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

AGF Management Limited (TSE:AGF.B) hit a new 52-week high during mid-day trading on Wednesday after an insider bought additional shares in the company. The stock traded as high as C$11.84 and last traded at C$11.79, with a volume of 11826 shares trading hands. 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 acquired at an average cost 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 the stock in a transaction that occurred on Thursday, February 20th. The shares were bought at an average price of C$11.57 per share, for a total transaction of C$244,127.00.

Analyst Upgrades and Downgrades

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

AGF Management Stock Up 2.9 %

The company has a current ratio of 1.19, a quick ratio of 1.75 and a debt-to-equity ratio of 11.27. The company has a 50-day simple moving average of C$10.84 and a 200 day simple moving average of C$10.08. The company has a market cap of C$759.93 million, a P/E ratio of 9.30, a P/E/G ratio of 1.18 and a beta of 1.73.

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.