AGF Management (TSE:AGF.B) Hits New 12-Month High Following 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 traded. The stock had previously closed at C$11.23.

A number of other equities research analysts have also commented on AGF.B. BMO Capital Markets increased their price target on AGF Management from C$10.00 to C$11.00 in a research report on Wednesday, January 8th. Desjardins boosted their target price 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. Jefferies Financial Group boosted 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, CIBC upped their target price on shares of AGF Management from C$14.00 to C$17.00 and gave the stock an “outperform” rating in a research report on Thursday, October 3rd. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, AGF Management has a consensus rating of “Moderate Buy” and an average target price of C$12.46.

Insiders Place Their Bets

In related news, Senior Officer Kevin Andrew Mccreadie sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of C$11.06, for a total transaction of C$276,500.00. Also, insider AGF EMPLOYEE BENEFIT PLAN TRUST sold 442,751 shares of the firm’s stock in a transaction that occurred 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. Insiders sold 545,085 shares of company stock worth $6,071,247 over the last three months. Company insiders own 18.70% of the company’s stock.

AGF Management Stock Performance

The business’s 50-day simple moving average is C$10.83 and its 200 day simple moving average is C$9.73. The firm has a market cap of C$720.34 million, a P/E ratio of 8.81, a P/E/G ratio of 1.18 and a beta of 1.73. The company has a debt-to-equity ratio of 11.27, a quick ratio of 1.75 and a current ratio of 1.19.

About AGF Management

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.