AGF Management (TSE:AGF.B) Shares Cross Above Two Hundred Day Moving Average - Should You Sell?

Key Points

• AGF Management's share price crossed above its 200-day moving average, indicating a potential upward trend, with shares last traded at C$11.86.
• Multiple analysts have recently upgraded their price targets for AGF Management, with ranges from C$11.00 to C$15.00, reflecting a consensus rating of "Moderate Buy."
• Insider trading activity included the sale of over 62,000 shares by a senior officer, while insiders have also acquired nearly 94,000 shares worth over C$1.1 million in recent months.

AGF Management Limited (TSE:AGF.B - Get Free Report)'s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$11.24 and traded as high as C$12.06. AGF Management shares last traded at C$11.86, with a volume of 71,847 shares changing hands.

Analyst Upgrades and Downgrades

AGF.B has been the subject of several research reports. Desjardins boosted their price target on shares of 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. Scotiabank boosted their price target on shares of AGF Management from C$11.50 to C$14.00 and gave the company a "sector perform" rating in a research report on Monday, June 23rd. TD Securities boosted their price target on shares of 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. Finally, Jefferies Financial Group reduced their target price on shares of AGF Management from C$12.00 to C$11.00 in a report on Monday, April 21st. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of C$13.83.

AGF Management Stock Down 0.8%

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 firm has a market cap of C$757.38 million, a PE ratio of 9.27, a P/E/G ratio of 1.18 and a beta of 1.73. The firm's 50 day moving average is C$12.48 and its 200-day moving average is C$11.24.

Insider Buying and Selling

In other news, Senior Officer Kevin Andrew Mccreadie sold 62,100 shares of the firm's stock in a transaction on Monday, June 30th. The shares were sold at an average price of C$13.41, for a total value of C$832,761.00. Also, insider AGF EMPLOYEE BENEFIT PLAN TRUST purchased 42,700 shares of the company's stock in a transaction that occurred on Monday, June 9th. The shares were purchased at an average cost of C$12.09 per share, for a total transaction of C$516,243.00. In the last ninety days, insiders have acquired 93,440 shares of company stock worth $1,136,048 and have sold 113,233 shares worth $1,459,543. Company 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.

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