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

AGF Management Limited (TSE:AGF.B)’s stock price reached a new 52-week high on Thursday after an insider bought additional shares in the company. The company traded as high as C$11.55 and last traded at C$11.54, with a volume of 62148 shares changing hands. The stock had previously closed at C$11.20.

Specifically, insider AGF EMPLOYEE BENEFIT PLAN TRUST acquired 21,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The stock was purchased at an average cost of C$11.06 per share, for a total transaction of C$232,260.00.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Jefferies Financial Group upped their price objective 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. Desjardins upped their price target on shares of 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 upped their price target on shares of AGF Management from C$10.00 to C$11.00 in a report on Wednesday, January 8th. Finally, TD Securities upped their price target on shares of 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 equities research 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, AGF Management currently has an average rating of “Moderate Buy” and an average target price of C$12.46.

AGF Management Price Performance

The stock’s 50-day moving average price is C$10.80 and its 200 day moving average price is C$10.01. The firm has a market cap of C$750.99 million, a price-to-earnings ratio of 9.19, a price-to-earnings-growth 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.

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.