AGF Management (TSE:AGF.B) Given New C$15.00 Price Target at Scotiabank

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 upped by equities research 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 target would indicate a potential upside of 5.34% from the stock's current price.

Several other research firms also recently commented on AGF.B. BMO Capital Markets upped their price target on shares of AGF Management from C$12.00 to C$15.00 in a research report on Tuesday, September 16th. Desjardins boosted their price target on shares of AGF Management from C$15.00 to C$16.50 and gave the stock a "buy" rating in a research report on Monday, September 15th. Finally, TD Securities upped their price target 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 company's stock. According to data from MarketBeat, AGF Management presently has a consensus rating of "Moderate Buy" and a consensus price target of C$15.75.

AGF Management Price Performance

AGF Management stock traded down C$0.06 during mid-day trading on Thursday, hitting C$14.24. The stock had a trading volume of 94,593 shares, compared to its average volume of 75,792. The company has a current ratio of 1.19, a quick ratio of 1.75 and a debt-to-equity ratio of 11.27. AGF Management has a one year low of C$8.17 and a one year high of C$14.44. The firm has a market capitalization of C$916.47 million, a P/E ratio of 9.19, a P/E/G ratio of 1.18 and a beta of 1.28. The firm's 50 day moving average is C$12.52 and its 200 day moving average is C$11.52.

Insider Activity at AGF Management

In other news, Senior Officer Kevin Andrew Mccreadie sold 62,100 shares of the company's 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 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. In the last three months, insiders sold 86,733 shares of company stock valued at $1,159,908. Corporate 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.