Legal & General Group Plc Sells 249 Shares of Ambac Financial Group, Inc. (NASDAQ:AMBC)

Legal & General Group Plc decreased its position in Ambac Financial Group, Inc. (NASDAQ:AMBC) by 2.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 10,793 shares of the financial services provider’s stock after selling 249 shares during the period. Legal & General Group Plc’s holdings in Ambac Financial Group were worth $203,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently bought and sold shares of AMBC. Norges Bank bought a new stake in Ambac Financial Group during the fourth quarter worth approximately $867,000. Teachers Advisors LLC boosted its stake in Ambac Financial Group by 2.6% in the fourth quarter. Teachers Advisors LLC now owns 74,932 shares of the financial services provider’s stock valued at $1,686,000 after buying an additional 1,909 shares during the period. James Investment Research Inc. acquired a new stake in Ambac Financial Group during the first quarter valued at approximately $1,675,000. Old Mutual Global Investors UK Ltd. boosted its stake in Ambac Financial Group by 2,194.9% in the first quarter. Old Mutual Global Investors UK Ltd. now owns 33,896 shares of the financial services provider’s stock valued at $639,000 after buying an additional 32,419 shares during the period. Finally, Wells Fargo & Company MN boosted its stake in Ambac Financial Group by 83.0% in the first quarter. Wells Fargo & Company MN now owns 101,556 shares of the financial services provider’s stock valued at $1,916,000 after buying an additional 46,072 shares during the period. Hedge funds and other institutional investors own 73.47% of the company’s stock.

Ambac Financial Group, Inc. (AMBC) traded down 2.95% during mid-day trading on Friday, reaching $19.08. The company’s stock had a trading volume of 519,456 shares. The firm has a 50-day moving average of $18.70 and a 200 day moving average of $19.03. The firm’s market capitalization is $863.39 million. Ambac Financial Group, Inc. has a 1-year low of $15.67 and a 1-year high of $27.25.

Ambac Financial Group (NASDAQ:AMBC) last posted 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. The firm had revenue of $172.85 million for the quarter, compared to analyst estimates of $127.75 million. Ambac Financial Group had a positive return on equity of 5.74% and a negative net margin of 16.39%. Ambac Financial Group’s quarterly revenue was up 36.9% on a year-over-year basis. During the same period in the previous year, the firm earned $2.54 earnings per share. Equities analysts expect that Ambac Financial Group, Inc. will post $0.70 earnings per share for the current year.

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AMBC has been the subject of several recent analyst reports. BTIG Research restated a “buy” rating and issued a $39.00 price target (up previously from $28.00) on shares of Ambac Financial Group in a report on Thursday, May 11th. MKM Partners restated a “neutral” rating and issued a $21.00 price target (up previously from $17.00) on shares of Ambac Financial Group in a report on Tuesday, July 25th.

In other Ambac Financial Group news, CEO Claude Leblanc purchased 7,500 shares of the company’s stock in a transaction that occurred on Thursday, May 18th. The shares were purchased at an average cost of $16.45 per share, with a total value of $123,375.00. Following the completion of the transaction, the chief executive officer now owns 25,400 shares of the company’s stock, valued at $417,830. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.00% of the stock is currently owned by insiders.

Want to see what other hedge funds are holding AMBC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ambac Financial Group, Inc. (NASDAQ:AMBC).

Institutional Ownership by Quarter for Ambac Financial Group (NASDAQ:AMBC)

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