AGF Management (TSE:AGF.B) Hits New 1-Year High – Here’s Why

AGF Management Limited (TSE:AGF.B)’s share price hit a new 52-week high on Tuesday . The stock traded as high as C$18.88 and last traded at C$18.88, with a volume of 162557 shares trading hands. The stock had previously closed at C$18.21.

Analysts Set New Price Targets

AGF.B has been the topic of a number of recent research reports. Royal Bank Of Canada lifted their price objective on AGF Management from C$18.00 to C$22.00 and gave the company an “outperform” rating in a report on Wednesday, January 28th. TD Securities boosted their price target on AGF Management from C$18.00 to C$20.00 and gave the company a “buy” rating in a research note on Wednesday, January 28th. Scotiabank increased their price objective on AGF Management from C$17.50 to C$18.25 and gave the stock a “sector perform” rating in a research note on Wednesday, January 28th. Finally, Desjardins lifted their price objective on AGF Management from C$18.50 to C$20.00 and gave the company a “buy” rating in a report on Wednesday, January 28th. Four investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of C$18.54.

AGF Management Trading Up 3.7%

The company has a debt-to-equity ratio of 11.27, a quick ratio of 1.75 and a current ratio of 1.19. The stock has a market cap of C$1.20 billion, a P/E ratio of 9.88, a P/E/G ratio of 1.18 and a beta of 1.49. The company has a 50-day simple moving average of C$16.59 and a 200-day simple moving average of C$14.48.

AGF Management (TSE:AGF.B) last announced its earnings results on Tuesday, January 27th. The company reported C$0.62 earnings per share for the quarter. AGF Management had a return on equity of 7.64% and a net margin of 16.58%.The company had revenue of C$120.30 million during the quarter. On average, sell-side analysts forecast that AGF Management Limited will post 1.5610119 EPS for the current fiscal year.

About AGF Management

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.