AGF Management (TSE:AGF.B) Reaches New 12-Month High Following Insider Buying Activity

Shares of AGF Management Limited (TSE:AGF.B - Get Free Report) hit a new 52-week high on Wednesday after an insider bought additional shares in the company. The company traded as high as C$11.84 and last traded at C$11.79, with a volume of 11826 shares traded. The stock had previously closed at C$11.57.

Specifically, insider AGF EMPLOYEE BENEFIT PLAN TRUST bought 23,200 shares of AGF Management stock in a transaction on Tuesday, February 25th. The stock was bought at an average price of C$11.56 per share, with a total value of C$268,192.00. Also, insider AGF EMPLOYEE BENEFIT PLAN TRUST bought 21,100 shares of AGF Management stock in a transaction on Thursday, February 20th. The stock was acquired at an average cost of C$11.57 per share, with a total value of C$244,127.00.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Desjardins lifted their price target on AGF Management from C$12.50 to C$13.00 and gave the stock a "buy" rating in a research note on Thursday, January 16th. BMO Capital Markets lifted their price target on AGF Management from C$10.00 to C$11.00 in a research note on Wednesday, January 8th. Jefferies Financial Group lifted their price target on AGF Management from C$11.00 to C$12.00 and gave the stock a "buy" rating in a research note on Wednesday, January 8th. Finally, TD Securities lifted their price target 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 analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of C$12.46.

AGF Management Stock Up 1.8 %

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 company has a market cap of C$760.57 million, a PE ratio of 9.30, a PEG ratio of 1.18 and a beta of 1.73. The firm has a fifty day simple moving average of C$10.91 and a 200 day simple moving average of C$10.15.

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.