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

AGF Management Limited (TSE:AGF.B)’s share price hit a new 52-week high 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 acquired 21,000 shares of the company’s stock in a transaction dated Tuesday, February 18th. The stock was acquired at an average cost of C$11.06 per share, with a total value of C$232,260.00.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. TD Securities boosted 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. Jefferies Financial Group boosted their target price 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. BMO Capital Markets boosted their target price on AGF Management from C$10.00 to C$11.00 in a research note on Wednesday, January 8th. Finally, 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 report on Thursday, January 16th. Two investment 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 company presently has an average rating of “Moderate Buy” and an average price target of C$12.46.

AGF Management Stock Up 5.0 %

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 stock has a 50 day moving average of C$10.80 and a 200 day moving average of C$10.01. The firm has a market capitalization of C$750.99 million, a price-to-earnings ratio of 9.19, a P/E/G ratio of 1.18 and a beta of 1.73.

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.