AGF Management (TSE:AGF.B) Announces Earnings Results

AGF Management (TSE:AGF.B) posted its earnings results on Tuesday. The company reported C$0.30 earnings per share (EPS) for the quarter, FiscalAI reports. AGF Management had a return on equity of 7.64% and a net margin of 16.58%.The firm had revenue of C$95.30 million for the quarter.

Here are the key takeaways from AGF Management’s conference call:

• AUM and fee?earning assets exceeded CAD 60 billion, up 12% year?over?year; AGF Investments’ Canadian mutual fund AUM was CAD 36 billion (+15% YoY) and ETF/SMA AUM grew ~54% YoY.
• Strong cash generation and balance sheet — free cash flow of CAD 36 million in Q1 (CAD 122 million TTM), net debt of CAD 48 million, CAD 432 million in short/long?term investments, and an 8% quarterly dividend increase to CAD 0.135 plus continued buybacks.
• -CAD 16.8 million fair value adjustment to long?term investments (net -CAD 10.6M after distributions) drove AGF Capital Partners’ Adjusted EPS to -CAD 0.05 and management trimmed near?term long?term investment return guidance to ~5–6% for FY26.
• Kensington amendments lifted its redemption suspension, eliminated the redemption queue and implemented a new liquidity framework (aiming to make ~5% available per quarter) to better align redemptions with asset liquidity.
• Leadership and strategic optionality — John Porter joins as CIO effective May 1, 2026, and AGF is actively evaluating an option to increase its stake in New Holland Capital (window open through H1 2027) after New Holland’s AUM rose to ~CAD 10 billion.

AGF Management Stock Down 4.8%

Shares of TSE AGF.B opened at C$15.93 on Thursday. AGF Management has a 12-month low of C$9.01 and a 12-month high of C$20.91. The company has a market cap of C$1.02 billion, a P/E ratio of 8.34, a P/E/G ratio of 1.18 and a beta of 1.35. The company has a current ratio of 1.19, a quick ratio of 1.75 and a debt-to-equity ratio of 11.27. The stock has a fifty day moving average price of C$19.45 and a 200 day moving average price of C$16.71.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on AGF.B. BMO Capital Markets increased their price target on AGF Management from C$19.00 to C$20.00 and gave the stock a “market perform” rating in a research note on Wednesday, April 8th. Scotiabank increased their price target 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. Scotia reduced their price target on AGF Management from C$20.00 to C$18.00 and set a “sector perform” rating on the stock in a research note on Wednesday. TD Securities increased their price target on AGF Management from C$18.00 to C$20.00 and gave the stock a “buy” rating in a research note on Wednesday, January 28th. Finally, Desjardins increased their price target on AGF Management from C$19.00 to C$20.00 and gave the stock a “buy” rating in a research note on Friday, April 10th. Four analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, AGF Management currently has an average rating of “Moderate Buy” and a consensus price target of C$19.18.

About AGF Management

Founded in 1957, AGF Management Limited (AGF) is an independent and globally diverse asset management firm. Our companies deliver excellence in investing in the public and private markets through three business lines: AGF Investments, AGF Capital Partners and AGF Private Wealth. AGF brings a disciplined approach, focused on incorporating sound, responsible and sustainable corporate practices. The firm’s collective investment expertise, driven by its fundamental, quantitative and private investing capabilities, extends globally to a wide range of clients, from financial advisors and their clients to high-net worth and institutional investors including pension plans, corporate plans, sovereign wealth funds, endowments and foundations.