United Services Automobile Association boosted its stake in shares of Ambac Financial Group, Inc. (NASDAQ:AMBC) by 31.0% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 13,634 shares of the financial services provider’s stock after acquiring an additional 3,224 shares during the period. United Services Automobile Association’s holdings in Ambac Financial Group were worth $271,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of AMBC. Gendell Jeffrey L lifted its holdings in Ambac Financial Group by 54.8% during the first quarter. Gendell Jeffrey L now owns 1,076,144 shares of the financial services provider’s stock worth $16,874,000 after buying an additional 381,084 shares during the period. Bank of New York Mellon Corp increased its position in shares of Ambac Financial Group by 140.8% during the second quarter. Bank of New York Mellon Corp now owns 512,595 shares of the financial services provider’s stock worth $10,175,000 after purchasing an additional 299,739 shares in the last quarter. Chicago Equity Partners LLC acquired a new position in shares of Ambac Financial Group during the second quarter worth $5,799,000. Schwab Charles Investment Management Inc. increased its position in shares of Ambac Financial Group by 34.9% during the second quarter. Schwab Charles Investment Management Inc. now owns 633,882 shares of the financial services provider’s stock worth $12,583,000 after purchasing an additional 164,149 shares in the last quarter. Finally, ING Groep NV acquired a new position in shares of Ambac Financial Group during the second quarter worth $2,978,000. Institutional investors own 80.70% of the company’s stock.

AMBC has been the topic of a number of recent analyst reports. BidaskClub raised Ambac Financial Group from a “hold” rating to a “buy” rating in a research report on Friday, May 18th. MKM Partners upped their price target on Ambac Financial Group to $20.00 and gave the stock a “neutral” rating in a research report on Friday, June 29th.

Shares of AMBC stock opened at $21.19 on Wednesday. The firm has a market cap of $957.42 million, a PE ratio of 4.38 and a beta of 1.65. The company has a debt-to-equity ratio of 6.90, a quick ratio of 0.99 and a current ratio of 0.99. Ambac Financial Group, Inc. has a 12-month low of $13.17 and a 12-month high of $23.34.

Ambac Financial Group (NASDAQ:AMBC) last issued its quarterly earnings results on Wednesday, August 8th. The financial services provider reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.21. The business had revenue of $150.64 million for the quarter, compared to the consensus estimate of $146.37 million. Ambac Financial Group had a return on equity of 11.70% and a net margin of 15.40%. The business’s quarterly revenue was down 12.9% on a year-over-year basis. During the same period in the prior year, the firm posted $1.54 earnings per share.

About Ambac Financial Group

Ambac Financial Group, Inc, a financial services holding company, provides financial guarantees to clients in public and private sectors worldwide. It offers financial guarantee insurance policies and credit derivative contracts for public finance, structured finance, and international finance. The company was founded in 1971 and is headquartered in New York, New York.

Further Reading: Closed-End Mutual Funds (CEFs)

Want to see what other hedge funds are holding AMBC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ambac Financial Group, Inc. (NASDAQ:AMBC).

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

Receive News & Ratings for Ambac Financial Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ambac Financial Group and related companies with MarketBeat.com's FREE daily email newsletter.