TIAA CREF Investment Management LLC Reduces Stake in Ambac Financial Group, Inc. (AMBC)

TIAA CREF Investment Management LLC lessened its position in Ambac Financial Group, Inc. (NASDAQ:AMBC) by 6.4% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 93,781 shares of the financial services provider’s stock after selling 6,377 shares during the period. TIAA CREF Investment Management LLC owned approximately 0.21% of Ambac Financial Group worth $1,915,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. United Services Automobile Association raised its stake in shares of Ambac Financial Group by 31.0% in the 2nd quarter. United Services Automobile Association now owns 13,634 shares of the financial services provider’s stock worth $271,000 after buying an additional 3,224 shares in the last quarter. Teachers Advisors LLC raised its stake in shares of Ambac Financial Group by 3.8% in the 3rd quarter. Teachers Advisors LLC now owns 87,369 shares of the financial services provider’s stock worth $1,784,000 after buying an additional 3,238 shares in the last quarter. Wells Fargo & Company MN grew its holdings in shares of Ambac Financial Group by 6.3% in the 3rd quarter. Wells Fargo & Company MN now owns 91,985 shares of the financial services provider’s stock worth $1,879,000 after acquiring an additional 5,426 shares during the last quarter. Globeflex Capital L P grew its holdings in shares of Ambac Financial Group by 90.3% in the 3rd quarter. Globeflex Capital L P now owns 15,222 shares of the financial services provider’s stock worth $311,000 after acquiring an additional 7,222 shares during the last quarter. Finally, MetLife Investment Advisors LLC grew its holdings in shares of Ambac Financial Group by 47.6% in the 3rd quarter. MetLife Investment Advisors LLC now owns 33,120 shares of the financial services provider’s stock worth $676,000 after acquiring an additional 10,676 shares during the last quarter. 77.68% of the stock is currently owned by institutional investors.

Shares of NASDAQ AMBC opened at $19.28 on Wednesday. The company has a debt-to-equity ratio of 4.74, a quick ratio of 1.06 and a current ratio of 1.06. The firm has a market capitalization of $862.75 million, a P/E ratio of 2.95 and a beta of 1.21. Ambac Financial Group, Inc. has a 52-week low of $13.96 and a 52-week high of $23.34.

Ambac Financial Group (NASDAQ:AMBC) last issued its earnings results on Wednesday, November 7th. The financial services provider reported ($1.66) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.30 by ($1.96). The company had revenue of $134.00 million during the quarter, compared to analyst estimates of $96.21 million. Ambac Financial Group had a return on equity of 15.53% and a net margin of 28.81%. The business’s revenue was up .8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($3.30) earnings per share.

AMBC has been the topic of a number of recent research reports. BidaskClub upgraded Ambac Financial Group from a “hold” rating to a “buy” rating in a report on Monday, January 7th. ValuEngine upgraded Ambac Financial Group from a “hold” rating to a “buy” rating in a report on Tuesday, October 30th. Finally, TheStreet upgraded Ambac Financial Group from a “d+” rating to a “c” rating in a report on Wednesday, November 14th. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Ambac Financial Group currently has an average rating of “Buy” and a consensus price target of $20.00.

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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.

Further Reading: Benefits of owning preferred stock

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

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