AGF Management (TSE:AGF.B) Sets New 1-Year High on Insider Buying Activity

AGF Management Limited (TSE:AGF.B) shares reached a new 52-week high during trading on Thursday following insider buying activity. The company traded as high as C$11.55 and last traded at C$11.54, with a volume of 62148 shares. The stock had previously closed at C$11.20.

Specifically, insider AGF EMPLOYEE BENEFIT PLAN TRUST acquired 21,000 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The stock was purchased at an average price of C$11.06 per share, for a total transaction of C$232,260.00.

Analysts Set New Price Targets

A number of brokerages have commented on AGF.B. Desjardins boosted their price target on shares of AGF Management from C$12.50 to C$13.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. TD Securities upped their target price on shares of AGF Management from C$12.00 to C$13.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Jefferies Financial Group raised their price target on shares of AGF Management from C$11.00 to C$12.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Finally, BMO Capital Markets boosted their price objective on AGF Management from C$10.00 to C$11.00 in a report on Wednesday, January 8th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of C$12.46.

AGF Management Price Performance

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 firm has a market cap of C$738.86 million, a PE ratio of 9.04, a P/E/G ratio of 1.18 and a beta of 1.73. The business’s fifty day moving average is C$10.78 and its 200-day moving average is C$9.98.

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.