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

AGF Management Limited (TSE:AGF.B) shares reached a new 52-week high during 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. The stock had previously closed at C$11.23.

A number of other equities research analysts have also recently commented on AGF.B. Jefferies Financial Group increased their target price on AGF Management from C$11.00 to C$12.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Desjardins increased their target price on AGF Management from C$12.50 to C$13.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. 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. Finally, BMO Capital Markets increased their target price on AGF Management from C$10.00 to C$11.00 in a research report on Wednesday, January 8th. Two investment 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 an average price target of C$12.46.

Insider Transactions at AGF Management

In other AGF Management news, Senior Officer Kevin Andrew Mccreadie sold 31,600 shares of the stock in a transaction on Tuesday, November 5th. The shares were 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 stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of C$11.17, for a total transaction of C$4,945,528.67. Over the last three months, insiders have sold 545,085 shares of company stock worth $6,071,247. Corporate insiders own 18.70% of the company’s stock.

AGF Management Trading Down 0.9 %

The stock has a market capitalization of C$720.34 million, a P/E ratio of 8.81, a price-to-earnings-growth 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 firm’s fifty day simple moving average is C$10.83 and its 200 day simple moving average is C$9.73.

About AGF Management

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.