AGF Management (TSE:AGF.B) Hits New 52-Week High - Still a Buy?

AGF Management Limited (TSE:AGF.B - Get Free Report)'s share price reached a new 52-week high during trading on Wednesday . The stock traded as high as C$12.30 and last traded at C$12.23, with a volume of 30000 shares changing hands. The stock had previously closed at C$12.06.

Analyst Ratings Changes

AGF.B has been the topic of several research analyst reports. TD Securities dropped their price objective on AGF Management from C$13.00 to C$12.00 and set a "buy" rating on the stock in a research note on Wednesday, April 9th. Desjardins dropped their price objective on AGF Management from C$13.50 to C$12.25 and set a "buy" rating on the stock in a research note on Wednesday, April 9th. Scotiabank dropped their price objective on AGF Management from C$12.00 to C$11.50 and set a "sector perform" rating on the stock in a research note on Wednesday, April 9th. Finally, Jefferies Financial Group dropped their price objective on AGF Management from C$12.00 to C$11.00 in a research note on Monday, April 21st. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of C$12.46.

AGF Management Price Performance

The business's fifty day simple moving average is C$10.78 and its 200-day simple moving average is C$10.72. The company has a current ratio of 1.19, a quick ratio of 1.75 and a debt-to-equity ratio of 11.27. The firm has a market cap of C$765.68 million, a P/E ratio of 9.37, a PEG ratio of 1.18 and a beta of 1.73.

Insider Buying and Selling at AGF Management

In other news, insider AGF EMPLOYEE BENEFIT PLAN TRUST sold 24,552 shares of the company's stock in a transaction on Wednesday, April 9th. The shares were sold at an average price of C$9.80, for a total value of C$240,609.60. Also, Senior Officer Kevin Andrew Mccreadie sold 21,600 shares of the company's stock in a transaction on Monday, May 26th. The stock was sold at an average price of C$11.30, for a total transaction of C$244,080.00. In the last 90 days, insiders have acquired 87,577 shares of company stock valued at $1,065,105 and have sold 114,552 shares valued at $1,260,920. Insiders own 18.70% of the company's stock.

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.