Last €18.24 EUR
Change Today -0.395 / -2.12%
Volume 0.0
FGPN On Other Exchanges
Symbol
Exchange
NASDAQ GS
Stuttgart
As of 2:03 AM 08/29/14 All times are local (Market data is delayed by at least 15 minutes).

ambac financial group inc (FGPN) Snapshot

Open
€18.24
Previous Close
€18.64
Day High
€18.24
Day Low
€18.24
52 Week High
03/6/14 - €25.22
52 Week Low
10/10/13 - €11.36
Market Cap
820.8M
Average Volume 10 Days
48.5
EPS TTM
--
Shares Outstanding
45.0M
EX-Date
--
P/E TM
--
Dividend
--
Dividend Yield
--
Current Stock Chart for AMBAC FINANCIAL GROUP INC (FGPN)

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ambac financial group inc (FGPN) Details

Ambac Financial Group, Inc. does not have significant operations. Previously, it provided financial guarantee insurance for public and structured finance obligations; and financial and investment products, including investment agreements, funding conduits, and interest rate swaps principally to the clients of its financial guarantee business. The company was founded in 1971 and is headquartered in New York, New York.

212 Employees
Last Reported Date: 03/3/14
Founded in 1971

ambac financial group inc (FGPN) Top Compensated Officers

Chief Executive Officer, President, Director,...
Total Annual Compensation: $1.3M
Chief Financial Officer, Senior Managing Dire...
Total Annual Compensation: $985.0K
Chief Accounting Officer, Senior Managing Dir...
Total Annual Compensation: $715.0K
Compensation as of Fiscal Year 2013.

ambac financial group inc (FGPN) Key Developments

Ambac Financial Group, Inc. Announces Private Placement of Senior Secured Notes

Ambac Financial Group, Inc. announced that it expects to receive approximately $231 million in gross proceeds in connection with a private placement of senior secured notes by Corolla Trust, a Delaware statutory trust. Ambac anticipates that closing on the Notes will occur on or about August 28, 2014, subject to customary closing conditions. At closing, Ambac will deposit $350 million face amount of junior surplus notes issued to it by the Segregated Account of Ambac Assurance Corporation, plus accrued but unpaid interest thereon, into the Trust in exchange for approximately $231 million of cash and a subordinated owner trust certificate issued by the Trust. The Trust will fund the cash portion of its purchase of the Junior Surplus Notes with proceeds of the private placement of approximately $299 million face amount of Notes to third party investors. The Notes will mature in 2039. Interest on the Notes will accrue at 5.1% per annum and compound annually on June 7, 2014 of each year up to and including the maturity date. Payments on the Notes will be made when and to the extent that the Segregated Account makes payments on the Junior Surplus Notes. The Notes must be paid in full before any payments will be made on the Owner Trust Certificate. The Notes and Owner Trust Certificate will be non-recourse to Ambac, Ambac Assurance Corporation and the Segregated Account, but will be collateralized by the Junior Surplus Notes. Morgan Stanley & Co. LLC is acting as sole placement agent for the Notes. Proceeds from the transaction are expected to be used to fund Ambac's growth and diversification initiatives, including potential acquisitions and development opportunities; select Ambac Assurance liability management activities; and for general corporate purposes.

AMBC Seeks Acquisitions

Ambac Financial Group, Inc. (NasdaqGS:AMBC) is looking for acquisition opportunities. AMBC announced a private placement of junior surplus notes for gross proceeds of $231 million. AMBC intends to use the net proceeds from private placement to fund Ambac’s growth and diversification initiatives, including potential acquisitions and development opportunities.

Ambac Financial Group, Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014

Ambac Financial Group, Inc. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported net premiums earned of $65.013 million against $58.039 million for the period from May 1, 2013 through June 30, 2013. Total net investment income was $80.093 million against $26.196 million for the period from May 1, 2013 through June 30, 2013. Net realized investment gains were $3.067 million against $18.472 million for the period from May 1, 2013 through June 30, 2013. Pre-tax loss from continuing operations before reorganization items was $210.226 million against pre-tax income from continuing operations before reorganization items of $206.219 million for the period from May 1, 2013 through June 30, 2013. Pre-tax loss from continuing operations was $210.412 million against pre-tax income from continuing operations $205.795 million for the period from May 1, 2013 through June 30, 2013. Net loss attributable to common shareholders was $207.905 million or $4.61 per diluted share against net income attributable to common shareholders of $205.681 million or $4.42 per diluted share for the period from May 1, 2013 through June 30, 2013. Total revenues before expenses and reorganization items were $57.333 million against $242.415 million for the period from May 1, 2013 through June 30, 2013. Operating losses were $113.3 million, or $2.51 per diluted share, for the three months ended June 30, 2014 as compared to operating earnings of $203.1 million, or $4.36 per diluted share, for the period May 1 - June 30, 2013 and operating losses of $2.1 million or $0.01 per diluted share, for the period April 1 - April 30, 2013. For the six months, the company reported net premiums earned of $147.560 million against $58.039 million for the period from May 1, 2013 through June 30, 2013 and $130.000 million for the period January 1, 2013 through April 30, 2013. Total net investment income was $150.894 million against $26.196 million for the period from May 1, 2013 through June 30, 2013 and $116.740 million for the period January 1, 2013 through April 30, 2013. Net realized investment gains were $19.356 million against $18.472 million for the period from May 1, 2013 through June 30, 2013 and $53.305 million for the period January 1, 2013 through April 30, 2013. Pre-tax loss from continuing operations before reorganization items was $50.905 million against pre-tax income from continuing operations before reorganization items of $206.219 million for the period from May 1, 2013 through June 30, 2013 and $602.853 million for the period January 1, 2013 through April 30, 2013. Pre-tax loss from continuing operations was $51.114 million against pre-tax income from continuing operations $205.795 million for the period from May 1, 2013 through June 30, 2013 and $3,348.033 million for the period January 1, 2013 through April 30, 2013. Net loss attributable to common shareholders was $51.963 million or $1.15 per diluted share against net income attributable to common shareholders of $205.681 million or $4.42 per diluted share for the period from May 1, 2013 through June 30, 2013 and $3,349.049 million or $11.07 per diluted share for the period January 1, 2013 through April 30, 2013. Total revenues before expenses and reorganization items were $166.471 million against $242.415 million for the period from May 1, 2013 through June 30, 2013 and $640.388 million for the period January 1, 2013 through April 30, 2013.

 

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Company Last Change
Assured Guaranty Ltd $24.15 USD +0.24
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FGPN

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Valuation FGPN Industry Range
Price/Earnings 4.4x
Price/Sales 2.5x
Price/Book 1.1x
Price/Cash Flow 2.8x
TEV/Sales NM Not Meaningful
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