AGF Management (TSE:AGF.B) Price Target Lowered to C$11.50 at Scotiabank

AGF Management (TSE:AGF.B) had its price objective trimmed by Scotiabank from C$12.00 to C$11.50 in a report released on Wednesday morning,BayStreet.CA reports. The brokerage currently has a sector perform rating on the stock.

AGF.B has been the topic of several other research reports. Jefferies Financial Group boosted their target price on AGF Management from C$11.00 to C$12.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Desjardins cut their price objective on AGF Management from C$13.50 to C$12.25 and set a “buy” rating for the company in a report on Wednesday. TD Securities lowered their target price on AGF Management from C$13.00 to C$12.00 and set a “buy” rating on the stock in a report on Wednesday. Finally, BMO Capital Markets upped their price target on shares of AGF Management from C$10.00 to C$11.00 in a report on Wednesday, January 8th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of C$12.63.

AGF Management Price Performance

Shares of AGF.B stock traded down C$0.59 during midday trading on Wednesday, reaching C$9.07. 29,715 shares of the company were exchanged, compared to its average volume of 71,629. The company’s 50 day moving average price is C$10.49 and its two-hundred day moving average price is C$10.57. The company has a market cap of C$579.21 million, a P/E ratio of 7.09, a PEG ratio of 1.18 and a beta of 1.73. AGF Management has a 12 month low of C$7.37 and a 12 month high of C$11.95. The company has a debt-to-equity ratio of 11.27, a quick ratio of 1.75 and a current ratio of 1.19.

Insider Buying and Selling

In other news, insider AGF EMPLOYEE BENEFIT PLAN TRUST acquired 21,000 shares of the stock in a transaction on Tuesday, February 18th. The shares were purchased at an average cost of C$11.06 per share, for a total transaction of C$232,260.00. In the last quarter, insiders have purchased 89,700 shares of company stock valued at $1,033,992. 18.70% of the stock is owned by corporate insiders.

About AGF Management

AGF Management Limited is one of Canada's premier investment management companies with offices across Canada and subsidiaries around the world. 2007 marks AGF's 50th anniversary ofproviding Canadians with innovative investment solutions across the wealth continuum. AGF's products and services include a diversified family of more than 50 mutual funds, the evolutionary AGF Elements portfolios, the Harmony asset management program, AGF Private Investment Management, Institutional Account Services and AGF Trust GICs, loans and mortgages.