Arizona State Retirement System Increases Holdings in Goosehead Insurance, Inc (NASDAQ:GSHD)

Arizona State Retirement System lifted its position in shares of Goosehead Insurance, Inc (NASDAQ:GSHD) by 10.9% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,709 shares of the company’s stock after buying an additional 662 shares during the period. Arizona State Retirement System’s holdings in Goosehead Insurance were worth $385,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Victory Capital Management Inc. increased its stake in Goosehead Insurance by 10.7% during the 2nd quarter. Victory Capital Management Inc. now owns 9,184 shares of the company’s stock worth $528,000 after buying an additional 890 shares during the period. TD Asset Management Inc boosted its holdings in shares of Goosehead Insurance by 124.6% in the 2nd quarter. TD Asset Management Inc now owns 30,092 shares of the company’s stock valued at $1,728,000 after buying an additional 16,692 shares in the last quarter. Rhumbline Advisers grew its holdings in shares of Goosehead Insurance by 4.6% during the second quarter. Rhumbline Advisers now owns 68,064 shares of the company’s stock worth $3,910,000 after purchasing an additional 2,965 shares during the last quarter. Principal Financial Group Inc. grew its stake in Goosehead Insurance by 1.2% during the 2nd quarter. Principal Financial Group Inc. now owns 146,627 shares of the company’s stock worth $8,422,000 after buying an additional 1,698 shares during the last quarter. Finally, BloombergSen Inc. grew its position in shares of Goosehead Insurance by 75.4% during the second quarter. BloombergSen Inc. now owns 4,142 shares of the company’s stock worth $238,000 after acquiring an additional 1,780 shares during the last quarter.

Goosehead Insurance Stock Up 0.2 %

Goosehead Insurance stock opened at $87.42 on Wednesday. The stock’s 50 day moving average price is $79.62 and its 200 day moving average price is $68.78. The company has a market cap of $3.32 billion, a PE ratio of 141.00, a price-to-earnings-growth ratio of 4.28 and a beta of 1.35. The company has a debt-to-equity ratio of 2.31, a current ratio of 1.13 and a quick ratio of 1.14. Goosehead Insurance, Inc has a 1-year low of $50.47 and a 1-year high of $92.76.

Goosehead Insurance (NASDAQ:GSHD) last posted its quarterly earnings results on Wednesday, July 24th. The company reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.04. Goosehead Insurance had a net margin of 6.71% and a return on equity of 244.15%. The business had revenue of $78.10 million for the quarter, compared to analysts’ expectations of $74.31 million. During the same period in the prior year, the company posted $0.25 EPS. The business’s revenue for the quarter was up 12.7% on a year-over-year basis. On average, sell-side analysts predict that Goosehead Insurance, Inc will post 0.75 EPS for the current fiscal year.

Insider Buying and Selling at Goosehead Insurance

In other news, Chairman Mark Evan Jones sold 8,977 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $82.33, for a total transaction of $739,076.41. Following the sale, the chairman now owns 39,451 shares of the company’s stock, valued at approximately $3,248,000.83. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Goosehead Insurance news, major shareholder Patrick Ryan Langston sold 7,674 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $85.19, for a total transaction of $653,748.06. Following the completion of the transaction, the insider now directly owns 5,000 shares in the company, valued at approximately $425,950. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Mark Evan Jones sold 8,977 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $82.33, for a total transaction of $739,076.41. Following the completion of the sale, the chairman now directly owns 39,451 shares in the company, valued at approximately $3,248,000.83. The disclosure for this sale can be found here. Over the last three months, insiders sold 52,798 shares of company stock valued at $4,454,640. Corporate insiders own 48.35% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on GSHD shares. JPMorgan Chase & Co. raised their price objective on shares of Goosehead Insurance from $65.00 to $77.00 and gave the stock a “neutral” rating in a research report on Monday, August 12th. BMO Capital Markets cut Goosehead Insurance from an “outperform” rating to a “market perform” rating and set a $90.00 price target on the stock. in a research report on Thursday, August 22nd. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $84.00 price objective (down from $85.00) on shares of Goosehead Insurance in a research report on Friday, July 26th. Bank of America boosted their target price on Goosehead Insurance from $35.00 to $37.00 and gave the company an “underperform” rating in a report on Tuesday, June 11th. Finally, UBS Group increased their price target on Goosehead Insurance from $92.00 to $105.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Goosehead Insurance presently has a consensus rating of “Hold” and an average price target of $80.40.

Goosehead Insurance Profile

Goosehead Insurance, Inc operates as a holding company for Goosehead Financial, LLC that engages in the provision of personal lines insurance agency services in the United States. The company offers homeowner's, automotive, dwelling property, flood, wind, earthquake, excess liability or umbrella, motorcycle, recreational vehicle, general liability, property, and life insurance products and services.