Renaissance Technologies LLC Decreases Holdings in Ambac Financial Group, Inc. (NYSE:AMBC)

Renaissance Technologies LLC cut its stake in Ambac Financial Group, Inc. (NYSE:AMBC - Free Report) by 28.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 117,244 shares of the company's stock after selling 47,100 shares during the period. Renaissance Technologies LLC owned 0.26% of Ambac Financial Group worth $1,503,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its position in shares of Ambac Financial Group by 3.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,952,961 shares of the company's stock valued at $37,857,000 after purchasing an additional 87,077 shares in the last quarter. American Century Companies Inc. grew its position in shares of Ambac Financial Group by 19.0% during the 2nd quarter. American Century Companies Inc. now owns 797,096 shares of the company's stock worth $10,219,000 after buying an additional 127,145 shares during the period. Texas Permanent School Fund Corp increased its stake in shares of Ambac Financial Group by 26.1% in the 2nd quarter. Texas Permanent School Fund Corp now owns 49,890 shares of the company's stock valued at $640,000 after acquiring an additional 10,336 shares in the last quarter. Jackson Creek Investment Advisors LLC acquired a new position in shares of Ambac Financial Group during the 2nd quarter valued at $817,000. Finally, Versor Investments LP acquired a new position in shares of Ambac Financial Group during the 2nd quarter valued at $218,000. Institutional investors and hedge funds own 84.49% of the company's stock.

Ambac Financial Group Stock Up 0.2 %

AMBC stock traded up $0.02 during trading on Friday, reaching $11.15. The stock had a trading volume of 412,945 shares, compared to its average volume of 451,868. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 2.37. The company has a market capitalization of $504.26 million, a price-to-earnings ratio of 8.51 and a beta of 1.24. Ambac Financial Group, Inc. has a one year low of $10.12 and a one year high of $18.45. The company's 50 day moving average is $11.33 and its two-hundred day moving average is $13.51.

Ambac Financial Group (NYSE:AMBC - Get Free Report) last announced its earnings results on Monday, August 5th. The company reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.01). The business had revenue of $105.00 million for the quarter. Ambac Financial Group had a net margin of 19.27% and a return on equity of 10.79%. During the same period in the previous year, the company posted $0.07 earnings per share. Equities research analysts forecast that Ambac Financial Group, Inc. will post 1.3 EPS for the current year.

Insider Buying and Selling at Ambac Financial Group

In other Ambac Financial Group news, Director Jeffrey Scott Stein purchased 25,000 shares of the company's stock in a transaction that occurred on Wednesday, August 7th. The shares were bought at an average cost of $10.82 per share, for a total transaction of $270,500.00. Following the purchase, the director now owns 35,000 shares of the company's stock, valued at $378,700. This represents a 200.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO David Trick purchased 3,700 shares of the firm's stock in a transaction dated Wednesday, August 7th. The shares were purchased at an average cost of $10.76 per share, for a total transaction of $39,812.00. Following the completion of the transaction, the chief financial officer now directly owns 156,082 shares in the company, valued at approximately $1,679,442.32. This represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Jeffrey Scott Stein acquired 25,000 shares of the business's stock in a transaction dated Wednesday, August 7th. The stock was purchased at an average price of $10.82 per share, with a total value of $270,500.00. Following the completion of the transaction, the director now directly owns 35,000 shares of the company's stock, valued at $378,700. This trade represents a 200.00 % increase in their position. The disclosure for this purchase can be found here. Insiders have bought a total of 37,500 shares of company stock worth $407,445 over the last ninety days. 5.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms have weighed in on AMBC. Roth Mkm raised shares of Ambac Financial Group from a "neutral" rating to a "buy" rating and lifted their price target for the company from $13.00 to $15.00 in a research note on Wednesday, September 18th. StockNews.com cut Ambac Financial Group from a "hold" rating to a "sell" rating in a research note on Wednesday, August 14th. Finally, Roth Capital raised shares of Ambac Financial Group from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, September 18th.

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.