AGF Management (TSE:AGF.B) Shares Down 8.4% - Here's What Happened

AGF Management Limited (TSE:AGF.B - Get Free Report) shares fell 8.4% during 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.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Desjardins raised their target price on AGF Management from C$14.00 to C$15.00 and gave the stock a "buy" rating in a research note on Thursday. Jefferies Financial Group reduced their target price on AGF Management from C$12.00 to C$11.00 in a research note on Monday, April 21st. TD Securities raised their target price on AGF Management from C$13.00 to C$15.00 and gave the stock a "buy" rating in a research note on Thursday, June 19th. Finally, Scotiabank increased their price target on AGF Management from C$11.50 to C$14.00 and gave the stock a "sector perform" rating in a research report on Monday. 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, AGF Management has a consensus rating of "Moderate Buy" and an average target price of C$13.83.

AGF Management Trading Up 4.7%

The stock has a market cap of C$855.72 million, a PE ratio of 10.47, a price-to-earnings-growth ratio of 1.18 and a beta of 1.73. 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 company's 50-day moving average price is C$11.37 and its 200 day moving average price is C$10.81.

Insider Activity

In related news, insider AGF EMPLOYEE BENEFIT PLAN TRUST sold 24,552 shares of AGF Management stock in a transaction that occurred on Wednesday, April 9th. The shares were sold at an average price of C$9.80, for a total value of C$240,609.60. Also, Senior Officer Kevin Andrew Mccreadie sold 60,000 shares of AGF Management stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of C$11.32, for a total transaction of C$679,200.00. In the last 90 days, insiders have bought 93,440 shares of company stock valued at $1,136,048 and have sold 114,552 shares valued at $1,260,920. Corporate 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.