Ambac Financial Group (NYSE:AMBC) Price Target Raised to $19.00 at Compass Point

Ambac Financial Group (NYSE:AMBC) had its target price boosted by stock analysts at Compass Point from $18.00 to $19.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Compass Point’s price objective points to a potential upside of 3.43% from the company’s previous close.

Separately, StockNews.com raised shares of Ambac Financial Group from a “sell” rating to a “hold” rating in a report on Wednesday.

Ambac Financial Group Price Performance

Shares of NYSE AMBC traded up $0.33 during midday trading on Wednesday, reaching $18.37. The stock had a trading volume of 525,858 shares, compared to its average volume of 384,382. The company has a market capitalization of $830.69 million, a price-to-earnings ratio of 121.74 and a beta of 1.30. Ambac Financial Group has a 12-month low of $11.26 and a 12-month high of $18.38. The stock has a 50-day moving average of $15.16 and a 200-day moving average of $15.21. The company has a debt-to-equity ratio of 2.46, a quick ratio of 0.72 and a current ratio of 0.72.

Ambac Financial Group (NYSE:AMBC) last posted its quarterly earnings results on Monday, May 6th. The company reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.61. The business had revenue of $103.00 million for the quarter. Ambac Financial Group had a return on equity of 6.99% and a net margin of 1.48%. During the same period in the prior year, the business earned ($0.30) earnings per share. As a group, research analysts anticipate that Ambac Financial Group will post 0.45 EPS for the current fiscal year.

Institutional Trading of Ambac Financial Group

Several hedge funds have recently modified their holdings of the company. Sei Investments Co. raised its stake in Ambac Financial Group by 30.1% during the first quarter. Sei Investments Co. now owns 29,714 shares of the company’s stock valued at $464,000 after purchasing an additional 6,879 shares in the last quarter. Illinois Municipal Retirement Fund lifted its holdings in shares of Ambac Financial Group by 4.9% in the 1st quarter. Illinois Municipal Retirement Fund now owns 27,952 shares of the company’s stock valued at $437,000 after acquiring an additional 1,307 shares during the last quarter. Empowered Funds LLC grew its position in Ambac Financial Group by 8.8% in the first quarter. Empowered Funds LLC now owns 154,084 shares of the company’s stock worth $2,408,000 after acquiring an additional 12,457 shares in the last quarter. Texas Permanent School Fund Corp increased its stake in Ambac Financial Group by 2.0% during the first quarter. Texas Permanent School Fund Corp now owns 39,554 shares of the company’s stock worth $618,000 after acquiring an additional 770 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its position in Ambac Financial Group by 55.3% during the first quarter. BNP Paribas Financial Markets now owns 23,370 shares of the company’s stock valued at $365,000 after purchasing an additional 8,318 shares during the period. 84.49% of the stock is owned by hedge funds and other institutional investors.

Ambac Financial Group Company 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.