AGF Management (TSE:AGF.B) Stock Price Down 8.4% - What's Next?

AGF Management Limited (TSE:AGF.B - Get Free Report) shares traded down 8.4% during mid-day trading on Wednesday . The stock traded as low as C$12.10 and last traded at C$12.22. 118,037 shares changed hands during trading, an increase of 74% from the average session volume of 67,752 shares. The stock had previously closed at C$13.34.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Jefferies Financial Group cut their price objective on shares of AGF Management from C$12.00 to C$11.00 in a report on Monday, April 21st. 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 report on Thursday. Scotiabank lifted their price objective 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. Finally, TD Securities upped their price objective on shares of AGF Management from C$13.00 to C$15.00 and gave the company a "buy" rating in a report on Thursday, June 19th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of C$13.83.

AGF Management Stock Down 1.3%

The stock has a market cap of C$844.23 million, a PE ratio of 10.33, a price-to-earnings-growth ratio of 1.18 and a beta of 1.73. 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 business has a 50-day moving average price of C$11.45 and a 200-day moving average price of C$10.83.

Insider Activity

In related news, Senior Officer Kevin Andrew Mccreadie sold 3,500 shares of the stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of C$11.85, for a total value of C$41,475.00. Also, insider AGF EMPLOYEE BENEFIT PLAN TRUST sold 24,552 shares of AGF Management 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 value of C$240,609.60. In the last quarter, insiders have acquired 93,440 shares of company stock worth $1,136,048 and have sold 114,552 shares worth $1,260,920. 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.