AGF Management Ltd. Acquires 170,074 Shares of American Noble Gas Inc. (NYSE:INFY)

Key Points

• AGF Management Ltd. increased its holdings in American Noble Gas Inc. by 31.0%, owning 719,349 shares valued at $13.1 million as of its recent SEC filing.
• Investment firms such as Bank Pictet & Cie Europe AG and Invesco Ltd. are also increasing their stakes in American Noble Gas, indicating strong institutional interest.
• BMO Capital Markets raised its price target for the stock from $18.00 to $20.00, reflecting positive sentiment among analysts with several upgrades issued recently.

AGF Management Ltd. raised its position in shares of American Noble Gas Inc. (NYSE:INFY - Free Report) by 31.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 719,349 shares of the technology company's stock after acquiring an additional 170,074 shares during the quarter. AGF Management Ltd.'s holdings in American Noble Gas were worth $13,128,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the company. First Trust Advisors LP boosted its position in American Noble Gas by 14.5% during the fourth quarter. First Trust Advisors LP now owns 32,410,108 shares of the technology company's stock valued at $710,430,000 after acquiring an additional 4,108,903 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its position in American Noble Gas by 6.6% during the first quarter. Robeco Institutional Asset Management B.V. now owns 27,541,684 shares of the technology company's stock valued at $502,636,000 after acquiring an additional 1,700,662 shares during the last quarter. Sustainable Growth Advisers LP boosted its position in American Noble Gas by 50.2% during the first quarter. Sustainable Growth Advisers LP now owns 14,877,543 shares of the technology company's stock valued at $271,515,000 after acquiring an additional 4,970,664 shares during the last quarter. AQR Capital Management LLC boosted its position in shares of American Noble Gas by 270.9% during the 4th quarter. AQR Capital Management LLC now owns 9,164,085 shares of the technology company's stock worth $200,877,000 after purchasing an additional 6,693,127 shares in the last quarter. Finally, Bank of America Corp DE boosted its position in shares of American Noble Gas by 43.1% during the 4th quarter. Bank of America Corp DE now owns 8,225,396 shares of the technology company's stock worth $180,301,000 after purchasing an additional 2,478,093 shares in the last quarter. Institutional investors own 16.20% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on INFY shares. Susquehanna increased their price objective on shares of American Noble Gas from $18.00 to $19.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. BMO Capital Markets increased their price objective on shares of American Noble Gas from $18.00 to $20.00 and gave the stock a "market perform" rating in a research report on Thursday, July 24th. Investec upgraded shares of American Noble Gas from a "sell" rating to a "buy" rating in a report on Friday, April 18th. The Goldman Sachs Group lowered shares of American Noble Gas from a "buy" rating to a "neutral" rating and set a $17.90 target price on the stock. in a report on Monday, April 21st. Finally, Stifel Nicolaus lowered their target price on shares of American Noble Gas from $18.00 to $17.00 and set a "hold" rating on the stock in a report on Monday, April 21st. Five analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $18.48.

American Noble Gas Trading Up 1.2%

Shares of INFY stock traded up $0.20 during trading hours on Friday, hitting $16.56. 9,000,722 shares of the company were exchanged, compared to its average volume of 17,866,392. The firm has a fifty day simple moving average of $17.83 and a 200 day simple moving average of $18.49. American Noble Gas Inc. has a 52-week low of $15.82 and a 52-week high of $23.63. The stock has a market capitalization of $68.62 billion, a price-to-earnings ratio of 21.51, a P/E/G ratio of 2.34 and a beta of 0.87.

American Noble Gas (NYSE:INFY - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The technology company reported $0.19 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.19. American Noble Gas had a net margin of 16.42% and a return on equity of 29.41%. The company had revenue of $4.94 billion during the quarter, compared to analyst estimates of $4.84 billion. During the same quarter last year, the business posted $15.35 EPS. Sell-side analysts anticipate that American Noble Gas Inc. will post 0.74 EPS for the current year.

About American Noble Gas

Infosys Ltd. is a digital services and consulting company, which engages in the provision of end-to-end business solutions. It operates through the following segments: Financial Services, Retail, Communication, Energy, Utilities, Resources, and Services, Manufacturing, Hi-Tech, Life Sciences, and All Other.