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

AGF Management Limited (TSE:AGF.B)’s stock price hit a new 52-week high during trading on Wednesday following insider buying activity. The stock traded as high as C$11.84 and last traded at C$11.79, with a volume of 11826 shares. The stock had previously closed at C$11.57.

Specifically, insider AGF EMPLOYEE BENEFIT PLAN TRUST bought 23,200 shares of the business’s stock in a transaction that occurred on Tuesday, February 25th. The shares were purchased 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 purchased 21,100 shares of the business’s stock in a transaction on Thursday, February 20th. The shares were bought at an average cost of C$11.57 per share, for a total transaction of C$244,127.00.

Wall Street Analysts Forecast Growth

AGF.B has been the topic of several recent analyst reports. BMO Capital Markets increased their target price on shares of AGF Management from C$10.00 to C$11.00 in a research note on Wednesday, January 8th. Desjardins raised 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 research note on Thursday, January 16th. TD Securities raised their price target on shares of AGF Management from C$12.00 to C$13.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Finally, Jefferies Financial Group raised their price target 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. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of C$12.46.

AGF Management Stock Up 2.2 %

The company has a market cap of C$754.83 million, a PE ratio of 9.23, a P/E/G ratio of 1.18 and a beta of 1.73. The company has a quick ratio of 1.75, a current ratio of 1.19 and a debt-to-equity ratio of 11.27. The firm’s fifty day simple moving average is C$10.86 and its 200-day simple moving average is C$10.11.

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.