Voya Investment Management LLC Grows Position in Ambac Financial Group, Inc. (AMBC)
Voya Investment Management LLC increased its stake in shares of Ambac Financial Group, Inc. (NASDAQ:AMBC) by 11.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 21,247 shares of the financial services provider’s stock after buying an additional 2,126 shares during the quarter. Voya Investment Management LLC’s holdings in Ambac Financial Group were worth $369,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Evermore Global Advisors LLC grew its holdings in shares of Ambac Financial Group by 34.5% during the second quarter. Evermore Global Advisors LLC now owns 964,587 shares of the financial services provider’s stock worth $16,736,000 after buying an additional 247,634 shares during the last quarter. State Street Corp grew its holdings in shares of Ambac Financial Group by 0.8% during the first quarter. State Street Corp now owns 868,395 shares of the financial services provider’s stock worth $16,381,000 after buying an additional 6,732 shares during the last quarter. Northern Trust Corp grew its holdings in shares of Ambac Financial Group by 1.8% during the second quarter. Northern Trust Corp now owns 557,464 shares of the financial services provider’s stock worth $9,671,000 after buying an additional 9,897 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Ambac Financial Group by 8.1% in the 1st quarter. Geode Capital Management LLC now owns 364,329 shares of the financial services provider’s stock valued at $6,871,000 after purchasing an additional 27,263 shares in the last quarter. Finally, Parametric Portfolio Associates LLC boosted its holdings in Ambac Financial Group by 16.3% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 254,984 shares of the financial services provider’s stock valued at $4,424,000 after purchasing an additional 35,713 shares in the last quarter. 72.93% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Ambac Financial Group, Inc. (NASDAQ AMBC) opened at $13.81 on Friday. Ambac Financial Group, Inc. has a twelve month low of $13.17 and a twelve month high of $27.25. The company has a debt-to-equity ratio of 7.46, a current ratio of 0.38 and a quick ratio of 0.33.
Ambac Financial Group (NASDAQ:AMBC) last announced its quarterly earnings data on Wednesday, November 8th. The financial services provider reported ($3.30) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.92 by ($4.22). The business had revenue of $132.97 million during the quarter, compared to analysts’ expectations of $125.84 million. Ambac Financial Group had a negative net margin of 60.33% and a negative return on equity of 9.68%. Ambac Financial Group’s revenue for the quarter was down 8.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.23 EPS.
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In other news, CEO Claude Leblanc purchased 15,000 shares of the firm’s stock in a transaction dated Wednesday, October 4th. The shares were acquired at an average price 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 available through this link. 1.00% of the stock is owned by insiders.
A number of equities research analysts have weighed in on the company. BTIG Research reaffirmed a “buy” rating and issued a $26.00 price objective on shares of Ambac Financial Group in a report on Saturday, July 22nd. MKM Partners reaffirmed a “hold” rating on shares of Ambac Financial Group in a report on Thursday, October 5th.
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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