Charles Schwab Investment Management Inc. Reduces Stock Holdings in Ambac Financial Group, Inc. (NYSE:AMBC)

Charles Schwab Investment Management Inc. cut its stake in shares of Ambac Financial Group, Inc. (NYSE:AMBC - Free Report) by 8.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 505,126 shares of the company's stock after selling 48,273 shares during the period. Charles Schwab Investment Management Inc. owned about 1.06% of Ambac Financial Group worth $6,390,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. State Street Corp lifted its stake in shares of Ambac Financial Group by 2.6% during the 3rd quarter. State Street Corp now owns 1,653,544 shares of the company's stock valued at $18,536,000 after buying an additional 42,504 shares in the last quarter. Barclays PLC raised its holdings in Ambac Financial Group by 30.9% during the third quarter. Barclays PLC now owns 376,102 shares of the company's stock valued at $4,216,000 after acquiring an additional 88,863 shares during the period. Geode Capital Management LLC lifted its position in shares of Ambac Financial Group by 2.9% in the third quarter. Geode Capital Management LLC now owns 1,028,956 shares of the company's stock valued at $11,537,000 after acquiring an additional 28,573 shares in the last quarter. VELA Investment Management LLC bought a new position in shares of Ambac Financial Group in the fourth quarter worth about $792,000. Finally, Principal Financial Group Inc. grew its position in shares of Ambac Financial Group by 2.9% during the fourth quarter. Principal Financial Group Inc. now owns 229,954 shares of the company's stock worth $2,909,000 after purchasing an additional 6,589 shares in the last quarter. 84.49% of the stock is owned by institutional investors.

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Ambac Financial Group Price Performance

AMBC traded down $0.24 during trading on Friday, hitting $8.65. 1,269,209 shares of the company traded hands, compared to its average volume of 620,493. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 2.10. The company has a market cap of $400.18 million, a PE ratio of -18.81 and a beta of 1.26. The stock's 50-day simple moving average is $10.43 and its two-hundred day simple moving average is $11.37. Ambac Financial Group, Inc. has a 1 year low of $7.92 and a 1 year high of $18.45.

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

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.