AGF Management (TSE:AGF.B) Shares Cross Above Two Hundred Day Moving Average - What's Next?

Key Points

• AGF Management's stock price recently surpassed its 200-day moving average, trading at C$12.11, which is above its average of C$11.20.
• Analysts have generally rated AGF Management positively, with four "buy" ratings and target price increases from C$11.50 to C$15.00 by various firms.
• Insider transactions revealed significant activity, with insiders selling over C$2.18 million worth of shares while still holding 18.70% of the company's stock.

AGF Management Limited (TSE:AGF.B - Get Free Report) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$11.20 and traded as high as C$12.21. AGF Management shares last traded at C$12.11, with a volume of 63,190 shares traded.

Analyst Upgrades and Downgrades

A number of research firms recently commented on AGF.B. Desjardins raised their price objective on shares of AGF Management from C$14.00 to C$15.00 and gave the company a "buy" rating in a research note on Thursday, June 26th. TD Securities raised 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 research note on Thursday, June 19th. Jefferies Financial Group decreased their price target on shares of AGF Management from C$12.00 to C$11.00 in a research report on Monday, April 21st. Finally, Scotiabank lifted 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. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of C$13.83.

AGF Management Stock Performance

The company has a debt-to-equity ratio of 11.27, a current ratio of 1.19 and a quick ratio of 1.75. The firm has a market capitalization of C$765.04 million, a P/E ratio of 9.36, a P/E/G ratio of 1.18 and a beta of 1.73. The stock's 50 day moving average is C$12.48 and its two-hundred day moving average is C$11.23.

Insider Activity at AGF Management

In other news, insider AGF EMPLOYEE BENEFIT PLAN TRUST sold 6,148 shares of the stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of C$12.91, for a total transaction of C$79,370.68. Also, 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. In the last ninety days, insiders acquired 93,440 shares of company stock valued at $1,136,048 and sold 176,733 shares valued at $2,180,218. 18.70% of the stock is currently owned by corporate insiders.

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.