Ambac Financial Group, Inc. (NYSE:AMBC) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp trimmed its stake in shares of Ambac Financial Group, Inc. (NYSE:AMBC - Free Report) by 21.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 296,219 shares of the company's stock after selling 82,559 shares during the quarter. Bank of New York Mellon Corp owned about 0.62% of Ambac Financial Group worth $3,747,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Point72 DIFC Ltd acquired a new stake in Ambac Financial Group during the 3rd quarter worth approximately $46,000. XTX Topco Ltd purchased a new position in shares of Ambac Financial Group during the 3rd quarter worth approximately $172,000. Wexford Capital LP purchased a new position in shares of Ambac Financial Group during the 3rd quarter worth approximately $202,000. Intech Investment Management LLC raised its stake in shares of Ambac Financial Group by 47.6% during the 3rd quarter. Intech Investment Management LLC now owns 23,708 shares of the company's stock worth $266,000 after buying an additional 7,644 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd raised its stake in shares of Ambac Financial Group by 81.1% during the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 24,044 shares of the company's stock worth $270,000 after buying an additional 10,768 shares in the last quarter. 84.49% of the stock is owned by institutional investors and hedge funds.

Ambac Financial Group Stock Performance

Shares of AMBC stock traded up $0.18 during trading hours on Friday, reaching $8.78. 10,492,105 shares of the company's stock were exchanged, compared to its average volume of 585,497. The company has a market cap of $406.19 million, a P/E ratio of -19.10 and a beta of 1.26. The company's 50 day moving average is $10.62 and its two-hundred day moving average is $11.43. Ambac Financial Group, Inc. has a 1 year low of $7.92 and a 1 year high of $18.45. The company has a debt-to-equity ratio of 2.10, a current ratio of 0.58 and a quick ratio of 0.58.

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Ambac Financial Group (NYSE:AMBC - Get Free Report) last issued its earnings results on Wednesday, February 26th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.06 by ($0.18). The business had revenue of $18.93 million for the quarter, compared to analysts' expectations of $24.83 million. Ambac Financial Group had a positive return on equity of 2.51% and a negative net margin of 6.28%. Equities research analysts anticipate that Ambac Financial Group, Inc. will post 0.6 EPS for the current fiscal year.

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.