AGF Management (TSE:AGF.B) Hits New 1-Year High on Insider Buying Activity

Shares of AGF Management Limited (TSE:AGF.B) 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. 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 on Tuesday, February 25th. The shares were bought at an average price of C$11.56 per share, for a total transaction 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 purchased at an average price of C$11.57 per share, with a total value of C$244,127.00.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. TD Securities lifted their price objective on shares of AGF Management from C$12.00 to C$13.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. Desjardins increased their price objective on AGF Management from C$12.50 to C$13.00 and gave the company a “buy” rating in a report on Thursday, January 16th. 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, Jefferies Financial Group increased 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. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of C$12.46.

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 company has a market capitalization of C$759.93 million, a price-to-earnings ratio of 9.30, a price-to-earnings-growth ratio of 1.18 and a beta of 1.73. The firm has a fifty day simple moving average of C$10.84 and a 200 day simple moving average of C$10.08.

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.