Ambac Financial Group, Inc. $AMBC Shares Sold by Invesco Ltd.

Invesco Ltd. trimmed its position in Ambac Financial Group, Inc. (NYSE:AMBC) by 51.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 180,495 shares of the company’s stock after selling 195,018 shares during the period. Invesco Ltd. owned about 0.35% of Ambac Financial Group worth $1,579,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Envestnet Portfolio Solutions Inc. acquired a new stake in Ambac Financial Group in the 1st quarter worth about $110,000. Deutsche Bank AG boosted its holdings in Ambac Financial Group by 7.1% in the 1st quarter. Deutsche Bank AG now owns 723,250 shares of the company’s stock worth $6,328,000 after buying an additional 48,117 shares during the last quarter. SG Americas Securities LLC acquired a new stake in Ambac Financial Group in the 1st quarter worth about $317,000. Two Sigma Investments LP boosted its holdings in Ambac Financial Group by 41.1% in the 4th quarter. Two Sigma Investments LP now owns 132,295 shares of the company’s stock worth $1,674,000 after buying an additional 38,540 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Ambac Financial Group by 23.6% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 194,034 shares of the company’s stock worth $2,455,000 after buying an additional 37,067 shares during the last quarter. 84.49% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Truist Financial began coverage on Ambac Financial Group in a report on Tuesday, July 15th. They issued 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 issued a Buy rating to the company’s stock. According to MarketBeat, Ambac Financial Group currently has a consensus rating of “Buy” and an average target price of $12.50.

Ambac Financial Group Price Performance

Shares of Ambac Financial Group stock opened at $9.04 on Monday. The stock has a market cap of $419.24 million, a P/E ratio of -0.66 and a beta of 0.96. The stock’s 50 day simple moving average is $7.98 and its 200-day simple moving average is $8.13. Ambac Financial Group, Inc. has a 1-year low of $5.99 and a 1-year high of $13.64.

Ambac Financial Group (NYSE:AMBC) last issued its earnings results on Thursday, August 7th. The company reported ($0.22) earnings per share for the quarter, topping the consensus estimate of ($0.24) by $0.02. The business had revenue of $16.20 million for the quarter, compared to analysts’ expectations of $55.59 million. Ambac Financial Group had a negative return on equity of 3.50% and a negative net margin of 215.40%. As a group, research analysts expect that Ambac Financial Group, Inc. will post 0.6 EPS for the current fiscal year.

Insider Buying and Selling at Ambac Financial Group

In related news, CEO Claude Leblanc bought 25,000 shares of the stock in a transaction dated Monday, August 11th. The shares were acquired at an average cost of $7.03 per share, for a total transaction of $175,750.00. Following the acquisition, the chief executive officer directly owned 603,291 shares in the company, valued at approximately $4,241,135.73. This trade represents a 4.32% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 6.20% of the stock is currently owned by corporate insiders.

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.