Dimensional Fund Advisors LP trimmed its stake in shares of Ambac Financial Group, Inc. (NASDAQ:AMBC) by 1.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,541,204 shares of the financial services provider’s stock after selling 25,842 shares during the quarter. Dimensional Fund Advisors LP owned about 5.61% of Ambac Financial Group worth $50,443,000 at the end of the most recent reporting period.
A number of other hedge funds also recently added to or reduced their stakes in the business. Gendell Jeffrey L boosted its position in Ambac Financial Group by 54.8% during the first quarter. Gendell Jeffrey L now owns 1,076,144 shares of the financial services provider’s stock worth $16,874,000 after purchasing an additional 381,084 shares during the period. Schwab Charles Investment Management Inc. boosted its position in Ambac Financial Group by 34.9% during the second quarter. Schwab Charles Investment Management Inc. now owns 633,882 shares of the financial services provider’s stock worth $12,583,000 after purchasing an additional 164,149 shares during the period. Rubric Capital Management LP boosted its position in Ambac Financial Group by 36.3% during the first quarter. Rubric Capital Management LP now owns 562,844 shares of the financial services provider’s stock worth $8,825,000 after purchasing an additional 150,000 shares during the period. Bank of New York Mellon Corp boosted its position in Ambac Financial Group by 140.8% during the second quarter. Bank of New York Mellon Corp now owns 512,595 shares of the financial services provider’s stock worth $10,175,000 after purchasing an additional 299,739 shares during the period. Finally, Chicago Equity Partners LLC bought a new position in Ambac Financial Group during the second quarter worth $5,799,000. 80.70% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts have commented on AMBC shares. BidaskClub cut shares of Ambac Financial Group from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, August 28th. MKM Partners lifted their price objective on shares of Ambac Financial Group to $20.00 and gave the stock a “neutral” rating in a research report on Friday, June 29th.
Shares of Ambac Financial Group stock opened at $20.44 on Friday. The stock has a market capitalization of $943.36 million, a PE ratio of 4.32 and a beta of 1.65. Ambac Financial Group, Inc. has a 52-week low of $13.17 and a 52-week high of $23.34. The company has a debt-to-equity ratio of 6.90, a current ratio of 0.99 and a quick ratio of 0.99.
Ambac Financial Group (NASDAQ:AMBC) last announced its earnings results on Wednesday, August 8th. The financial services provider reported $0.78 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.57 by $0.21. The company had revenue of $150.64 million during the quarter, compared to analysts’ expectations of $146.37 million. Ambac Financial Group had a net margin of 15.40% and a return on equity of 11.70%. Ambac Financial Group’s quarterly revenue was down 12.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.54 earnings per share.
About Ambac Financial Group
Ambac Financial Group, Inc, a financial services holding company, provides financial guarantees to clients in public and private sectors worldwide. It offers financial guarantee insurance policies and credit derivative contracts for public finance, structured finance, and international finance. The company was founded in 1971 and is headquartered in New York, New York.
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