Nuveen LLC Purchases Shares of 282,657 Ambac Financial Group, Inc. $AMBC

Nuveen LLC acquired a new position in Ambac Financial Group, Inc. (NYSE:AMBC) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 282,657 shares of the company’s stock, valued at approximately $2,473,000. Nuveen LLC owned approximately 0.55% of Ambac Financial Group as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in AMBC. Nuveen Asset Management LLC raised its holdings in Ambac Financial Group by 65.5% in the fourth quarter. Nuveen Asset Management LLC now owns 824,357 shares of the company’s stock valued at $10,428,000 after acquiring an additional 326,149 shares in the last quarter. Prescott Group Capital Management L.L.C. increased its position in shares of Ambac Financial Group by 127.0% in the 1st quarter. Prescott Group Capital Management L.L.C. now owns 442,364 shares of the company’s stock worth $3,871,000 after purchasing an additional 247,462 shares during the last quarter. Western Standard LLC raised its stake in shares of Ambac Financial Group by 64.3% in the 4th quarter. Western Standard LLC now owns 453,530 shares of the company’s stock valued at $5,737,000 after purchasing an additional 177,567 shares in the last quarter. Bank of America Corp DE lifted its position in shares of Ambac Financial Group by 166.4% during the fourth quarter. Bank of America Corp DE now owns 194,061 shares of the company’s stock worth $2,455,000 after purchasing an additional 121,228 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd lifted its position in shares of Ambac Financial Group by 277.0% during the first quarter. Y Intercept Hong Kong Ltd now owns 146,446 shares of the company’s stock worth $1,281,000 after purchasing an additional 107,596 shares during the last quarter. Hedge funds and other institutional investors own 84.49% of the company’s stock.

Insiders Place Their Bets

In other Ambac Financial Group news, CEO Claude Leblanc purchased 25,000 shares of Ambac Financial Group stock in a transaction on Monday, August 11th. The stock was bought at an average price of $7.03 per share, for a total transaction of $175,750.00. Following the transaction, the chief executive officer owned 603,291 shares of the company’s stock, valued at $4,241,135.73. The trade was a 4.32% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 6.20% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Separately, Truist Financial started coverage on Ambac Financial Group in a research note on Tuesday, July 15th. They set a “buy” rating and a $10.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $12.50.

Ambac Financial Group Stock Up 0.3%

Shares of NYSE:AMBC opened at $9.04 on Friday. The company has a market cap of $419.22 million, a PE ratio of -0.66 and a beta of 0.92. The company’s 50-day moving average price is $7.98 and its 200 day moving average price is $8.18. Ambac Financial Group, Inc. has a fifty-two week low of $5.99 and a fifty-two week high of $13.64.

Ambac Financial Group (NYSE:AMBC) last announced its quarterly earnings results on Thursday, August 7th. The company reported ($0.22) EPS for the quarter, beating the consensus estimate of ($0.24) by $0.02. The company had revenue of $16.20 million for the quarter, compared to analyst estimates of $55.59 million. Ambac Financial Group had a negative net margin of 215.40% and a negative return on equity of 3.50%. As a group, equities analysts anticipate that Ambac Financial Group, Inc. will post 0.6 EPS for the current year.

Ambac Financial Group Company 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.