Vanguard Trims Ambac Stake to 8.9% as of Dec 29, 2023

TL;DR

**Vanguard cut its Ambac stake to 8.9%, watch for potential market reaction.**

AI Summary

The Vanguard Group, a major investment firm, filed an amendment (SC 13G/A) on February 13, 2024, disclosing its ownership in Ambac Financial Group Inc. As of December 29, 2023, Vanguard beneficially owned 4,007,775 shares of Ambac's common stock, representing 8.9% of the company. This filing indicates a slight decrease in Vanguard's stake from its previous disclosure, which could signal a shift in their investment strategy or a rebalancing of their portfolio, potentially impacting investor sentiment for Ambac stock.

Why It Matters

This matters because Vanguard is a significant institutional investor, and changes in their holdings can influence other investors' perceptions and the stock's price. A reduction in their stake might suggest they see less upside potential or are reallocating capital elsewhere.

Risk Assessment

Risk Level: medium — A large institutional investor reducing its stake can sometimes signal a lack of confidence, which could lead to downward pressure on the stock price.

Analyst Insight

A smart investor would monitor Ambac's stock performance and look for further institutional investor activity to understand if Vanguard's reduction is an isolated event or part of a broader trend. It would also be wise to research any recent news or financial reports from Ambac that might explain Vanguard's decision.

Key Numbers

• 4,007,775 — Shares Beneficially Owned (Represents the total number of Ambac common stock shares Vanguard held as of December 29, 2023.)
• 8.9% — Percentage of Class (Indicates Vanguard's ownership percentage of Ambac's common stock, showing a significant but slightly reduced stake.)
• December 29, 2023 — Reporting Date (This is the specific date for which the ownership data is reported, providing a clear snapshot of Vanguard's holdings.)
• 023139884 — CUSIP Number (Unique identifier for Ambac Financial Group Inc.'s common stock, ensuring accurate identification of the security.)
• 8 — Amendment Number (Indicates this is the 8th amendment to Vanguard's Schedule 13G filing for Ambac, showing ongoing adjustments to their position.)

Key Players & Entities

• The Vanguard Group (company) — reporting person and institutional investor
• Ambac Financial Group Inc (company) — issuer of the securities
• 4,007,775 shares (dollar_amount) — number of common stock shares beneficially owned by Vanguard
• 8.9% (dollar_amount) — percentage of Ambac's common stock beneficially owned by Vanguard
• December 29, 2023 (date) — date of the event requiring the filing

Forward-Looking Statements

• Ambac's stock price may experience short-term volatility due to Vanguard's reduced stake. (Ambac Financial Group Inc.) — medium confidence, target: Q1 2024

FAQ

Filing Documents

• tv0245-ambacfinancialgroupin.htm (SC 13G/A) — 11KB
• 0001104659-24-020242.txt ( ) — 13KB

(a) - Name of Issuer

Item 1(a) - Name of Issuer: Ambac Financial Group Inc

(b) - Address of Issuer's Principal Executive Offices

Item 1(b) - Address of Issuer's Principal Executive Offices: One World Trade Center, 41st floor New York, NY 10007

(a) - Name of Person Filing

Item 2(a) - Name of Person Filing: The Vanguard Group - 23-1945930

(b) – Address of Principal Business Office or, if none, residence

Item 2(b) – Address of Principal Business Office or, if none, residence: 100 Vanguard Blvd. Malvern, PA 19355

(c) – Citizenship

Item 2(c) – Citizenship: Pennsylvania

(d) - Title of Class of Securities

Item 2(d) - Title of Class of Securities: Common Stock

(e) - CUSIP Number

Item 2(e) - CUSIP Number 023139884

- Type of Filing

Item 3 - Type of Filing: This statement is being filed pursuant to Rule 13d-1. An investment adviser in accordance with 240.13d-1(b)(1)(ii)(E).

- Ownership

Item 4 - Ownership: (a) Amount Beneficially Owned: (b) Percent of Class: (c) Number of shares as to which such person has: (i) sole power to vote or direct to vote: (ii) shared power to vote or direct to vote: (iii) sole power to dispose of or to direct the disposition of: (iv) shared power to dispose or to direct the disposition of: Comments: The responses to questions 5 through 9 and 11 on the cover page(s) are incorporated by reference into this Item 4.

- Ownership of Five Percent or Less of a Class

Item 5 - Ownership of Five Percent or Less of a Class: If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than 5 percent of the class of securities, check the following

- Ownership of More Than Five Percent on Behalf of Another Person

Item 6 - Ownership of More Than Five Percent on Behalf of Another Person: The Vanguard Group, Inc.'s clients, including investment companies registered under the Investment Company Act of 1940 and other managed accounts, have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the securities reported herein. No one other person's interest in the securities reported herein is more than 5%. Item 7 - Identification and Classification of the Subsidiary Which Acquired The Security Being Reported on by the Parent Holding Company: Not applicable

- Identification and Classification of Members of Group

Item 8 - Identification and Classification of Members of Group: Not applicable

- Notice of Dissolution of Group

Item 9 - Notice of Dissolution of Group: Not applicable

- Certification

Item 10 - Certification: By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under 240.14a-11. Signature After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Date: February 13, 2024 By /s/ Ashley Grim Name: Ashley Grim Title: Head of Global Fund Administration

View Full Filing

View this SC 13G/A filing on SEC EDGAR