Desjardins Issues Positive Forecast for AGF Management (TSE:AGF.B) Stock Price

Key Points

• Desjardins has raised its price target for AGF Management (TSE:AGF.B) from C$15.00 to C$16.50, indicating an 18.53% upside from the stock's previous close, while maintaining a "buy" rating.
• AGF Management's stock increased by 4.1%, reaching C$13.92 during midday trading, with a significant trading volume of 130,148 shares.
• Recent insider trading showed that senior officer Kevin Andrew Mccreadie sold 62,100 shares at an average price of C$13.41, contributing to a total of 86,733 shares sold by insiders over the past three months.

AGF Management (TSE:AGF.B - Get Free Report) had its price objective boosted by equities research analysts at Desjardins from C$15.00 to C$16.50 in a report released on Monday,BayStreet.CA reports. The firm presently has a "buy" rating on the stock. Desjardins' target price would indicate a potential upside of 18.53% from the stock's previous close.

Several other equities analysts have also issued reports on AGF.B. TD Securities upped their target price on AGF Management from C$13.00 to C$15.00 and gave the company a "buy" rating in a report on Thursday, June 19th. Scotiabank upped their target price on AGF Management from C$11.50 to C$14.00 and gave the company a "sector perform" rating in a report on Monday, June 23rd. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, AGF Management has an average rating of "Moderate Buy" and a consensus price target of C$14.08.

AGF Management Stock Up 4.1%

AGF.B traded up C$0.55 during midday trading on Monday, reaching C$13.92. 130,148 shares of the company were exchanged, compared to its average volume of 73,680. 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 fifty day moving average price is C$12.38 and its 200 day moving average price is C$11.43. The company has a market cap of C$895.88 million, a price-to-earnings ratio of 8.98, a price-to-earnings-growth ratio of 1.18 and a beta of 1.28. AGF Management has a one year low of C$7.91 and a one year high of C$13.96.

Insider Buying and Selling at AGF Management

In other news, Senior Officer Kevin Andrew Mccreadie sold 62,100 shares of the stock in a transaction on Monday, June 30th. The shares were sold at an average price of C$13.41, for a total value of C$832,761.00. Also, insider AGF EMPLOYEE BENEFIT PLAN TRUST sold 6,148 shares of AGF Management stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of C$12.91, for a total transaction of C$79,370.68. Insiders sold 86,733 shares of company stock valued at $1,159,908 in the last three months. Company 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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