BlackRock Amends Ambac Stake to 7.3% as of Dec 31, 2023
Ticker: OSG · Form: SC 13G/A · Filed: Jan 22, 2024 · CIK: 874501
| Field | Detail |
|---|---|
| Company | Ambac Financial Group Inc (OSG) |
| Form Type | SC 13G/A |
| Filed Date | Jan 22, 2024 |
| Risk Level | low |
| Sentiment | neutral |
Complexity: simple
Sentiment: neutral
Topics: institutional-ownership, amendment, passive-investment
TL;DR
**BlackRock still owns a big chunk of Ambac, 7.3% as of year-end 2023.**
AI Summary
BlackRock, Inc. filed an amended SC 13G/A on January 22, 2024, disclosing its ownership in Ambac Financial Group Inc. As of December 31, 2023, BlackRock beneficially owned 3,186,076 shares of Ambac's Common Stock, representing 7.3% of the company. This is an update to their previous filing, indicating a change in their stake. This matters to investors because BlackRock is a major institutional investor, and changes in their holdings can signal their confidence (or lack thereof) in Ambac's future performance, potentially influencing other investors.
Why It Matters
BlackRock's updated 7.3% stake in Ambac Financial Group Inc. shows their continued significant investment, which can be seen as a vote of confidence from a major institutional player. This level of ownership gives BlackRock influence and their investment decisions are often watched by other market participants.
Risk Assessment
Risk Level: low — This filing is a routine update from a large institutional investor and does not indicate any immediate or significant new risks for Ambac Financial Group Inc.
Analyst Insight
Investors should note BlackRock's continued significant stake in Ambac, as large institutional holdings can provide a baseline of stability and indicate long-term interest. While this filing doesn't suggest immediate action, it's a data point for assessing institutional confidence in Ambac's future.
Key Numbers
- 3,186,076 — Shares Beneficially Owned (This is the total number of Ambac Financial Group Inc. common shares BlackRock, Inc. reported owning as of December 31, 2023.)
- 7.3% — Percentage of Class (This represents the percentage of Ambac Financial Group Inc.'s Common Stock that BlackRock, Inc. beneficially owns, indicating a significant stake.)
- December 31, 2023 — Reporting Date (This is the specific date for which the ownership data is being reported, providing a clear snapshot of BlackRock's holdings at year-end.)
Key Players & Entities
- BlackRock, Inc. (company) — the reporting person and institutional investor
- Ambac Financial Group Inc (company) — the subject company in which BlackRock holds shares
- 3,186,076 (dollar_amount) — number of shares beneficially owned by BlackRock
- 7.3% (dollar_amount) — percentage of Ambac's Common Stock owned by BlackRock
- December 31, 2023 (date) — the date of the event requiring the filing
- January 22, 2024 (date) — the filing date of the SC 13G/A
Forward-Looking Statements
- BlackRock will maintain a significant, though potentially fluctuating, stake in Ambac Financial Group Inc. throughout 2024. (BlackRock, Inc.) — medium confidence, target: December 31, 2024
FAQ
What is the purpose of this SC 13G/A filing?
This SC 13G/A filing is an amendment (Amendment No: 2) by BlackRock, Inc. to update its previously reported beneficial ownership of Common Stock in Ambac Financial Group Inc., as required by Rule 13d-1(b) of the Securities Exchange Act of 1934.
Who is the reporting person in this filing and what company are they reporting on?
The reporting person is BlackRock, Inc., and they are reporting their beneficial ownership of Common Stock in Ambac Financial Group Inc.
As of what date is the ownership information in this filing accurate?
The ownership information in this filing is accurate as of December 31, 2023, which is stated as the 'Date of Event Which Requires Filing of this Statement'.
How many shares of Ambac Financial Group Inc. Common Stock does BlackRock, Inc. beneficially own according to this filing?
BlackRock, Inc. beneficially owns 3,186,076 shares of Ambac Financial Group Inc. Common Stock.
What percentage of Ambac Financial Group Inc.'s Common Stock does BlackRock, Inc.'s ownership represent?
BlackRock, Inc.'s ownership represents 7.3% of Ambac Financial Group Inc.'s Common Stock.
Filing Details
This Form SC 13G/A (Form SC 13G/A) was filed with the SEC on January 22, 2024 regarding AMBAC FINANCIAL GROUP INC (OSG).