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

Principal Financial Group Inc. reduced its position in Goosehead Insurance, Inc (NASDAQ:GSHD) by 21.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 114,521 shares of the company’s stock after selling 32,106 shares during the quarter. Principal Financial Group Inc. owned about 0.30% of Goosehead Insurance worth $10,227,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the business. Whittier Trust Co. of Nevada Inc. acquired a new stake in shares of Goosehead Insurance in the 3rd quarter worth $29,000. GAMMA Investing LLC grew its stake in shares of Goosehead Insurance by 195.8% during the third quarter. GAMMA Investing LLC now owns 349 shares of the company’s stock worth $31,000 after acquiring an additional 231 shares during the last quarter. Cullen Frost Bankers Inc. increased its holdings in shares of Goosehead Insurance by 49.4% during the second quarter. Cullen Frost Bankers Inc. now owns 635 shares of the company’s stock valued at $36,000 after acquiring an additional 210 shares in the last quarter. Blue Trust Inc. raised its position in shares of Goosehead Insurance by 567.6% in the 3rd quarter. Blue Trust Inc. now owns 474 shares of the company’s stock valued at $42,000 after purchasing an additional 403 shares during the last quarter. Finally, Quarry LP boosted its stake in Goosehead Insurance by 2,810.7% in the 2nd quarter. Quarry LP now owns 815 shares of the company’s stock worth $47,000 after purchasing an additional 787 shares in the last quarter.

Insider Transactions at Goosehead Insurance

In related news, CEO Mark Miller sold 58,327 shares of the business’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $110.22, for a total value of $6,428,801.94. Following the completion of the sale, the chief executive officer now owns 30,000 shares of the company’s stock, valued at approximately $3,306,600. The trade was a 66.04 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Adrienne Kebodeaux sold 43,928 shares of the 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 a total of 145,262 shares of company stock valued at $14,589,805 in the last ninety days. 48.35% of the stock is currently owned by corporate insiders.

Goosehead Insurance Stock Down 0.6 %

Shares of GSHD stock opened at $118.40 on Tuesday. Goosehead Insurance, Inc has a twelve month low of $50.47 and a twelve month high of $124.00. The stock has a market cap of $4.39 billion, a P/E ratio of 164.44, a P/E/G ratio of 4.58 and a beta of 1.32. The stock has a 50 day moving average of $98.25 and a 200 day moving average of $79.52. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 37.70.

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

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Piper Sandler upped their price target on shares of Goosehead Insurance from $103.00 to $122.00 and gave the company an “overweight” rating in a research note on Monday, October 28th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $84.00 price target (down previously from $85.00) on shares of Goosehead Insurance in a research report on Friday, July 26th. BMO Capital Markets lowered Goosehead Insurance from an “outperform” rating to a “market perform” rating and set a $90.00 price objective on the stock. in a report on Thursday, August 22nd. TD Cowen cut Goosehead Insurance from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $98.00 to $94.00 in a research note on Thursday, August 15th. Finally, UBS Group upped their target price on Goosehead Insurance from $92.00 to $105.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $91.30.

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.