AGF Management (TSE:AGF.B) Sets New 52-Week High - Here's Why

Shares of AGF Management Limited (TSE:AGF.B - Get Free Report) hit a new 52-week high during trading on Monday . The company traded as high as C$11.95 and last traded at C$11.95, with a volume of 17449 shares. The stock had previously closed at C$11.70.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on AGF.B. Scotiabank reduced their price target on shares of AGF Management from C$12.00 to C$11.50 and set a "sector perform" rating for the company in a research note on Wednesday, April 9th. Jefferies Financial Group dropped their price objective on shares of AGF Management from C$12.00 to C$11.00 in a report on Monday, April 21st. TD Securities dropped their price objective on shares of AGF Management from C$13.00 to C$12.00 and set a "buy" rating on the stock in a report on Wednesday, April 9th. Finally, Desjardins cut their price objective on shares of AGF Management from C$13.50 to C$12.25 and set a "buy" rating for the company in a research report on Wednesday, April 9th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of C$12.46.

AGF Management Stock Down 0.7%

The company has a 50 day simple moving average of C$10.44 and a two-hundred day simple moving average of C$10.66. The company has a quick ratio of 1.75, a current ratio of 1.19 and a debt-to-equity ratio of 11.27. The company has a market capitalization of C$768.87 million, a P/E ratio of 9.41, a PEG ratio of 1.18 and a beta of 1.73.

Insiders Place Their Bets

In other news, insider AGF EMPLOYEE BENEFIT PLAN TRUST sold 24,552 shares of the company's stock in a transaction that occurred on 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 the company's 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. Insiders have sold 114,552 shares of company stock valued at $1,260,920 over the last ninety days. 18.70% of the stock is owned by insiders.

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.