Ambac Financial Group (NYSE:AMBC) Given New $19.00 Price Target at Compass Point

Ambac Financial Group (NYSE:AMBC) had its price target lifted by Compass Point from $18.00 to $19.00 in a research note published on Wednesday morning, Benzinga reports. Compass Point currently has a buy rating on the stock.

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

Ambac Financial Group Stock Performance

Shares of AMBC stock opened at $18.37 on Wednesday. The company has a market cap of $830.69 million, a price-to-earnings ratio of 122.14 and a beta of 1.30. Ambac Financial Group has a 52 week low of $11.26 and a 52 week high of $18.45. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 2.46. The firm has a 50 day moving average of $15.19 and a 200-day moving average of $15.23.

Ambac Financial Group (NYSE:AMBC) last announced its quarterly earnings data on Monday, May 6th. The company reported $0.82 EPS for the quarter, topping the consensus estimate of $0.21 by $0.61. The company had revenue of $103.00 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 last year, the business earned ($0.30) EPS. On average, equities analysts forecast that Ambac Financial Group will post 0.45 earnings per share for the current year.

Hedge Funds Weigh In On Ambac Financial Group

Several large investors have recently bought and sold shares of the stock. Hsbc Holdings PLC raised its stake in shares of Ambac Financial Group by 27.3% during the 3rd quarter. Hsbc Holdings PLC now owns 305,185 shares of the company’s stock worth $3,723,000 after purchasing an additional 65,366 shares during the period. Cornerstone Investment Partners LLC bought a new stake in shares of Ambac Financial Group during the 4th quarter worth $178,000. Invesco Ltd. raised its stake in shares of Ambac Financial Group by 5.9% during the 3rd quarter. Invesco Ltd. now owns 885,456 shares of the company’s stock worth $10,679,000 after purchasing an additional 49,529 shares during the period. American Century Companies Inc. raised its stake in shares of Ambac Financial Group by 20.6% during the 3rd quarter. American Century Companies Inc. now owns 427,678 shares of the company’s stock worth $5,158,000 after purchasing an additional 73,191 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Ambac Financial Group by 2.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 640,084 shares of the company’s stock worth $7,719,000 after purchasing an additional 14,466 shares during the period. 84.49% of the stock is currently owned by institutional investors.

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.