Desjardins Boosts AGF Management (TSE:AGF.B) Price Target to C$17.75

Key Points

• Desjardins has raised the price target for AGF Management (TSE:AGF.B) from C$16.50 to C$17.75, suggesting a potential upside of 26.24% from its previous close.
• Multiple brokerages have also increased their price targets for AGF Management, with TD Securities setting a target of C$17.00 and Scotiabank at C$16.00.
• AGF Management's stock recently traded down 1.5% to C$14.06, while insiders have sold a total of 86,733 shares in the last ninety days.

AGF Management (TSE:AGF.B - Get Free Report) had its price target upped by research analysts at Desjardins from C$16.50 to C$17.75 in a note issued to investors on Thursday,BayStreet.CA reports. The firm presently has a "buy" rating on the stock. Desjardins' price objective indicates a potential upside of 26.24% from the stock's previous close.

Several other brokerages also recently weighed in on AGF.B. TD Securities increased their price target on AGF Management from C$15.00 to C$17.00 and gave the stock a "buy" rating in a report on Monday. Scotiabank increased their price target on AGF Management from C$15.00 to C$16.00 and gave the stock a "sector perform" rating in a report on Thursday. BMO Capital Markets increased their price target on AGF Management from C$12.00 to C$15.00 in a report on Tuesday, September 16th. Finally, Jefferies Financial Group increased their price target on AGF Management from C$14.50 to C$16.00 and gave the stock a "buy" rating in a report on Friday, September 19th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, AGF Management currently has an average rating of "Moderate Buy" and a consensus target price of C$16.46.

AGF Management Trading Down 1.5%

AGF.B stock traded down C$0.22 during midday trading on Thursday, reaching C$14.06. 157,564 shares of the company traded hands, compared to its average volume of 77,770. AGF Management has a 52-week low of C$8.34 and a 52-week high of C$15.30. 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 business has a 50 day moving average of C$12.62 and a 200-day moving average of C$11.59. The firm has a market capitalization of C$904.89 million, a price-to-earnings ratio of 9.07, a P/E/G ratio of 1.18 and a beta of 1.28.

Insider Buying and Selling at AGF Management

In other AGF Management 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 shares were sold at an average price of C$12.91, for a total value of C$79,370.68. Insiders have sold a total of 86,733 shares of company stock worth $1,159,908 in the last ninety days. 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.

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