California Public Employees Retirement System lessened its holdings in shares of Ambac Financial Group, Inc. (NASDAQ:AMBC) by 35.3% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 116,647 shares of the financial services provider’s stock after selling 63,736 shares during the quarter. California Public Employees Retirement System’s holdings in Ambac Financial Group were worth $2,114,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. Arizona State Retirement System boosted its position in Ambac Financial Group by 6.2% during the 4th quarter. Arizona State Retirement System now owns 69,817 shares of the financial services provider’s stock worth $1,204,000 after acquiring an additional 4,057 shares during the last quarter. Crossmark Global Holdings Inc. bought a new stake in Ambac Financial Group in the 4th quarter valued at $242,000. Rhumbline Advisers raised its stake in Ambac Financial Group by 20.8% in the 4th quarter. Rhumbline Advisers now owns 130,809 shares of the financial services provider’s stock valued at $2,255,000 after acquiring an additional 22,519 shares during the period. BB&T Securities LLC bought a new stake in Ambac Financial Group in the 4th quarter valued at $516,000. Finally, ClariVest Asset Management LLC acquired a new position in Ambac Financial Group in the 4th quarter valued at $3,303,000. 80.80% of the stock is owned by hedge funds and other institutional investors.
AMBC has been the topic of several analyst reports. BidaskClub lowered Ambac Financial Group from a “sell” rating to a “strong sell” rating in a report on Wednesday, April 3rd. TheStreet downgraded Ambac Financial Group from a “c” rating to a “d+” rating in a research report on Tuesday, May 14th.
Shares of NASDAQ:AMBC opened at $14.87 on Wednesday. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 5.20. Ambac Financial Group, Inc. has a 12-month low of $14.67 and a 12-month high of $23.34.
Ambac Financial Group (NASDAQ:AMBC) last issued its earnings results on Thursday, May 9th. The financial services provider reported ($0.20) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.16) by ($0.04). The firm had revenue of $100.37 million during the quarter, compared to the consensus estimate of $79.65 million. Ambac Financial Group had a negative net margin of 37.35% and a negative return on equity of 2.12%. During the same quarter in the previous year, the firm earned $7.22 earnings per share.
In other news, CAO Robert Bryan Eisman acquired 2,000 shares of the business’s stock in a transaction dated Thursday, May 30th. The stock was purchased at an average cost of $15.17 per share, for a total transaction of $30,340.00. Following the acquisition, the chief accounting officer now owns 22,183 shares of the company’s stock, valued at $336,516.11. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Claude Leblanc bought 13,500 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The shares were bought at an average price of $16.81 per share, with a total value of $226,935.00. Following the completion of the acquisition, the chief executive officer now directly owns 71,125 shares in the company, valued at $1,195,611.25. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 29,330 shares of company stock worth $477,972. 1.60% of the stock is currently owned by corporate insiders.
About Ambac Financial Group
Ambac Financial Group, Inc, a financial services holding company, provides financial guarantees to public and private sector clients in the United States, the United Kingdom, Italy, Austria, Australia, France, and Internationally. It offers financial guarantee insurance policies; and credit derivative contracts and Interest rate derivative transactions.
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