AGF Management (TSE:AGF.B) Sets New 1-Year High on Analyst Upgrade

AGF Management Limited (TSE:AGF.B)’s share price reached a new 52-week high during mid-day trading on Thursday after TD Securities raised their price target on the stock from C$12.00 to C$13.00. TD Securities currently has a buy rating on the stock. AGF Management traded as high as C$11.50 and last traded at C$11.44, with a volume of 37947 shares. The stock had previously closed at C$11.23.

Other equities research analysts have also issued reports about the stock. Jefferies Financial Group increased their target price on shares of AGF Management from C$11.00 to C$12.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. BMO Capital Markets raised their price objective on shares of AGF Management from C$10.00 to C$11.00 in a report on Wednesday, January 8th. Desjardins raised their price objective on shares of AGF Management from C$12.50 to C$13.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Finally, CIBC raised their price objective on shares of AGF Management from C$14.00 to C$17.00 and gave the company an “outperform” rating in a report on Thursday, October 3rd. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of C$12.46.

Insider Buying and Selling

In other AGF Management news, insider AGF EMPLOYEE BENEFIT PLAN TRUST sold 442,751 shares of the firm’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of C$11.17, for a total transaction of C$4,945,528.67. Also, Senior Officer Kevin Andrew Mccreadie sold 31,600 shares of the firm’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of C$10.65, for a total transaction of C$336,540.00. Insiders have sold 545,085 shares of company stock worth $6,071,247 in the last ninety days. 18.70% of the stock is owned by corporate insiders.

AGF Management Trading Up 1.9 %

The firm has a market cap of C$730.56 million, a PE ratio of 8.94, a P/E/G ratio of 1.18 and a beta of 1.73. The company’s fifty day moving average price is C$10.82 and its two-hundred day moving average price is C$9.70. The company has a quick ratio of 1.75, a current ratio of 1.19 and a debt-to-equity ratio of 11.27.

AGF Management Company Profile

AGF Management Limited is one of Canada's premier investment management companies with offices across Canada and subsidiaries around the world. 2007 marks AGF's 50th anniversary ofproviding Canadians with innovative investment solutions across the wealth continuum. AGF's products and services include a diversified family of more than 50 mutual funds, the evolutionary AGF Elements portfolios, the Harmony asset management program, AGF Private Investment Management, Institutional Account Services and AGF Trust GICs, loans and mortgages.