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

Key Points

• AGF Management Limited shares traded above their 200-day moving average at C$12.00, indicating potential upward momentum as analysts set a consensus target price of C$13.83.
• Recent rating upgrades include TD Securities raising its target price from C$13.00 to C$15.00, with four analysts recommending a "Buy" and two a "Hold."
• Insider transactions showed significant activity, with insiders selling over C$1.4 million in shares while purchasing approximately C$1.1 million worth in the last ninety days.

AGF Management Limited (TSE:AGF.B - Get Free Report) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$11.27 and traded as high as C$12.16. AGF Management shares last traded at C$12.00, with a volume of 133,390 shares changing hands.

Analyst Ratings Changes

A number of research analysts have commented on the stock. TD Securities upped their target price 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. Scotiabank increased their price target on shares of AGF Management from C$11.50 to C$14.00 and gave the stock a "sector perform" rating in a research report on Monday, June 23rd. Finally, Desjardins increased 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 report on Thursday, June 26th. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of C$13.83.

AGF Management Trading Up 1.7%

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 fifty day moving average of C$12.45 and a two-hundred day moving average of C$11.27. The stock has a market capitalization of C$766.32 million, a price-to-earnings ratio of 9.38, a P/E/G ratio of 1.18 and a beta of 1.73.

Insider Buying and Selling at AGF Management

In related news, Senior Officer Kevin Andrew Mccreadie sold 62,100 shares of the stock in a transaction on Monday, June 30th. The stock was sold at an average price of C$13.41, for a total transaction of C$832,761.00. Also, insider AGF EMPLOYEE BENEFIT PLAN TRUST sold 6,148 shares of the stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of C$12.91, for a total value of C$79,370.68. Over the last ninety days, insiders have purchased 93,440 shares of company stock valued at $1,136,048 and have sold 108,333 shares valued at $1,403,988. 18.70% of the stock is 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.

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