Schwab Charles Investment Management Inc. Reduces Stake in Ambac Financial Group, Inc. (AMBC)

Schwab Charles Investment Management Inc. lowered its stake in shares of Ambac Financial Group, Inc. (NASDAQ:AMBC) by 13.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 362,024 shares of the financial services provider’s stock after selling 57,666 shares during the period. Schwab Charles Investment Management Inc. owned approximately 0.80% of Ambac Financial Group worth $6,282,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in AMBC. 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 worth $198,000 after acquiring an additional 2,237 shares during the last quarter. Schroder Investment Management Group acquired a new stake in shares of Ambac Financial Group in the 1st quarter worth about $266,000. Tudor Investment Corp ET AL raised its holdings in shares of Ambac Financial Group by 79.0% in the 1st quarter. Tudor Investment Corp ET AL now owns 18,800 shares of the financial services provider’s stock worth $355,000 after acquiring an additional 8,300 shares during the last quarter. Globeflex Capital L P acquired a new stake in shares of Ambac Financial Group in the 1st quarter worth about $362,000. Finally, Fox Run Management L.L.C. acquired a new stake in shares of Ambac Financial Group in the 2nd quarter worth about $425,000. Hedge funds and other institutional investors own 72.95% of the company’s stock.

A number of research firms recently weighed in on AMBC. MKM Partners restated a “neutral” rating and issued a $21.00 target price (up previously from $17.00) on shares of Ambac Financial Group in a report on Tuesday, July 25th. BTIG Research restated a “buy” rating and issued a $26.00 target price on shares of Ambac Financial Group in a report on Saturday, July 22nd.

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Shares of Ambac Financial Group, Inc. (NASDAQ:AMBC) opened at 16.60 on Wednesday. The firm’s market cap is $751.17 million. The company has a 50 day moving average of $17.69 and a 200-day moving average of $18.06. Ambac Financial Group, Inc. has a 12-month low of $15.67 and a 12-month high of $27.25.

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

In other Ambac Financial Group news, CEO Claude Leblanc purchased 15,000 shares of the stock in a transaction that occurred on Wednesday, October 4th. The stock was bought at an average cost of $16.64 per share, with a total value of $249,600.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.61% of the company’s stock.

About Ambac Financial Group

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.

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

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