Cornerstone Investment Partners LLC Acquires New Holdings in Ambac Financial Group, Inc. (NYSE:AMBC)

Cornerstone Investment Partners LLC purchased a new position in Ambac Financial Group, Inc. (NYSE:AMBC) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 10,807 shares of the company’s stock, valued at approximately $178,000.

Several other institutional investors have also added to or reduced their stakes in AMBC. Arrowstreet Capital Limited Partnership raised its position in Ambac Financial Group by 1,426.1% in the first quarter. Arrowstreet Capital Limited Partnership now owns 913,665 shares of the company’s stock worth $14,144,000 after acquiring an additional 853,797 shares during the period. JPMorgan Chase & Co. raised its position in Ambac Financial Group by 613.2% in the first quarter. JPMorgan Chase & Co. now owns 823,450 shares of the company’s stock worth $12,747,000 after acquiring an additional 707,991 shares during the period. Millennium Management LLC raised its position in Ambac Financial Group by 1,802.3% in the fourth quarter. Millennium Management LLC now owns 458,086 shares of the company’s stock worth $7,989,000 after acquiring an additional 434,005 shares during the period. AQR Capital Management LLC bought a new position in Ambac Financial Group in the fourth quarter worth approximately $6,943,000. Finally, Norges Bank bought a new position in Ambac Financial Group in the fourth quarter worth approximately $5,640,000. 84.49% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of Ambac Financial Group from a “sell” rating to a “hold” rating in a research report on Monday, April 8th.

Ambac Financial Group Stock Up 2.8 %

Shares of AMBC stock opened at $14.40 on Friday. The company has a market capitalization of $651.17 million, a price-to-earnings ratio of 96.01 and a beta of 1.30. Ambac Financial Group, Inc. has a one year low of $11.26 and a one year high of $17.80. The company’s fifty day moving average price is $15.44 and its 200-day moving average price is $14.91. The company has a debt-to-equity ratio of 2.46, a current ratio of 0.72 and a quick ratio of 0.72.

Ambac Financial Group (NYSE:AMBC) last posted its earnings results on Wednesday, February 28th. The company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.29. The company had revenue of $76.00 million during the quarter. Ambac Financial Group had a net margin of 1.48% and a return on equity of 6.99%. During the same period in the previous year, the business posted $4.18 earnings per share. Sell-side analysts expect that Ambac Financial Group, Inc. will post 0.45 EPS for the current fiscal year.

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.