Ambac Financial Group, Inc. (NASDAQ:AMBC) CEO Claude Leblanc bought 15,000 shares of the stock in a transaction on Wednesday, October 4th. The shares were acquired at an average cost of $16.64 per share, with a total value of $249,600.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Shares of Ambac Financial Group, Inc. (AMBC) traded down 0.60% on Thursday, reaching $16.60. The company’s stock had a trading volume of 344,239 shares. Ambac Financial Group, Inc. has a 12 month low of $15.67 and a 12 month high of $27.25. The stock’s market cap is $751.17 million. The firm’s 50-day moving average price is $17.87 and its 200-day moving average price is $18.10.

Ambac Financial Group (NASDAQ:AMBC) last released its quarterly earnings results on Wednesday, August 9th. The financial services provider reported $1.54 earnings per share for the quarter, beating the consensus estimate of $1.22 by $0.32. Ambac Financial Group had a positive return on equity of 5.74% and a negative net margin of 16.39%. The firm had revenue of $172.85 million for the quarter, compared to analysts’ expectations of $127.75 million. During the same quarter last year, the firm posted $2.54 EPS. The company’s revenue was up 36.9% compared to the same quarter last year. On average, analysts forecast that Ambac Financial Group, Inc. will post $1.63 earnings per share for the current fiscal year.

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Several large investors have recently added to or reduced their stakes in AMBC. Wells Fargo & Company MN raised its holdings in shares of Ambac Financial Group by 83.0% in the 1st quarter. Wells Fargo & Company MN now owns 101,556 shares of the financial services provider’s stock valued at $1,916,000 after acquiring an additional 46,072 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Ambac Financial Group by 6.0% in the 1st quarter. Bank of New York Mellon Corp now owns 216,408 shares of the financial services provider’s stock valued at $4,081,000 after acquiring an additional 12,326 shares in the last quarter. BNP Paribas Arbitrage SA raised its holdings in shares of Ambac Financial Group by 27.2% in the 1st quarter. BNP Paribas Arbitrage SA now owns 10,474 shares of the financial services provider’s stock valued at $198,000 after acquiring an additional 2,237 shares in the last quarter. Swiss National Bank raised its holdings in shares of Ambac Financial Group by 3.2% in the 1st quarter. Swiss National Bank now owns 74,400 shares of the financial services provider’s stock valued at $1,403,000 after acquiring an additional 2,300 shares in the last quarter. Finally, Karp Capital Management Corp purchased a new stake in shares of Ambac Financial Group in the 1st quarter valued at about $491,000. 72.95% of the stock is currently owned by hedge funds and other institutional investors.

AMBC has been the subject of several research analyst reports. MKM Partners reissued a “neutral” rating and set a $21.00 target price (up previously from $17.00) on shares of Ambac Financial Group in a research note on Tuesday, July 25th. BTIG Research reissued a “buy” rating and set a $26.00 target price on shares of Ambac Financial Group in a research note on Saturday, July 22nd.

Ambac Financial Group Company Profile

Ambac Financial Group, Inc, a financial services holding company, provides financial guarantees and other financial services to clients in both the public and private sectors worldwide. It operates through two segments, Financial Guarantee and Financial Services. The Financial Guarantee segment provides financial guarantees, including insurance policies and credit derivative contracts for public finance, structured finance, and international obligations.

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