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

Key Points

• AGF Management's stock reached a new 52-week high of C$13.79 following an upgrade from Desjardins, which raised its price target from C$15.00 to C$16.50 and maintains a buy rating.
• Multiple firms, including TD Securities and Scotiabank, have also increased their price targets for AGF Management, reflecting a consensus rating of "Moderate Buy" with a target of C$14.08.
• Insider selling activity has been notable, with AGF EMPLOYEE BENEFIT PLAN TRUST and Senior Officer Kevin Andrew Mccreadie selling significant amounts of shares in recent transactions.

AGF Management Limited (TSE:AGF.B - Get Free Report) reached a new 52-week high on Monday after Jefferies Financial Group raised their price target on the stock from C$14.50 to C$16.00. Jefferies Financial Group currently has a buy rating on the stock. AGF Management traded as high as C$13.79 and last traded at C$13.75, with a volume of 49877 shares trading hands. The stock had previously closed at C$13.37.

Several other brokerages have also issued reports on AGF.B. Scotiabank upped their target price on AGF Management from C$14.00 to C$15.00 and gave the company a "sector perform" rating in a research report on Thursday. Desjardins upped their target price on AGF Management from C$15.00 to C$16.50 and gave the company a "buy" rating in a research report on Monday. BMO Capital Markets upped their target price on AGF Management from C$12.00 to C$15.00 in a research report on Tuesday. Finally, TD Securities upped their target price 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. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of C$15.75.

Insider Buying and Selling at AGF Management

In other AGF Management news, insider AGF EMPLOYEE BENEFIT PLAN TRUST sold 6,148 shares of AGF Management stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of C$12.91, for a total transaction of C$79,370.68. Also, Senior Officer Kevin Andrew Mccreadie sold 62,100 shares of AGF Management stock in a transaction dated Monday, June 30th. The stock was sold at an average price of C$13.41, for a total value of C$832,761.00. Over the last 90 days, insiders have sold 86,733 shares of company stock valued at $1,159,908. Company insiders own 18.70% of the company's stock.

AGF Management Price Performance

The stock has a fifty day simple moving average of C$12.52 and a two-hundred day simple moving average of C$11.52. The company has a market cap of C$916.47 million, a PE ratio of 9.19, a price-to-earnings-growth ratio of 1.18 and a beta of 1.28. The company has a current ratio of 1.19, a quick ratio of 1.75 and a debt-to-equity ratio of 11.27.

About AGF Management

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.