Ambac Financial Group, Inc. (NYSE:AMBC) Shares Acquired by State Street Corp

State Street Corp boosted its holdings in shares of Ambac Financial Group, Inc. (NYSE:AMBC - Free Report) by 2.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,653,544 shares of the company's stock after acquiring an additional 42,504 shares during the period. State Street Corp owned about 3.49% of Ambac Financial Group worth $18,536,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Ambac Financial Group by 20.0% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,826 shares of the company's stock worth $126,000 after purchasing an additional 1,637 shares in the last quarter. nVerses Capital LLC grew its holdings in shares of Ambac Financial Group by 525.0% during the second 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. Versor Investments LP acquired a new position in shares of Ambac Financial Group in the second quarter valued at approximately $218,000. Jackson Creek Investment Advisors LLC purchased a new position in shares of Ambac Financial Group during the second quarter valued at approximately $817,000. Finally, Texas Permanent School Fund Corp boosted its position in Ambac Financial Group by 26.1% during the second quarter. Texas Permanent School Fund Corp now owns 49,890 shares of the company's stock worth $640,000 after acquiring an additional 10,336 shares during the last quarter. 84.49% of the stock is currently owned by institutional investors and hedge funds.

Ambac Financial Group Stock Up 2.7 %

AMBC stock traded up $0.32 during trading on Tuesday, reaching $12.32. The stock had a trading volume of 205,016 shares, compared to its average volume of 484,783. The firm has a fifty day moving average price of $12.21 and a 200 day moving average price of $11.96. 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 capitalization of $584.50 million, a P/E ratio of -26.78 and a beta of 1.25. Ambac Financial Group, Inc. has a 1-year low of $10.12 and a 1-year high of $18.45.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on AMBC. Roth Mkm upgraded Ambac Financial Group from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $13.00 to $15.00 in a report on Wednesday, September 18th. Roth Capital upgraded Ambac Financial Group from a "hold" rating to a "strong-buy" rating in a report on Wednesday, September 18th.

Insiders Place Their Bets

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