Federated Hermes Inc. Grows Holdings in Ambac Financial Group, Inc. (NYSE:AMBC)

Federated Hermes Inc. increased its holdings in shares of Ambac Financial Group, Inc. (NYSE:AMBC) by 1,133.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 76,134 shares of the company’s stock after purchasing an additional 69,963 shares during the period. Federated Hermes Inc. owned 0.17% of Ambac Financial Group worth $1,255,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. FMR LLC lifted its holdings in shares of Ambac Financial Group by 1.3% during the third quarter. FMR LLC now owns 2,020,168 shares of the company’s stock worth $24,363,000 after purchasing an additional 26,012 shares during the period. Invesco Ltd. lifted its stake in shares of Ambac Financial Group by 5.9% in the 3rd quarter. Invesco Ltd. now owns 885,456 shares of the company’s stock worth $10,679,000 after acquiring an additional 49,529 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Ambac Financial Group by 2.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 640,084 shares of the company’s stock worth $7,719,000 after acquiring an additional 14,466 shares during the period. American Century Companies Inc. boosted its holdings in shares of Ambac Financial Group by 20.6% in the third quarter. American Century Companies Inc. now owns 427,678 shares of the company’s stock valued at $5,158,000 after acquiring an additional 73,191 shares in the last quarter. Finally, Jupiter Asset Management Ltd. increased its stake in shares of Ambac Financial Group by 64.8% during the third quarter. Jupiter Asset Management Ltd. now owns 408,719 shares of the company’s stock worth $4,929,000 after acquiring an additional 160,709 shares during the period. 84.49% of the stock is owned by hedge funds and other institutional investors.

Ambac Financial Group Trading Up 1.1 %

Shares of AMBC stock opened at $14.75 on Tuesday. The business’s fifty day moving average price is $15.29 and its 200 day moving average price is $15.05. The firm has a market capitalization of $667.07 million, a PE ratio of 98.33 and a beta of 1.30. 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, Inc. has a 1-year low of $11.26 and a 1-year high of $17.80.

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

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered Ambac Financial Group from a “hold” rating to a “sell” rating in a report on Friday.

About Ambac Financial Group

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.