Charles Schwab Investment Management Inc. Sells 45,669 Shares of Ambac Financial Group, Inc. (NYSE:AMBC)

Charles Schwab Investment Management Inc. reduced its position in shares of Ambac Financial Group, Inc. (NYSE:AMBC - Free Report) by 7.6% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 553,399 shares of the company's stock after selling 45,669 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.17% of Ambac Financial Group worth $6,204,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Quarry LP increased its stake in shares of Ambac Financial Group by 830.7% in the second quarter. Quarry LP now owns 2,364 shares of the company's stock worth $30,000 after purchasing an additional 2,110 shares in the last quarter. nVerses Capital LLC increased its stake in Ambac Financial Group by 525.0% in the 2nd quarter. nVerses Capital LLC now owns 5,000 shares of the company's stock worth $64,000 after buying an additional 4,200 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Ambac Financial Group by 20.0% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,826 shares of the company's stock valued at $126,000 after acquiring an additional 1,637 shares during the period. Creative Planning purchased a new position in shares of Ambac Financial Group in the third quarter valued at about $156,000. Finally, SG Americas Securities LLC bought a new position in shares of Ambac Financial Group in the third quarter worth about $185,000. 84.49% of the stock is owned by hedge funds and other institutional investors.

Ambac Financial Group Price Performance

Shares of AMBC traded up $0.04 during mid-day trading on Thursday, hitting $13.26. 417,724 shares of the stock were exchanged, compared to its average volume of 470,493. The company has a debt-to-equity ratio of 2.10, a quick ratio of 0.58 and a current ratio of 0.58. The company has a market cap of $629.09 million, a PE ratio of -28.74 and a beta of 1.25. Ambac Financial Group, Inc. has a 52-week low of $10.12 and a 52-week high of $18.45. The firm has a 50-day moving average of $11.95 and a two-hundred day moving average of $12.20.

Wall Street Analyst Weigh In

AMBC has been the topic of a number of research analyst reports. Roth Mkm raised Ambac Financial Group from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $13.00 to $15.00 in a report on Wednesday, September 18th. Roth Capital upgraded shares of Ambac Financial Group from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, September 18th. Finally, StockNews.com cut shares of Ambac Financial Group from a "hold" rating to a "sell" rating in a research note on Wednesday, August 14th.

Insiders Place Their Bets

In other Ambac Financial Group news, Director Kristi Ann Matus bought 2,700 shares of Ambac Financial Group stock in a transaction on Thursday, September 26th. The shares were acquired at an average price of $11.27 per share, for a total transaction of $30,429.00. Following the completion of the purchase, the director now directly owns 2,700 shares in the company, valued at approximately $30,429. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 5.00% of the stock is currently owned by insiders.

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.