AGF Management (TSE:AGF.B) Hits New 12-Month High - Here's What Happened

AGF Management Limited (TSE:AGF.B - Get Free Report) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as C$13.44 and last traded at C$13.27, with a volume of 27900 shares traded. The stock had previously closed at C$12.80.

Wall Street Analyst Weigh In

AGF.B has been the topic of several research analyst reports. TD Securities upped their price objective on AGF Management from C$13.00 to C$15.00 and gave the company a "buy" rating in a research report on Thursday, June 19th. Scotiabank raised their price target on shares of AGF Management from C$11.50 to C$14.00 and gave the stock a "sector perform" rating in a research note on Monday. Desjardins lifted their price objective on shares of AGF Management from C$14.00 to C$15.00 and gave the company a "buy" rating in a report on Thursday. Finally, Jefferies Financial Group lowered their price objective on shares of AGF Management from C$12.00 to C$11.00 in a research report on Monday, April 21st. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, AGF Management presently has a consensus rating of "Moderate Buy" and an average price target of C$13.83.

AGF Management Trading Down 1.5%

The stock's fifty day simple moving average is C$11.37 and its 200-day simple moving average is C$10.81. The company has a debt-to-equity ratio of 11.27, a current ratio of 1.19 and a quick ratio of 1.75. The firm has a market cap of C$842.95 million, a PE ratio of 10.31, a PEG ratio of 1.18 and a beta of 1.73.

Insider Buying and Selling

In other AGF Management news, insider AGF EMPLOYEE BENEFIT PLAN TRUST sold 24,552 shares of AGF Management stock in a transaction dated Wednesday, April 9th. The stock was sold at an average price of C$9.80, for a total transaction of C$240,609.60. Also, Senior Officer Kevin Andrew Mccreadie sold 3,500 shares of AGF Management stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of C$11.85, for a total value of C$41,475.00. In the last quarter, insiders have acquired 93,440 shares of company stock worth $1,136,048 and have sold 114,552 shares worth $1,260,920. 18.70% of the stock is owned by corporate insiders.

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.