Norges Bank Takes Position in Ambac Financial Group, Inc. (NYSE:AMBC)

Norges Bank bought a new position in shares of Ambac Financial Group, Inc. (NYSE:AMBC - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 263,100 shares of the company's stock, valued at approximately $3,328,000. Norges Bank owned 0.55% of Ambac Financial Group at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in AMBC. BNP Paribas Financial Markets boosted its position in shares of Ambac Financial Group by 40.5% during the third quarter. BNP Paribas Financial Markets now owns 31,484 shares of the company's stock worth $353,000 after acquiring an additional 9,073 shares during the last quarter. HighTower Advisors LLC boosted its stake in Ambac Financial Group by 44.5% during the third quarter. HighTower Advisors LLC now owns 36,593 shares of the company's stock valued at $415,000 after buying an additional 11,271 shares during the last quarter. State Street Corp grew its holdings in 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. XTX Topco Ltd bought a new stake in Ambac Financial Group in the 3rd quarter worth approximately $172,000. Finally, Barclays PLC raised its holdings in shares of Ambac Financial Group by 30.9% during the 3rd quarter. Barclays PLC now owns 376,102 shares of the company's stock worth $4,216,000 after acquiring an additional 88,863 shares in the last quarter. Hedge funds and other institutional investors own 84.49% of the company's stock.

Ambac Financial Group Price Performance

AMBC traded up $0.23 during trading hours on Wednesday, hitting $7.23. The company's stock had a trading volume of 146,083 shares, compared to its average volume of 659,913. Ambac Financial Group, Inc. has a 12 month low of $6.33 and a 12 month high of $18.45. 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 business's 50-day moving average price is $9.18 and its 200-day moving average price is $10.97. The stock has a market cap of $334.24 million, a price-to-earnings ratio of -15.66 and a beta of 1.09.

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Ambac Financial Group (NYSE:AMBC - Get Free Report) last announced its earnings results on Wednesday, February 26th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts' expectations of $24.83 million. Sell-side analysts expect that Ambac Financial Group, Inc. will post 0.6 earnings per share for the current fiscal year.

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.