SG Americas Securities LLC Takes Position in Ambac Financial Group, Inc. (NYSE:AMBC)

SG Americas Securities LLC acquired a new position in shares of Ambac Financial Group, Inc. (NYSE:AMBC) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 16,467 shares of the company’s stock, valued at approximately $185,000.

Several other hedge funds have also recently added to or reduced their stakes in AMBC. Marshall Wace LLP increased its position in Ambac Financial Group by 397.4% in the 2nd quarter. Marshall Wace LLP now owns 345,715 shares of the company’s stock worth $4,432,000 after buying an additional 276,210 shares during the period. Gendell Jeffrey L grew its stake in shares of Ambac Financial Group by 118.0% in the first quarter. Gendell Jeffrey L now owns 434,313 shares of the company’s stock worth $6,788,000 after acquiring an additional 235,058 shares during the last quarter. American Century Companies Inc. increased its position in Ambac Financial Group by 19.0% during the second quarter. American Century Companies Inc. now owns 797,096 shares of the company’s stock worth $10,219,000 after acquiring an additional 127,145 shares during the period. Deerfield Management Company L.P. Series C acquired a new position in Ambac Financial Group during the 2nd quarter valued at $1,149,000. Finally, Dimensional Fund Advisors LP boosted its holdings in Ambac Financial Group by 3.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,952,961 shares of the company’s stock valued at $37,857,000 after purchasing an additional 87,077 shares during the period. Institutional investors own 84.49% of the company’s stock.

Ambac Financial Group Price Performance

Shares of Ambac Financial Group stock opened at $11.50 on Thursday. Ambac Financial Group, Inc. has a twelve month low of $10.12 and a twelve month high of $18.45. The company has a debt-to-equity ratio of 2.37, a quick ratio of 0.62 and a current ratio of 0.62. The firm has a market cap of $520.09 million, a P/E ratio of 8.78 and a beta of 1.23. The firm’s 50-day simple moving average is $11.30 and its 200-day simple moving average is $13.15.

Ambac Financial Group (NYSE:AMBC) last released 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 net margin of 19.27% and a return on equity of 10.79%. The company had revenue of $105.00 million for the quarter. During the same quarter last year, the firm earned $0.07 earnings per share. As a group, research analysts expect that Ambac Financial Group, Inc. will post 1.3 EPS for the current fiscal year.

Insider Activity at Ambac Financial Group

In related news, CFO David Trick acquired 3,700 shares of the company’s stock in a transaction on Wednesday, August 7th. The stock was purchased at an average cost of $10.76 per share, for a total transaction of $39,812.00. Following the completion of the purchase, the chief financial officer now directly owns 156,082 shares of the company’s stock, valued at $1,679,442.32. The trade was a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Jeffrey Scott Stein bought 25,000 shares of the business’s stock in a transaction dated Wednesday, August 7th. The stock was bought at an average price of $10.82 per share, for a total transaction of $270,500.00. Following the completion of the purchase, the director now owns 35,000 shares of the company’s stock, valued at approximately $378,700. The trade was a 200.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO David Trick purchased 3,700 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were acquired at an average price of $10.76 per share, for a total transaction of $39,812.00. Following the completion of the transaction, the chief financial officer now owns 156,082 shares in the company, valued at $1,679,442.32. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased a total of 37,500 shares of company stock valued at $407,445 in the last 90 days. 5.00% of the stock is owned by corporate insiders.

Analyst Ratings Changes

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

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.