Northern Trust Corp Increases Stake in Ambac Financial Group, Inc. (AMBC)

Northern Trust Corp grew its holdings in shares of Ambac Financial Group, Inc. (NASDAQ:AMBC) by 3.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 565,993 shares of the financial services provider’s stock after buying an additional 20,604 shares during the period. Northern Trust Corp owned 1.25% of Ambac Financial Group worth $11,235,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Glen Harbor Capital Management LLC bought a new stake in shares of Ambac Financial Group during the 2nd quarter valued at $115,000. SG3 Management LLC boosted its holdings in shares of Ambac Financial Group by 160.0% during the 2nd quarter. SG3 Management LLC now owns 7,500 shares of the financial services provider’s stock valued at $149,000 after buying an additional 20,000 shares in the last quarter. Globeflex Capital L P bought a new stake in shares of Ambac Financial Group during the 2nd quarter valued at $159,000. Meadow Creek Investment Management LLC bought a new stake in shares of Ambac Financial Group during the 2nd quarter valued at $178,000. Finally, Algert Global LLC bought a new stake in shares of Ambac Financial Group during the 2nd quarter valued at $199,000. Hedge funds and other institutional investors own 80.82% of the company’s stock.

AMBC opened at $19.40 on Friday. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 6.90. The stock has a market capitalization of $950.62 million, a PE ratio of 4.35 and a beta of 1.50. Ambac Financial Group, Inc. has a 1 year low of $13.22 and a 1 year high of $23.34.

Ambac Financial Group (NASDAQ:AMBC) last posted its quarterly earnings results on Wednesday, November 7th. The financial services provider reported ($1.66) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($1.96). The company had revenue of $134.00 million during the quarter, compared to analysts’ expectations of $96.21 million. Ambac Financial Group had a return on equity of 11.70% and a net margin of 15.40%. Ambac Financial Group’s revenue for the quarter was up .8% compared to the same quarter last year. During the same period in the prior year, the firm earned ($3.30) EPS.

Several equities analysts have recently issued reports on AMBC shares. BidaskClub raised Ambac Financial Group from a “hold” rating to a “buy” rating in a research report on Wednesday, October 31st. ValuEngine raised Ambac Financial Group from a “hold” rating to a “buy” rating in a research report on Tuesday, October 30th.

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Ambac Financial Group Profile

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.

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

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