AGF Management (TSE:AGF.B) Reaches New 1-Year High After Analyst Upgrade

AGF Management Limited (TSE:AGF.B) reached a new 52-week high during mid-day 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 several other reports. Scotiabank lowered their target price on shares of AGF Management from C$12.00 to C$11.50 and set a “sector perform” rating on the stock in a research note on Wednesday, April 9th. Jefferies Financial Group lowered their target price on shares of AGF Management from C$12.00 to C$11.00 in a research note on Monday, April 21st. Finally, 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 note on Tuesday. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, AGF Management currently has an average rating of “Moderate Buy” and a consensus target price of C$13.25.

Insiders Place Their Bets

In related news, insider AGF EMPLOYEE BENEFIT PLAN TRUST purchased 5,863 shares of the firm’s stock in a transaction dated Monday, June 16th. The shares were purchased at an average price of C$12.10 per share, with a total value of C$70,942.30. Also, Senior Officer Kevin Andrew Mccreadie sold 60,000 shares of the stock in a transaction on Monday, May 12th. The stock was sold at an average price of C$11.32, for a total transaction of C$679,200.00. In the last three months, insiders have bought 93,440 shares of company stock worth $1,136,048 and have 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 current ratio of 1.19, a quick ratio of 1.75 and a debt-to-equity ratio of 11.27. The company’s fifty day moving average is C$11.05 and its 200 day moving average is C$10.76. The company has a market cap of C$806.55 million, a P/E ratio of 9.87, a price-to-earnings-growth ratio of 1.18 and a beta of 1.73.

AGF Management Company Profile

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.