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

AGF Management Limited (TSE:AGF.B) hit a new 52-week high 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.

AGF.B has been the subject of several other reports. BMO Capital Markets upped their price objective on AGF Management from C$10.00 to C$11.00 in a research note on Wednesday, January 8th. CIBC upped their price objective on AGF Management from C$14.00 to C$17.00 and gave the stock an “outperform” rating in a research note on Thursday, October 3rd. Jefferies Financial Group upped 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. Finally, Desjardins upped their target price on shares of AGF Management from C$12.50 to C$13.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of C$12.46.

Insider Buying and Selling at AGF Management

In other AGF Management news, Senior Officer Kevin Andrew Mccreadie sold 25,000 shares of the company’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of C$11.06, for a total value of C$276,500.00. Also, insider AGF EMPLOYEE BENEFIT PLAN TRUST sold 442,751 shares of the company’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of C$11.17, for a total transaction of C$4,945,528.67. Over the last three months, insiders have sold 545,085 shares of company stock valued at $6,071,247. 18.70% of the stock is owned by insiders.

AGF Management Stock Performance

The firm’s 50 day moving average price is C$10.82 and its two-hundred day moving average price is C$9.70. The company has a debt-to-equity ratio of 11.27, a quick ratio of 1.75 and a current ratio of 1.19. The firm has a market cap of C$730.56 million, a PE ratio of 8.94, a PEG ratio of 1.18 and a beta of 1.73.

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.