American Century Companies Inc. Purchases 127,145 Shares of Ambac Financial Group, Inc. (NYSE:AMBC)

American Century Companies Inc. boosted its position in Ambac Financial Group, Inc. (NYSE:AMBC) by 19.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 797,096 shares of the company’s stock after purchasing an additional 127,145 shares during the period. American Century Companies Inc. owned approximately 1.76% of Ambac Financial Group worth $10,219,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of the business. nVerses Capital LLC increased its position in shares of Ambac Financial Group by 525.0% during the second quarter. nVerses Capital LLC now owns 5,000 shares of the company’s stock worth $64,000 after acquiring an additional 4,200 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Ambac Financial Group by 20.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,826 shares of the company’s stock worth $126,000 after purchasing an additional 1,637 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in shares of 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 valued at $165,000 after purchasing an additional 5,145 shares in the last quarter. Victory Capital Management Inc. purchased a new position in Ambac Financial Group during the fourth quarter valued at approximately $165,000. Finally, Versor Investments LP purchased a new position in Ambac Financial Group during the second quarter valued at approximately $218,000. Hedge funds and other institutional investors own 84.49% of the company’s stock.

Insider Buying and Selling

In related news, General Counsel Stephen Michael Ksenak purchased 5,000 shares of the firm’s stock in a transaction on Wednesday, August 7th. The stock was acquired at an average price of $11.00 per share, with a total value of $55,000.00. Following the completion of the acquisition, the general counsel now owns 116,609 shares in the company, valued at approximately $1,282,699. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Ambac Financial Group news, Director Jeffrey Scott Stein purchased 25,000 shares of Ambac Financial Group stock in a transaction on Wednesday, August 7th. The stock was bought at an average cost of $10.82 per share, with a total value of $270,500.00. Following the transaction, the director now owns 35,000 shares of the company’s stock, valued at approximately $378,700. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Stephen Michael Ksenak acquired 5,000 shares of the business’s stock in a transaction dated Wednesday, August 7th. The stock was acquired at an average price of $11.00 per share, for a total transaction of $55,000.00. Following the purchase, the general counsel now directly owns 116,609 shares of the company’s stock, valued at $1,282,699. The disclosure for this purchase can be found here. Insiders purchased 34,800 shares of company stock worth $377,016 in the last three months. Corporate insiders own 5.00% of the company’s stock.

Ambac Financial Group Stock Performance

Shares of AMBC opened at $11.37 on Monday. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 2.37. The firm has a market cap of $514.21 million, a PE ratio of 8.68 and a beta of 1.24. Ambac Financial Group, Inc. has a 12 month low of $10.12 and a 12 month high of $18.45. The stock has a fifty day moving average price of $11.64 and a 200-day moving average price of $13.76.

Ambac Financial Group (NYSE:AMBC) last announced its earnings results on Monday, August 5th. The company reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.01). The business had revenue of $105.00 million for the quarter. Ambac Financial Group had a net margin of 19.27% and a return on equity of 10.79%. During the same quarter in the prior year, the company earned $0.07 earnings per share. Equities research analysts predict that Ambac Financial Group, Inc. will post 1.3 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on AMBC. StockNews.com cut Ambac Financial Group from a “hold” rating to a “sell” rating in a research report on Wednesday, August 14th. Roth Capital upgraded Ambac Financial Group from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, September 18th. Finally, Roth Mkm upgraded shares of Ambac Financial Group from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $13.00 to $15.00 in a report on Wednesday, September 18th.

About Ambac Financial Group

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.