Jupiter Asset Management Ltd. Purchases New Stake in Ambac Financial Group, Inc. (NYSE:AMBC)

Jupiter Asset Management Ltd. purchased a new stake in shares of Ambac Financial Group, Inc. (NYSE:AMBC) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 248,010 shares of the company’s stock, valued at approximately $3,529,000. Jupiter Asset Management Ltd. owned 0.55% of Ambac Financial Group as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in AMBC. Citigroup Inc. lifted its holdings in Ambac Financial Group by 42.1% during the second quarter. Citigroup Inc. now owns 39,932 shares of the company’s stock valued at $569,000 after purchasing an additional 11,826 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Ambac Financial Group by 28.4% during the second quarter. Dimensional Fund Advisors LP now owns 2,171,341 shares of the company’s stock valued at $30,919,000 after purchasing an additional 480,450 shares during the last quarter. Swiss National Bank lifted its holdings in Ambac Financial Group by 1.6% during the second quarter. Swiss National Bank now owns 98,600 shares of the company’s stock valued at $1,404,000 after purchasing an additional 1,600 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in shares of Ambac Financial Group by 7.6% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 51,231 shares of the company’s stock worth $730,000 after buying an additional 3,615 shares in the last quarter. Finally, Rhumbline Advisers lifted its holdings in shares of Ambac Financial Group by 0.6% in the second quarter. Rhumbline Advisers now owns 148,532 shares of the company’s stock worth $2,115,000 after buying an additional 916 shares in the last quarter. Institutional investors own 81.68% of the company’s stock.

Insider Buying and Selling at Ambac Financial Group

In other Ambac Financial Group news, CEO Claude Leblanc purchased 2,500 shares of Ambac Financial Group stock in a transaction on Friday, September 1st. The shares were acquired at an average cost of $13.29 per share, for a total transaction of $33,225.00. Following the completion of the transaction, the chief executive officer now directly owns 502,416 shares of the company’s stock, valued at $6,677,108.64. The purchase was disclosed in a filing with the SEC, which is available at this link. Company insiders own 3.40% of the company’s stock.

Ambac Financial Group Trading Down 0.6 %

Shares of AMBC opened at $14.49 on Friday. The firm’s 50 day simple moving average is $12.58 and its 200 day simple moving average is $13.42. The company has a market capitalization of $654.88 million, a P/E ratio of 3.41 and a beta of 1.18. The company has a debt-to-equity ratio of 2.43, a current ratio of 0.80 and a quick ratio of 0.80. Ambac Financial Group, Inc. has a 1-year low of $11.26 and a 1-year high of $17.75.

Ambac Financial Group (NYSE:AMBC) last announced its earnings results on Wednesday, November 8th. The company reported $2.00 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.10) by $2.10. The business had revenue of $74.00 million for the quarter. Ambac Financial Group had a net margin of 47.26% and a return on equity of 20.87%. During the same period in the prior year, the business earned $7.37 earnings per share. Sell-side analysts forecast that Ambac Financial Group, Inc. will post 1.8 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on AMBC shares. StockNews.com started coverage on shares of Ambac Financial Group in a report on Thursday, October 5th. They issued a “sell” rating on the stock. Compass Point raised shares of Ambac Financial Group from a “neutral” rating to a “buy” rating and set a $18.00 target price on the stock in a research note on Tuesday, August 8th.

Ambac Financial Group 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.