Citigroup Inc. Cuts Stock Position in Ambac Financial Group, Inc. (NYSE:AMBC)

Citigroup Inc. cut its stake in shares of Ambac Financial Group, Inc. (NYSE:AMBC) by 52.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 19,134 shares of the company’s stock after selling 20,798 shares during the quarter. Citigroup Inc.’s holdings in Ambac Financial Group were worth $231,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of AMBC. Hsbc Holdings PLC raised its stake 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 worth $3,723,000 after buying an additional 65,366 shares in the last quarter. Invesco Ltd. boosted its position in shares of Ambac Financial Group by 5.9% during the 3rd quarter. Invesco Ltd. now owns 885,456 shares of the company’s stock worth $10,679,000 after purchasing an additional 49,529 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Ambac Financial Group by 2.3% during 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. Jupiter Asset Management Ltd. increased its holdings in shares of Ambac Financial Group by 64.8% in the 3rd quarter. Jupiter Asset Management Ltd. now owns 408,719 shares of the company’s stock valued at $4,929,000 after purchasing an additional 160,709 shares in the last quarter. Finally, Los Angeles Capital Management LLC boosted its holdings in Ambac Financial Group by 586.1% during the third quarter. Los Angeles Capital Management LLC now owns 164,191 shares of the company’s stock worth $1,980,000 after buying an additional 140,260 shares in the last quarter. 84.49% of the stock is owned by institutional investors and hedge funds.

Ambac Financial Group Stock Up 3.0 %

Ambac Financial Group stock opened at $15.63 on Friday. The firm has a market capitalization of $706.32 million, a price-to-earnings ratio of 104.21 and a beta of 1.30. The company has a debt-to-equity ratio of 2.46, a quick ratio of 0.72 and a current ratio of 0.72. Ambac Financial Group, Inc. has a fifty-two week low of $11.26 and a fifty-two week high of $17.80. The stock’s fifty day moving average is $15.74 and its two-hundred day moving average is $14.63.

Ambac Financial Group (NYSE:AMBC) last issued its quarterly earnings data on Wednesday, February 28th. The company reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.29. The firm had revenue of $76.00 million for the quarter. Ambac Financial Group had a net margin of 1.48% and a return on equity of 6.99%. During the same period in the previous year, the company posted $4.18 earnings per share. Analysts predict that Ambac Financial Group, Inc. will post 0.45 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded shares of Ambac Financial Group from a “hold” rating to a “sell” rating in a research report on Thursday, February 29th.

About Ambac Financial Group

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.