AGF Management (TSE:AGF.B) Reaches New 12-Month High – Here’s What Happened

AGF Management Limited (TSE:AGF.B) shares hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as C$20.63 and last traded at C$20.04, with a volume of 40144 shares. The stock had previously closed at C$20.10.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on AGF.B shares. Desjardins upped their price target on AGF Management from C$18.50 to C$20.00 and gave the company a “buy” rating in a research report on Wednesday, January 28th. Scotiabank raised their price objective on shares of AGF Management from C$17.50 to C$18.25 and gave the company a “sector perform” rating in a research report on Wednesday, January 28th. TD Securities increased their target price on AGF Management from C$18.00 to C$20.00 and gave the company a “buy” rating in a research note on Wednesday, January 28th. Finally, Royal Bank Of Canada lifted their price target on AGF Management from C$18.00 to C$22.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 28th. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, AGF Management presently has a consensus rating of “Moderate Buy” and a consensus target price of C$18.54.

AGF Management Stock Performance

The firm has a market cap of C$1.32 billion, a PE ratio of 10.75, a price-to-earnings-growth ratio of 1.18 and a beta of 1.49. The business has a 50 day simple moving average of C$17.65 and a two-hundred day simple moving average of C$15.10. The company has a quick ratio of 1.75, a current ratio of 1.19 and a debt-to-equity ratio of 11.27.

AGF Management (TSE:AGF.B) last posted its quarterly earnings results on Tuesday, January 27th. The company reported C$0.62 EPS for the quarter. The firm had revenue of C$120.30 million for the quarter. AGF Management had a net margin of 16.58% and a return on equity of 7.64%. As a group, equities research analysts forecast that AGF Management Limited will post 1.5610119 earnings per share for the current fiscal year.

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. That said, the company does use fundamental, quantitative and alternative strategies to manages its investment funds. AGF Management has a more meaningful portion of its business tied to institutional clients than its peers, with 26% of AUM derived from institutional and subadvised accounts.