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

Key Points

• Scotiabank has raised its price target for AGF Management from C$14.00 to C$15.00, indicating a potential upside of 5.86% from the current price.
• Multiple analysts have also upgraded their price targets, with Desjardins setting a target of C$16.50 and TD Securities raising theirs to C$15.00, both assigning a "buy" rating.
• Insider sales have been reported, with notable transactions totaling over C$900,000 in recent weeks, despite insiders holding 18.70% of the company's stock.

AGF Management (TSE:AGF.B - Get Free Report) had its target price lifted by investment analysts at Scotiabank from C$14.00 to C$15.00 in a research note issued on Thursday,BayStreet.CA reports. The brokerage presently has a "sector perform" rating on the stock. Scotiabank's price objective would indicate a potential upside of 4.82% from the company's current price.

AGF.B has been the subject of a number of other research reports. BMO Capital Markets lifted their target price on AGF Management from C$12.00 to C$15.00 in a report on Tuesday, September 16th. Desjardins lifted their target price on AGF Management from C$15.00 to C$16.50 and gave the stock a "buy" rating in a report on Monday, September 15th. Finally, TD Securities lifted their target price on AGF Management from C$13.00 to C$15.00 and gave the stock a "buy" rating in a report on Thursday, June 19th. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of C$16.08.

AGF Management Stock Up 0.5%

TSE AGF.B traded up C$0.07 during trading on Thursday, hitting C$14.31. The company's stock had a trading volume of 55,231 shares, compared to its average volume of 75,679. The company has a debt-to-equity ratio of 11.27, a current ratio of 1.19 and a quick ratio of 1.75. The company has a market cap of C$920.98 million, a PE ratio of 9.23, a P/E/G ratio of 1.18 and a beta of 1.28. The business's 50 day simple moving average is C$12.52 and its 200-day simple moving average is C$11.53. AGF Management has a fifty-two week low of C$8.17 and a fifty-two week high of C$14.44.

Insider Transactions at AGF Management

In related news, insider AGF EMPLOYEE BENEFIT PLAN TRUST sold 6,148 shares of the firm's stock in a transaction that occurred 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. Also, Senior Officer Kevin Andrew Mccreadie sold 62,100 shares of the firm's stock in a transaction that occurred on Monday, June 30th. The stock was sold at an average price of C$13.41, for a total value of C$832,761.00. In the last quarter, insiders sold 86,733 shares of company stock worth $1,159,908. 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.