AGF Management (TSE:AGF.B) Share Price Passes Above 200-Day Moving Average - Time to Sell?

Key Points

• AGF Management's shares recently crossed above their 200-day moving average, indicating potential bullish momentum, with the stock trading at C$12.26.
• Analysts have increased their price targets for AGF Management, with Scotiabank setting a new target of C$14.00 and TD Securities at C$15.00, reflecting a consensus rating of "Moderate Buy."
• Insiders have been active, with the AGF EMPLOYEE BENEFIT PLAN TRUST purchasing 42,700 shares, while a senior officer sold 62,100 shares, highlighting varying confidence levels among insiders.

AGF Management Limited (TSE:AGF.B - Get Free Report) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$11.34 and traded as high as C$12.52. AGF Management shares last traded at C$12.26, with a volume of 89,946 shares trading hands.

Analysts Set New Price Targets

AGF.B has been the subject of a number of research analyst reports. Scotiabank lifted their target price on shares of AGF Management from C$11.50 to C$14.00 and gave the company a "sector perform" rating in a research note on Monday, June 23rd. TD Securities upped their price objective on shares of AGF Management from C$13.00 to C$15.00 and gave the stock a "buy" rating in a research report on Thursday, June 19th. Finally, Desjardins lifted their price objective on AGF Management from C$14.00 to C$15.00 and gave the stock a "buy" rating in a research note on Thursday, June 26th. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, AGF Management has an average rating of "Moderate Buy" and an average target price of C$13.83.

AGF Management Stock Up 3.1%

The firm has a market cap of C$810.28 million, a P/E ratio of 8.12, a P/E/G ratio of 1.18 and a beta of 1.32. 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's fifty day moving average is C$12.40 and its 200 day moving average is C$11.35.

Insider Buying and Selling

In other news, insider AGF EMPLOYEE BENEFIT PLAN TRUST sold 6,148 shares of the company's stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of C$12.91, for a total value of C$79,370.68. Also, Senior Officer Kevin Andrew Mccreadie sold 62,100 shares of the company's stock in a transaction on Monday, June 30th. The shares were sold at an average price of C$13.41, for a total transaction of C$832,761.00. Over the last quarter, insiders acquired 93,440 shares of company stock valued at $1,136,048 and sold 86,733 shares valued at $1,159,908. Insiders own 18.70% of the company's stock.

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.