American Century Companies Inc. Acquires 73,191 Shares of Ambac Financial Group, Inc. (NYSE:AMBC)

American Century Companies Inc. boosted its holdings in Ambac Financial Group, Inc. (NYSE:AMBC) by 20.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 427,678 shares of the company’s stock after acquiring an additional 73,191 shares during the quarter. American Century Companies Inc. owned 0.95% of Ambac Financial Group worth $5,158,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in AMBC. Graham Capital Management L.P. bought a new stake in Ambac Financial Group during the third quarter worth about $244,000. Comerica Bank bought a new stake in Ambac Financial Group during the third quarter worth about $250,000. GTS Securities LLC bought a new stake in Ambac Financial Group during the third quarter worth about $155,000. Sei Investments Co. bought a new stake in Ambac Financial Group during the third quarter worth about $198,000. Finally, Ameriprise Financial Inc. grew its stake in Ambac Financial Group by 18.5% during the third quarter. Ameriprise Financial Inc. now owns 194,486 shares of the company’s stock worth $2,346,000 after buying an additional 30,318 shares during the last quarter. Institutional investors own 84.49% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered shares of Ambac Financial Group from a “hold” rating to a “sell” rating in a research report on Thursday, February 29th.

Ambac Financial Group Price Performance

Shares of AMBC stock opened at $15.21 on Thursday. Ambac Financial Group, Inc. has a 1 year low of $11.26 and a 1 year high of $17.80. The firm’s 50 day moving average is $15.74 and its 200-day moving average is $14.62. The firm has a market capitalization of $687.34 million, a price-to-earnings ratio of 101.41 and a beta of 1.30. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 2.46.

Ambac Financial Group (NYSE:AMBC) last announced its earnings results on Wednesday, February 28th. The company reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.29. Ambac Financial Group had a net margin of 1.48% and a return on equity of 6.99%. The company had revenue of $76.00 million for the quarter. During the same quarter in the previous year, the company posted $4.18 earnings per share. Sell-side analysts forecast that Ambac Financial Group, Inc. will post 0.45 EPS for the current fiscal 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.