednesday, February 26th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.18). Ambac Financial Group had a positive return on equity of 2.51% and a negative net margin of 6.28%. The firm had revenue of $18.93 million during the quarter, compared to the consensus estimate of $24.83 million. On average, sell-side analysts anticipate that Ambac Financial Group, Inc. will post 0.6 earnings per share for the current fiscal year.

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.