State Street Corp Acquires 42,504 Shares of Ambac Financial Group, Inc. (NYSE:AMBC)

State Street Corp boosted its position in Ambac Financial Group, Inc. (NYSE:AMBC) by 2.6% during the third quarter, HoldingsChannel reports. The fund owned 1,653,544 shares of the company’s stock after buying an additional 42,504 shares during the quarter. State Street Corp’s holdings in Ambac Financial Group were worth $18,536,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of AMBC. Creative Planning bought a new position in shares of Ambac Financial Group in the third quarter valued at approximately $156,000. Deerfield Management Company L.P. Series C bought a new position in Ambac Financial Group in the second quarter valued at $1,149,000. Marshall Wace LLP raised its holdings in shares of Ambac Financial Group by 397.4% during the 2nd quarter. Marshall Wace LLP now owns 345,715 shares of the company’s stock valued at $4,432,000 after buying an additional 276,210 shares in the last quarter. Hotchkis & Wiley Capital Management LLC raised its stake in shares of Ambac Financial Group by 19.9% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 744,750 shares of the company’s stock worth $8,349,000 after acquiring an additional 123,360 shares in the last quarter. Finally, Exchange Traded Concepts LLC lifted its stake in Ambac Financial Group by 55.1% in the third quarter. Exchange Traded Concepts LLC now owns 157,714 shares of the company’s stock worth $1,768,000 after purchasing an additional 56,036 shares during the last quarter. 84.49% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Ambac Financial Group news, Director Kristi Ann Matus acquired 2,700 shares of Ambac Financial Group stock in a transaction that occurred on Thursday, September 26th. The stock was bought at an average cost of $11.27 per share, for a total transaction of $30,429.00. Following the acquisition, the director now owns 2,700 shares of the company’s stock, valued at $30,429. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 5.00% of the company’s stock.

Ambac Financial Group Trading Down 1.4 %

NYSE AMBC opened at $12.00 on Tuesday. Ambac Financial Group, Inc. has a 12 month low of $10.12 and a 12 month high of $18.45. The stock’s fifty day moving average price is $12.20 and its 200-day moving average price is $11.97. The stock has a market cap of $569.32 million, a P/E ratio of -26.09 and a beta of 1.25. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 2.10.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on AMBC. Roth Capital upgraded shares of Ambac Financial Group from a “hold” rating to a “strong-buy” rating in a report on Wednesday, September 18th. Roth Mkm upgraded Ambac Financial Group from a “neutral” rating to a “buy” rating and raised their target price for the company from $13.00 to $15.00 in a research note on Wednesday, September 18th.

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.