AGF Management (TSE:AGF.B) Sets New 52-Week High Following Analyst Upgrade

AGF Management Limited (TSE:AGF.B - Get Free Report) shares hit a new 52-week high during 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 changing hands. The stock had previously closed at C$11.23.

A number of other brokerages have also recently issued reports on AGF.B. BMO Capital Markets lifted their price objective on shares of 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 company a "buy" rating in a research note on Wednesday, January 8th. Desjardins upped their price objective on AGF Management from C$12.50 to C$13.00 and gave the stock a "buy" rating in a research report on Thursday, January 16th. Finally, CIBC lifted their target price on AGF Management from C$14.00 to C$17.00 and gave the company an "outperform" rating in a research report on Thursday, October 3rd. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of C$12.46.

Insider Activity

In related news, insider AGF EMPLOYEE BENEFIT PLAN TRUST sold 442,751 shares of AGF Management stock in a transaction on 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. Also, Senior Officer Kevin Andrew Mccreadie sold 45,734 shares of the business's stock in a transaction on Monday, November 25th. The stock was sold at an average price of C$11.21, for a total value of C$512,678.14. Insiders have sold 545,085 shares of company stock worth $6,071,247 over the last 90 days. 18.70% of the stock is currently owned by corporate insiders.

AGF Management Stock 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 capitalization of C$720.34 million, a PE ratio of 8.81, a P/E/G ratio of 1.18 and a beta of 1.73. The company's fifty day simple moving average is C$10.83 and its 200 day simple moving average is C$9.73.

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.