AGI Inc (NYSE:AGBK) Stock Has Average Target Price of $14.00 According to Brokerages

Key Points

• Analyst views are mixed: Nine firms give AGI an average “Hold” rating, with six buys, one hold and two sells; their average one-year price target is $14.00.
• AGI shares traded at $6.32, while Oppenheimer cut its price target to $8.00 and Goldman Sachs set a $13.00 target. The company’s board also authorized a buyback of up to 3 million shares.
• AGI’s CTO sold 256,386 shares in August, reducing his stake by 59.24%.

AGI Inc (NYSE:AGBK - Get Free Report) has earned an average rating of "Hold" from the nine research firms that are covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $14.00.

A number of research firms recently issued reports on AGBK. The Goldman Sachs Group set a $13.00 price objective on shares of AGI in a research report on Thursday, August 6th. Weiss Ratings reaffirmed a "sell (d)" rating on shares of AGI in a research note on Friday, August 7th. Finally, Oppenheimer lowered their price target on shares of AGI from $9.00 to $8.00 and set an "outperform" rating for the company in a report on Thursday.

AGI Price Performance

NYSE AGBK traded down $0.01 during trading on Friday, hitting $6.32. 267,103 shares of the company's stock were exchanged, compared to its average volume of 596,229. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 0.31. The company has a market cap of $1.01 billion and a PE ratio of 6.79. AGI has a fifty-two week low of $4.43 and a fifty-two week high of $12.21. The stock's 50 day moving average price is $6.15 and its two-hundred day moving average price is $7.25.

AGI announced that its board has authorized a stock buyback plan on Tuesday, October 27th that permits the company to buy back 3,000,000 outstanding shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Share buyback plans are typically an indication that the company's board of directors believes its shares are undervalued.

Insiders Place Their Bets

In related news, CTO Vinicius Birkeland Aloe sold 256,386 shares of the business's stock in a transaction on Monday, August 31st. The stock was sold at an average price of $11.99, for a total transaction of $3,074,068.14. Following the sale, the chief technology officer owned 176,423 shares in the company, valued at $2,115,311.77. The trade was a 59.24% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Hedge Funds Weigh In On AGI

An institutional investor recently bought a new position in AGI stock. State Street Corp purchased a new position in shares of AGI Inc (NYSE:AGBK - Free Report) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 22,400 shares of the company's stock, valued at approximately $129,000.

About AGI

Agibank S.A. is a Brazilian financial services company that combines digital banking with a network of physical service locations. Its offerings include digital accounts, payment services, cards, personal credit and insurance, with a focus on serving individuals across Brazil. The company is particularly known for payroll-deductible loans, including credit products for retirees and public-sector employees. Agibank traces its origins to Agiplan, established in 1999, and adopted the Agibank name as it expanded its digital banking operations.

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