Principal Financial Group Inc. Decreases Stake in Goosehead Insurance, Inc (NASDAQ:GSHD)

Principal Financial Group Inc. lessened its holdings in shares of Goosehead Insurance, Inc (NASDAQ:GSHD) by 21.9% during the 3rd quarter, HoldingsChannel reports. The firm owned 114,521 shares of the company’s stock after selling 32,106 shares during the period. Principal Financial Group Inc.’s holdings in Goosehead Insurance were worth $10,227,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Whittier Trust Co. of Nevada Inc. acquired a new position in Goosehead Insurance during the third quarter worth about $29,000. GAMMA Investing LLC lifted its stake in Goosehead Insurance by 195.8% in the 3rd quarter. GAMMA Investing LLC now owns 349 shares of the company’s stock worth $31,000 after purchasing an additional 231 shares in the last quarter. Blue Trust Inc. boosted its holdings in shares of Goosehead Insurance by 567.6% during the 3rd quarter. Blue Trust Inc. now owns 474 shares of the company’s stock worth $42,000 after purchasing an additional 403 shares during the last quarter. Cullen Frost Bankers Inc. grew its position in shares of Goosehead Insurance by 49.4% in the second quarter. Cullen Frost Bankers Inc. now owns 635 shares of the company’s stock valued at $36,000 after purchasing an additional 210 shares in the last quarter. Finally, Financial Management Professionals Inc. acquired a new stake in shares of Goosehead Insurance in the third quarter valued at approximately $60,000.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on GSHD shares. TD Cowen lowered Goosehead Insurance from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $98.00 to $94.00 in a research note on Thursday, August 15th. UBS Group boosted their price target on shares of Goosehead Insurance from $92.00 to $105.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. JMP Securities raised their price objective on shares of Goosehead Insurance from $100.00 to $115.00 and gave the stock a “market outperform” rating in a research report on Thursday, October 24th. BMO Capital Markets downgraded shares of Goosehead Insurance from an “outperform” rating to a “market perform” rating and set a $90.00 target price on the stock. in a research note on Thursday, August 22nd. Finally, Piper Sandler raised their price target on shares of Goosehead Insurance from $103.00 to $122.00 and gave the stock an “overweight” rating in a report on Monday, October 28th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $91.30.

Goosehead Insurance Stock Performance

NASDAQ:GSHD opened at $118.40 on Tuesday. Goosehead Insurance, Inc has a fifty-two week low of $50.47 and a fifty-two week high of $124.00. The company has a debt-to-equity ratio of 37.70, a quick ratio of 1.55 and a current ratio of 1.55. The company has a 50 day moving average price of $98.25 and a 200 day moving average price of $79.52. The stock has a market capitalization of $4.39 billion, a P/E ratio of 164.44, a PEG ratio of 4.58 and a beta of 1.32.

Goosehead Insurance (NASDAQ:GSHD) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.05. Goosehead Insurance had a return on equity of 284.41% and a net margin of 6.77%. The firm had revenue of $78.04 million for the quarter, compared to the consensus estimate of $80.54 million. During the same quarter in the previous year, the business earned $0.28 EPS. The company’s quarterly revenue was up 9.9% compared to the same quarter last year. Equities research analysts forecast that Goosehead Insurance, Inc will post 0.84 EPS for the current year.

Insiders Place Their Bets

In other Goosehead Insurance news, CEO Mark Miller sold 58,327 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $110.22, for a total transaction of $6,428,801.94. Following the completion of the transaction, the chief executive officer now owns 30,000 shares in the company, valued at $3,306,600. The trade was a 66.04 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Adrienne Kebodeaux sold 43,928 shares of the firm’s stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $100.21, for a total transaction of $4,402,024.88. The disclosure for this sale can be found here. Insiders have sold 145,262 shares of company stock worth $14,589,805 over the last three months. Company insiders own 48.35% of the company’s stock.

Goosehead Insurance Company 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.