Ambac Financial Group (NYSE:AMBC) Upgraded to “Hold” at StockNews.com

StockNews.com upgraded shares of Ambac Financial Group (NYSE:AMBC) from a sell rating to a hold rating in a research report released on Wednesday morning.

Ambac Financial Group Stock Performance

AMBC opened at $18.37 on Wednesday. The company has a debt-to-equity ratio of 2.46, a quick ratio of 0.72 and a current ratio of 0.72. The stock has a market capitalization of $830.69 million, a price-to-earnings ratio of 122.14 and a beta of 1.30. The company has a fifty day moving average of $15.19 and a 200 day moving average of $15.23. Ambac Financial Group has a fifty-two week low of $11.26 and a fifty-two week high of $18.45.

Ambac Financial Group (NYSE:AMBC) last announced its quarterly earnings results on Monday, May 6th. The company reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.61. Ambac Financial Group had a return on equity of 6.99% and a net margin of 1.48%. The company had revenue of $103.00 million during the quarter. During the same period in the previous year, the company posted ($0.30) earnings per share. As a group, sell-side analysts forecast that Ambac Financial Group will post 0.45 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ambac Financial Group

Institutional investors and hedge funds have recently made changes to their positions in the business. Hsbc Holdings PLC raised its position in shares of Ambac Financial Group by 27.3% during the 3rd quarter. Hsbc Holdings PLC now owns 305,185 shares of the company’s stock valued at $3,723,000 after buying an additional 65,366 shares in the last quarter. Cornerstone Investment Partners LLC bought a new stake in Ambac Financial Group during the fourth quarter worth approximately $178,000. Invesco Ltd. raised its position in Ambac Financial Group by 5.9% during the third quarter. Invesco Ltd. now owns 885,456 shares of the company’s stock valued at $10,679,000 after purchasing an additional 49,529 shares during the period. American Century Companies Inc. lifted its stake in shares of Ambac Financial Group by 20.6% in the 3rd quarter. American Century Companies Inc. now owns 427,678 shares of the company’s stock valued at $5,158,000 after purchasing an additional 73,191 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Ambac Financial Group by 2.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 640,084 shares of the company’s stock worth $7,719,000 after purchasing an additional 14,466 shares during the period. 84.49% of the stock is owned by hedge funds and other institutional investors.

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.