AGF Management (TSE:AGF.B) Hits New 1-Year High Following Analyst Upgrade

AGF Management Limited (TSE:AGF.B)’s share price reached a new 52-week high during trading on Friday after Desjardins raised their price target on the stock from C$12.00 to C$12.50. Desjardins currently has a buy rating on the stock. AGF Management traded as high as C$9.00 and last traded at C$8.98, with a volume of 92937 shares changing hands. The stock had previously closed at C$8.84.

AGF.B has been the subject of several other reports. BMO Capital Markets boosted their price target on AGF Management from C$9.00 to C$10.00 and gave the stock a “market perform” rating in a research report on Monday, September 23rd. Scotiabank boosted their price target on AGF Management from C$10.75 to C$11.25 in a research report on Wednesday, September 18th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of C$11.25.

Insiders Place Their Bets

In other AGF Management news, insider AGF EMPLOYEE BENEFIT PLAN TRUST acquired 16,100 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were acquired at an average price of C$7.97 per share, for a total transaction of C$128,317.00. In other news, Director Laura Lee Dottori-Attanasio bought 12,500 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The stock was purchased at an average cost of C$7.99 per share, with a total value of C$99,833.75. Also, insider AGF EMPLOYEE BENEFIT PLAN TRUST bought 16,100 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was purchased at an average cost of C$7.97 per share, with a total value of C$128,317.00. Insiders have purchased a total of 52,885 shares of company stock worth $421,964 in the last quarter. 18.74% of the stock is owned by company insiders.

AGF Management Stock Up 1.4 %

The business has a 50-day simple moving average of C$8.06 and a two-hundred day simple moving average of C$8.20. The company has a debt-to-equity ratio of 14.60, a quick ratio of 1.75 and a current ratio of 1.58. The company has a market capitalization of C$576.04 million, a price-to-earnings ratio of 6.79, a PEG ratio of 1.18 and a beta of 1.71.

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.