Ambac Financial Group (NYSE:AMBC) Given New $19.00 Price Target at Compass Point

Ambac Financial Group (NYSE:AMBC) had its price objective lifted by investment analysts at Compass Point from $18.00 to $19.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Compass Point’s price target suggests a potential upside of 3.43% from the stock’s current price.

Separately, StockNews.com raised shares of Ambac Financial Group from a “sell” rating to a “hold” rating in a research note on Wednesday.

Ambac Financial Group Stock Performance

AMBC traded up $0.33 during trading hours on Wednesday, hitting $18.37. The company’s stock had a trading volume of 525,858 shares, compared to its average volume of 384,382. The company has a 50-day simple moving average of $15.16 and a 200 day simple moving average of $15.21. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 2.46. The firm has a market capitalization of $830.69 million, a PE ratio of 121.74 and a beta of 1.30. Ambac Financial Group has a fifty-two week low of $11.26 and a fifty-two week high of $18.38.

Ambac Financial Group (NYSE:AMBC) last announced its earnings results on Monday, May 6th. The company reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.61. Ambac Financial Group had a net margin of 1.48% and a return on equity of 6.99%. The firm had revenue of $103.00 million during the quarter. During the same quarter in the prior year, the company earned ($0.30) EPS. As a group, sell-side analysts expect that Ambac Financial Group will post 0.45 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in AMBC. Qube Research & Technologies Ltd lifted its stake in Ambac Financial Group by 153.1% in the 3rd quarter. Qube Research & Technologies Ltd now owns 274,795 shares of the company’s stock worth $3,314,000 after acquiring an additional 166,239 shares in the last quarter. Jupiter Asset Management Ltd. boosted its holdings in shares of Ambac Financial Group by 64.8% during the third quarter. Jupiter Asset Management Ltd. now owns 408,719 shares of the company’s stock worth $4,929,000 after purchasing an additional 160,709 shares during the period. Los Angeles Capital Management LLC grew its position 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 valued at $1,980,000 after purchasing an additional 140,260 shares in the last quarter. American Century Companies Inc. increased its stake in Ambac Financial Group by 20.6% in the 3rd quarter. American Century Companies Inc. now owns 427,678 shares of the company’s stock valued at $5,158,000 after buying an additional 73,191 shares during the period. Finally, Federated Hermes Inc. lifted its position in Ambac Financial Group by 1,133.7% in the 4th quarter. Federated Hermes Inc. now owns 76,134 shares of the company’s stock worth $1,255,000 after buying an additional 69,963 shares in the last quarter. 84.49% of the stock is currently owned by institutional investors and hedge funds.

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.