Price T Rowe Associates Inc. MD Buys 1,861 Shares of Ambac Financial Group, Inc. (NYSE:AMBC)

Price T Rowe Associates Inc. MD increased its stake in Ambac Financial Group, Inc. (NYSE:AMBC) by 5.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 38,405 shares of the company’s stock after purchasing an additional 1,861 shares during the period. Price T Rowe Associates Inc. MD’s holdings in Ambac Financial Group were worth $601,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Allspring Global Investments Holdings LLC grew its stake in Ambac Financial Group by 95.3% during the first quarter. Allspring Global Investments Holdings LLC now owns 10,542 shares of the company’s stock worth $165,000 after buying an additional 5,145 shares in the last quarter. Victory Capital Management Inc. acquired a new stake in shares of Ambac Financial Group during the 4th quarter worth approximately $165,000. Cornerstone Investment Partners LLC acquired a new stake in shares of Ambac Financial Group during the 4th quarter worth approximately $178,000. State Board of Administration of Florida Retirement System increased its stake in Ambac Financial Group by 27.0% in the first quarter. State Board of Administration of Florida Retirement System now owns 16,040 shares of the company’s stock valued at $248,000 after acquiring an additional 3,410 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its position in Ambac Financial Group by 55.3% during the first quarter. BNP Paribas Financial Markets now owns 23,370 shares of the company’s stock valued at $365,000 after purchasing an additional 8,318 shares in the last quarter. Institutional investors and hedge funds own 84.49% of the company’s stock.

Ambac Financial Group Stock Performance

Shares of Ambac Financial Group stock opened at $11.00 on Wednesday. The company’s 50 day moving average price is $12.43 and its two-hundred day moving average price is $14.70. The firm has a market capitalization of $497.48 million, a P/E ratio of 8.40 and a beta of 1.24. Ambac Financial Group, Inc. has a fifty-two week low of $10.12 and a fifty-two week high of $18.45. The company has a debt-to-equity ratio of 2.42, a current ratio of 0.71 and a quick ratio of 0.71.

Ambac Financial Group (NYSE:AMBC) last issued its quarterly earnings data on Monday, August 5th. The company reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.01). Ambac Financial Group had a return on equity of 10.69% and a net margin of 18.09%. The firm had revenue of $105.00 million for the quarter. During the same quarter in the prior year, the company earned $0.07 EPS. On average, equities analysts forecast that Ambac Financial Group, Inc. will post 1.45 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on AMBC shares. StockNews.com lowered Ambac Financial Group from a “hold” rating to a “sell” rating in a research note on Wednesday. Compass Point lifted their target price on Ambac Financial Group from $18.00 to $19.00 and gave the company a “buy” rating in a research report on Wednesday, May 8th.

Insider Activity

In other Ambac Financial Group news, General Counsel Stephen Michael Ksenak bought 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The shares were acquired at an average cost of $11.00 per share, for a total transaction of $55,000.00. Following the transaction, the general counsel now directly owns 116,609 shares in the company, valued at $1,282,699. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CFO David Trick acquired 3,700 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The shares were bought at an average cost of $10.76 per share, with a total value of $39,812.00. Following the completion of the purchase, the chief financial officer now directly owns 156,082 shares in the company, valued at $1,679,442.32. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Stephen Michael Ksenak bought 5,000 shares of the firm’s stock in a transaction on Wednesday, August 7th. The shares were purchased at an average cost of $11.00 per share, with a total value of $55,000.00. Following the transaction, the general counsel now directly owns 116,609 shares in the company, valued at approximately $1,282,699. The disclosure for this purchase can be found here. Insiders bought 34,800 shares of company stock valued at $377,016 over the last quarter. 5.00% of the stock is owned by company insiders.

Ambac Financial Group 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.