AGF Management (TSE:AGF.B) Sets New 52-Week High Following Insider Buying Activity

AGF Management Limited (TSE:AGF.B)’s stock price hit a new 52-week high during trading on Thursday after an insider bought additional shares in the company. The stock traded as high as C$11.55 and last traded at C$11.54, with a volume of 62148 shares traded. The stock had previously closed at C$11.20.

Specifically, insider AGF EMPLOYEE BENEFIT PLAN TRUST purchased 21,000 shares of the business’s stock in a transaction on 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.

Wall Street Analysts Forecast Growth

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

AGF Management Stock Up 3.3 %

The stock has a market capitalization of C$738.86 million, a P/E ratio of 9.04, 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 current ratio of 1.19 and a quick ratio of 1.75. The firm has a 50-day simple moving average of C$10.78 and a 200 day simple moving average of C$9.98.

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.