Scotiabank Forecasts Strong Price Appreciation for AGF Management (TSE:AGF.B) Stock

AGF Management (TSE:AGF.B - Get Free Report) had its price objective increased by stock analysts at Scotiabank from C$11.50 to C$14.00 in a research report issued to clients and investors on Monday,BayStreet.CA reports. The brokerage currently has a "sector perform" rating on the stock. Scotiabank's price target indicates a potential upside of 4.48% from the stock's previous close.

Several other research analysts also recently commented on AGF.B. TD Securities lifted their price objective on AGF Management from C$13.00 to C$15.00 and gave the stock a "buy" rating in a report on Thursday, June 19th. Jefferies Financial Group reduced their price target on AGF Management from C$12.00 to C$11.00 in a research report on Monday, April 21st. Finally, Desjardins boosted their price objective on AGF Management from C$12.50 to C$14.00 and gave the company a "buy" rating in a research report on Tuesday, June 17th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, AGF Management has an average rating of "Moderate Buy" and a consensus price target of C$13.83.

AGF Management Trading Up 4.7%

TSE:AGF.B traded up C$0.60 during trading hours on Monday, reaching C$13.40. The company's stock had a trading volume of 102,214 shares, compared to its average volume of 69,930. 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 has a market capitalization of C$855.72 million, a price-to-earnings ratio of 10.47, a PEG ratio of 1.18 and a beta of 1.73. The firm has a 50-day simple moving average of C$11.37 and a 200-day simple moving average of C$10.81. AGF Management has a 1 year low of C$7.37 and a 1 year high of C$13.45.

Insider Activity at AGF Management

In other news, insider AGF EMPLOYEE BENEFIT PLAN TRUST bought 42,700 shares of the firm's stock in a transaction dated Monday, June 9th. The stock was purchased at an average price of C$12.09 per share, with a total value of C$516,243.00. Also, Senior Officer Kevin Andrew Mccreadie sold 60,000 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of C$11.32, for a total value of C$679,200.00. Over the last quarter, insiders have purchased 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 currently owned by company 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.