AGF Management (TSE:AGF.B) Reaches New 12-Month High – Here’s Why

AGF Management Limited (TSE:AGF.B)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as C$18.50 and last traded at C$18.24, with a volume of 584707 shares. The stock had previously closed at C$17.14.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on AGF.B. TD Securities upped their price target on shares of AGF Management from C$17.00 to C$18.00 in a report on Tuesday, November 4th. Desjardins upped their target price on AGF Management from C$17.75 to C$18.50 and gave the stock a “buy” rating in a research note on Thursday, January 22nd. Finally, Royal Bank Of Canada set a C$18.00 price target on AGF Management and gave the company an “outperform” rating in a research note on Wednesday, December 10th. Four research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of C$16.92.

AGF Management Stock Up 6.4%

The company has a market capitalization of C$1.16 billion, a price-to-earnings ratio of 10.92, a P/E/G ratio of 1.18 and a beta of 1.62. 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 firm’s fifty day moving average price is C$15.77 and its 200-day moving average price is C$14.11.

AGF Management (TSE:AGF.B) last issued its quarterly earnings data on Wednesday, September 24th. The company reported C$0.46 earnings per share for the quarter. The business had revenue of C$107.50 million for the quarter. AGF Management had a return on equity of 7.64% and a net margin of 16.58%. Sell-side analysts expect that AGF Management Limited will post 1.5610119 earnings per share for the current fiscal year.

AGF Management Company Profile

AGF Management is a Canadian-based asset manager with operations and investments in Canada, the United States, the United Kingdom, Ireland, and Asia. At the end of May 2022, the firm had CAD 40.3 billion in total assets under management. AGF Management’s funds are weighted more heavily toward equities, with just over two thirds of retail AUM being equity related. That said, the company does use fundamental, quantitative and alternative strategies to manages its investment funds. AGF Management has a more meaningful portion of its business tied to institutional clients than its peers, with 26% of AUM derived from institutional and subadvised accounts.