Principal Financial Group Inc. Has $10.23 Million Stake in Goosehead Insurance, Inc (NASDAQ:GSHD)

Principal Financial Group Inc. reduced its stake in Goosehead Insurance, Inc (NASDAQ:GSHD) by 21.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 114,521 shares of the company’s stock after selling 32,106 shares during the period. Principal Financial Group Inc. owned about 0.31% of Goosehead Insurance worth $10,227,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Daiwa Securities Group Inc. grew its stake in shares of Goosehead Insurance by 30.4% during the second quarter. Daiwa Securities Group Inc. now owns 35,118 shares of the company’s stock worth $2,017,000 after buying an additional 8,193 shares during the last quarter. Geode Capital Management LLC increased its holdings in Goosehead Insurance by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 643,514 shares of the company’s stock worth $57,476,000 after purchasing an additional 5,969 shares in the last quarter. Quarry LP raised its position in Goosehead Insurance by 2,810.7% in the second quarter. Quarry LP now owns 815 shares of the company’s stock valued at $47,000 after purchasing an additional 787 shares during the last quarter. Dark Forest Capital Management LP acquired a new stake in shares of Goosehead Insurance during the second quarter valued at about $408,000. Finally, BNP Paribas Financial Markets grew its holdings in shares of Goosehead Insurance by 135.1% during the third quarter. BNP Paribas Financial Markets now owns 22,200 shares of the company’s stock worth $1,982,000 after purchasing an additional 12,759 shares during the last quarter.

Wall Street Analyst Weigh In

Several research firms recently commented on GSHD. Truist Financial lifted their target price on shares of Goosehead Insurance from $65.00 to $80.00 and gave the stock a “hold” rating in a research report on Friday, October 4th. Royal Bank of Canada increased their price objective on Goosehead Insurance from $95.00 to $109.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. BMO Capital Markets lifted their target price on Goosehead Insurance from $90.00 to $120.00 and gave the stock a “market perform” rating in a report on Tuesday, November 19th. JMP Securities raised their price objective on Goosehead Insurance from $100.00 to $115.00 and gave the stock a “market outperform” rating in a research report on Thursday, October 24th. Finally, Piper Sandler upped their target price on Goosehead Insurance from $103.00 to $122.00 and gave the company an “overweight” rating in a report on Monday, October 28th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $97.90.

Insider Activity

In related news, CEO Mark Miller sold 58,327 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now owns 30,000 shares in the company, valued at $3,306,600. This represents 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 Patrick Ryan Langston sold 10,000 shares of Goosehead Insurance stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $95.35, for a total value of $953,500.00. Following the transaction, the insider now owns 5,000 shares of the company’s stock, valued at $476,750. This trade represents a 66.67 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 112,255 shares of company stock worth $11,784,327 over the last quarter. 48.35% of the stock is currently owned by corporate insiders.

Goosehead Insurance Stock Down 0.1 %

Shares of NASDAQ GSHD opened at $104.07 on Tuesday. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 37.70. The firm has a market cap of $3.86 billion, a PE ratio of 144.54, a P/E/G ratio of 4.51 and a beta of 1.38. The company’s fifty day simple moving average is $114.35 and its 200 day simple moving average is $90.85. Goosehead Insurance, Inc has a 12-month low of $50.47 and a 12-month high of $130.39.

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

About Goosehead Insurance

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.