First Trust Advisors LP lowered its position in Ambac Financial Group, Inc. (NASDAQ:AMBC) by 3.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 110,036 shares of the financial services provider’s stock after selling 4,291 shares during the period. First Trust Advisors LP owned about 0.24% of Ambac Financial Group worth $1,909,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Harbor Advisors LLC raised its holdings in shares of Ambac Financial Group by 2.2% in the first quarter. Harbor Advisors LLC now owns 230,617 shares of the financial services provider’s stock valued at $4,349,000 after purchasing an additional 5,000 shares during the last quarter. Evermore Global Advisors LLC raised its holdings in shares of Ambac Financial Group by 5.6% in the first quarter. Evermore Global Advisors LLC now owns 716,953 shares of the financial services provider’s stock valued at $13,522,000 after purchasing an additional 38,000 shares during the last quarter. Tudor Investment Corp ET AL raised its holdings in shares of Ambac Financial Group by 79.0% in the first quarter. Tudor Investment Corp ET AL now owns 18,800 shares of the financial services provider’s stock valued at $355,000 after purchasing an additional 8,300 shares during the last quarter. State Street Corp raised its holdings in shares of Ambac Financial Group by 0.8% in the first quarter. State Street Corp now owns 868,395 shares of the financial services provider’s stock valued at $16,381,000 after purchasing an additional 6,732 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA purchased a new stake in shares of Ambac Financial Group in the first quarter valued at about $755,000. Institutional investors own 72.95% of the company’s stock.

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Shares of Ambac Financial Group, Inc. (AMBC) opened at 18.13 on Wednesday. Ambac Financial Group, Inc. has a one year low of $15.67 and a one year high of $27.25. The stock’s market cap is $820.40 million. The stock has a 50 day moving average of $18.93 and a 200 day moving average of $18.49.

Ambac Financial Group (NASDAQ:AMBC) last announced its quarterly earnings results on Wednesday, August 9th. The financial services provider reported $1.54 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.22 by $0.32. The company had revenue of $172.85 million for the quarter, compared to analysts’ expectations of $127.75 million. Ambac Financial Group had a negative net margin of 16.39% and a positive return on equity of 5.74%. Ambac Financial Group’s revenue was up 36.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.54 EPS. On average, analysts forecast that Ambac Financial Group, Inc. will post $1.63 EPS for the current year.

Several analysts have recently commented on the stock. MKM Partners reiterated a “neutral” rating and issued a $21.00 target price (up previously from $17.00) on shares of Ambac Financial Group in a report on Tuesday, July 25th. BTIG Research reiterated a “buy” rating and issued a $26.00 target price on shares of Ambac Financial Group in a report on Saturday, July 22nd.

About Ambac Financial Group

Ambac Financial Group, Inc, a financial services holding company, provides financial guarantees and other financial services to clients in both the public and private sectors worldwide. It operates through two segments, Financial Guarantee and Financial Services. The Financial Guarantee segment provides financial guarantees, including insurance policies and credit derivative contracts for public finance, structured finance, and international obligations.

Institutional Ownership by Quarter for Ambac Financial Group (NASDAQ:AMBC)

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