AGF Management (TSE:AGF.B) Sets New 12-Month High Following Analyst Upgrade

AGF Management Limited (TSE:AGF.B)’s stock price reached a new 52-week high during trading on Friday after TD Securities raised their price target on the stock from C$13.00 to C$15.00. TD Securities currently has a buy rating on the stock. AGF Management traded as high as C$12.48 and last traded at C$12.43, with a volume of 8975 shares. The stock had previously closed at C$12.40.

AGF.B has been the topic of a number of other research reports. Desjardins increased their target price on shares of AGF Management from C$12.50 to C$14.00 and gave the stock a “buy” rating in a research report on Tuesday. Scotiabank reduced their price target on AGF Management from C$12.00 to C$11.50 and set a “sector perform” rating on the stock in a research report on Wednesday, April 9th. Finally, Jefferies Financial Group dropped their price objective on AGF Management from C$12.00 to C$11.00 in a report on Monday, April 21st. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of C$13.25.

Insider Activity

In other news, insider AGF EMPLOYEE BENEFIT PLAN TRUST sold 24,552 shares of the business’s stock in a transaction on Wednesday, April 9th. The stock was sold at an average price of C$9.80, for a total transaction of C$240,609.60. Also, Senior Officer Kevin Andrew Mccreadie sold 60,000 shares of the company’s stock in a transaction on Monday, May 12th. The stock was sold at an average price of C$11.32, for a total value of C$679,200.00. In the last ninety days, insiders bought 93,440 shares of company stock worth $1,136,048 and sold 114,552 shares worth $1,260,920. Corporate insiders own 18.70% of the company’s stock.

AGF Management Stock Performance

The company has a market cap of C$796.33 million, a price-to-earnings ratio of 9.74, a P/E/G ratio of 1.18 and a beta of 1.73. The company has a debt-to-equity ratio of 11.27, a quick ratio of 1.75 and a current ratio of 1.19. The company has a fifty day moving average of C$10.99 and a two-hundred day moving average of C$10.75.

About AGF Management

AGF Management is a Canadian-based asset manager with operations and investments in Canada, the United States, the United Kingdom, Ireland, and Asia. At the end of May 2022, the firm had CAD 40.3 billion in total assets under management. AGF Management’s funds are weighted more heavily toward equities, with just over two thirds of retail AUM being equity related.