AGF Management (TSE:AGF.B) Sets New 52-Week High on Analyst Upgrade

Shares of AGF Management Limited (TSE:AGF.B) hit a new 52-week high during mid-day trading on Thursday after TD Securities raised their price target on the stock from C$12.00 to C$13.00. TD Securities currently has a buy rating on the stock. AGF Management traded as high as C$11.50 and last traded at C$11.44, with a volume of 37947 shares changing hands. The stock had previously closed at C$11.23.

Other equities research analysts have also issued research reports about the company. Jefferies Financial Group boosted their price target on AGF Management from C$11.00 to C$12.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. BMO Capital Markets upped their target price on AGF Management from C$10.00 to C$11.00 in a research note on Wednesday, January 8th. Desjardins raised their price objective on AGF Management from C$12.50 to C$13.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Finally, CIBC increased their target price on AGF Management from C$14.00 to C$17.00 and gave the stock an “outperform” rating in a research report on Thursday, October 3rd. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of C$12.46.

Insider Buying and Selling

In other AGF Management news, Senior Officer Kevin Andrew Mccreadie sold 31,600 shares of the company’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of C$10.65, for a total value of C$336,540.00. Also, insider AGF EMPLOYEE BENEFIT PLAN TRUST sold 442,751 shares of the business’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of C$11.17, for a total transaction of C$4,945,528.67. Insiders have sold a total of 545,085 shares of company stock valued at $6,071,247 over the last quarter. Corporate insiders own 18.70% of the company’s stock.

AGF Management Price Performance

The stock has a market capitalization of C$726.73 million, a P/E ratio of 8.89, a PEG ratio of 1.18 and a beta of 1.73. The stock’s fifty day moving average is C$10.83 and its 200-day moving average is C$9.72. The company has a debt-to-equity ratio of 11.27, a current ratio of 1.19 and a quick ratio of 1.75.

AGF Management Company Profile

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.