Streetbeat News

AMBC

Ambac Financial Group, Inc.

https://www.ambac.com

Industry

Insurance - Specialty

Ambac Financial Group, Inc., a financial services holding company, provides financial guarantees in the United States, the United Kingdom, Italy, Austria, Australia, France, and Internationally. It offers financial guarantee insurance policies; specialty property & casualty program insurance; credit derivative contracts; and interest rate derivative transactions, as well as managing general agency / underwriting services. The company was incorporated in 1991 and is headquartered in New York, New York.

Open

11.30

Mkt cap

541M

Volume

384K

High

11.41

P/E Ratio

7.09

52-wk high

18.45

Low

11.26

Div yield

N/A

52-wk low

10.12

Ambac Financial Group's shares have risen by 10% recently as the company plans to sell its financial guarantee business by year-end. Analyst Harry Fong upgraded the stock to 'Buy' with a price target of $15, citing potential cash earnings and a $50 million share repurchase program post-sale.

Portfolio Pulse from Priya Nigam

September 18, 2024 | 2:38 pm

Ambac Financial Group's stock price increased following an upgrade by Roth MKM from Neutral to Buy, with a price target raised from $13 to $15.

Portfolio Pulse from Benzinga Newsdesk

September 18, 2024 | 2:15 pm

Roth MKM has upgraded Ambac Financial Group (NYSE:AMBC) from Neutral to Buy, increasing the price target from $13 to $15.

Portfolio Pulse from Benzinga Newsdesk

September 18, 2024 | 11:29 am

Ambac Financial Group (NYSE:AMBC) reported Q2 2024 earnings of $0.18 per share, beating the analyst estimate of $0.15 by 20%. Sales were $105 million, surpassing the $73.3 million estimate by 43.25%. This represents a significant year-over-year increase in both earnings and sales.

Portfolio Pulse from Benzinga Newsdesk

August 05, 2024 | 8:45 pm

Ambac Financial Group has launched Tara Hill Insurance Services, appointing Peter McKeegan as CEO. Tara Hill will specialize in management and professional liability and will be part of the Cirrata Group.

Portfolio Pulse from Benzinga Newsdesk

June 24, 2024 | 12:33 pm

Lands' End, Inc. (NASDAQ:LE) shares fell 9.3% to $12.60 after reporting a quarterly adjusted loss of 20 cents per share, which beat the analyst consensus estimate of 26 cents per share. The company also reported quarterly sales of $285.47 million, surpassing the analyst consensus estimate of $269.82 million. Other notable stock movements include Actelis Networks, Inc. (NASDAQ:ASNS) jumping 512% after announcing orders for cyber-hardened networking technology, and WalkMe Ltd. (NASDAQ:WKME) gaining 42.1% after entering into a definitive agreement to be acquired by SAP.

Portfolio Pulse from Avi Kapoor

June 05, 2024 | 5:04 pm

Ambac Financial Group shares are trading lower after announcing a definitive agreement to acquire a 60% controlling stake in Beat Capital Partners and to sell its legacy financial guarantee business.

Portfolio Pulse from Benzinga Newsdesk

June 05, 2024 | 3:50 pm

Ambac Financial Group has signed a definitive agreement to sell its legacy financial guarantee businesses, Ambac Assurance Corporation and Ambac UK, to funds managed by Oaktree Capital Management for $420 million in cash.

Portfolio Pulse from Benzinga Newsdesk

June 05, 2024 | 10:36 am

Ambac Financial Group has signed a definitive agreement to acquire a 60% controlling stake in Beat Capital Partners Limited for approximately $282 million. Up to $40 million of this amount will be paid in shares of Ambac common stock, with the remainder paid in cash.

Portfolio Pulse from Benzinga Newsdesk

June 05, 2024 | 10:34 am

Compass Point analyst Giuliano Bologna maintains a Buy rating on Ambac Financial Group (AMBC) and raises the price target from $18 to $19.

Portfolio Pulse from Benzinga Newsdesk

May 08, 2024 | 5:36 pm

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