Scotiabank Forecasts Strong Price Appreciation for AGF Management (TSE:AGF.B) Stock

Key Points

• Scotiabank has raised its target price for AGF Management from C$15.00 to C$16.00, indicating a potential upside of 13.80% from the stock's previous close.
• Other analysts, including Desjardins and TD Securities, have also increased their price objectives for AGF Management, with the consensus rating now at "Moderate Buy" and a consensus price target of C$16.46.
• AGF Management's stock had a recent trading volume of 157,564 shares, with a fifty-two week trading range between C$8.34 and C$15.30, and company insiders have sold a total of 86,733 shares worth over C$1 million in the last 90 days.

AGF Management (TSE:AGF.B - Get Free Report) had its price objective hoisted by research analysts at Scotiabank from C$15.00 to C$16.00 in a report issued on Thursday,BayStreet.CA reports. The firm presently has a "sector perform" rating on the stock. Scotiabank's target price suggests a potential upside of 13.80% from the stock's previous close.

A number of other equities research analysts also recently commented on the company. Desjardins upped their price objective on AGF Management from C$15.00 to C$16.50 and gave the company a "buy" rating in a report on Monday, September 15th. TD Securities increased their price target on AGF Management from C$15.00 to C$17.00 and gave the company a "buy" rating in a research report on Monday. Jefferies Financial Group raised their price objective on AGF Management from C$14.50 to C$16.00 and gave the company a "buy" rating in a research report on Friday, September 19th. Finally, BMO Capital Markets increased their target price on AGF Management from C$12.00 to C$15.00 in a research note on Tuesday, September 16th. 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.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of C$16.46.

AGF Management Price Performance

AGF.B stock traded down C$0.22 during trading on Thursday, hitting C$14.06. The company had a trading volume of 157,564 shares, compared to its average volume of 77,770. The company has a fifty day moving average price of C$12.62 and a two-hundred day moving average price of C$11.59. The company has a current ratio of 1.19, a quick ratio of 1.75 and a debt-to-equity ratio of 11.27. The company has a market cap of C$904.89 million, a P/E ratio of 9.07, a P/E/G ratio of 1.18 and a beta of 1.28. AGF Management has a fifty-two week low of C$8.34 and a fifty-two week high of C$15.30.

Insider Buying and Selling

In other AGF Management news, insider AGF EMPLOYEE BENEFIT PLAN TRUST sold 6,148 shares of the business's 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 business's stock in a transaction on Monday, June 30th. The shares were sold at an average price of C$13.41, for a total transaction of C$832,761.00. Insiders sold a total of 86,733 shares of company stock worth $1,159,908 in the last 90 days. Company insiders own 18.70% of the company's stock.

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.

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