Goosehead Insurance (NASDAQ:GSHD) Shares Gap Up on Analyst Upgrade

Goosehead Insurance, Inc (NASDAQ:GSHD)’s share price gapped up before the market opened on Tuesday after Bank of America raised their price target on the stock from $39.00 to $43.00. The stock had previously closed at $105.65, but opened at $114.87. Bank of America currently has an underperform rating on the stock. Goosehead Insurance shares last traded at $119.98, with a volume of 82,035 shares changing hands.

GSHD has been the subject of several other reports. Truist Financial restated a “hold” rating and issued a $90.00 price objective (up from $80.00) on shares of Goosehead Insurance in a research note on Tuesday. BMO Capital Markets raised their price objective on Goosehead Insurance from $90.00 to $120.00 and gave the stock a “market perform” rating in a research note on Tuesday, November 19th. TD Cowen lifted their price objective on Goosehead Insurance from $94.00 to $130.00 and gave the company a “hold” rating in a research report on Wednesday, November 20th. JPMorgan Chase & Co. increased their target price on shares of Goosehead Insurance from $77.00 to $90.00 and gave the stock a “neutral” rating in a report on Friday, January 3rd. Finally, Piper Sandler raised their target price on shares of Goosehead Insurance from $103.00 to $122.00 and gave the stock an “overweight” rating in a research note on Monday, October 28th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $100.80.

Institutional Trading of Goosehead Insurance

Several hedge funds have recently modified their holdings of the company. Geode Capital Management LLC raised its stake in Goosehead Insurance by 0.9% during the third quarter. Geode Capital Management LLC now owns 643,514 shares of the company’s stock valued at $57,476,000 after purchasing an additional 5,969 shares in the last quarter. BNP Paribas Financial Markets raised its position in shares of Goosehead Insurance by 135.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 22,200 shares of the company’s stock valued at $1,982,000 after buying an additional 12,759 shares in the last quarter. Alberta Investment Management Corp lifted its holdings in shares of Goosehead Insurance by 232.8% in the 4th quarter. Alberta Investment Management Corp now owns 36,588 shares of the company’s stock valued at $3,923,000 after acquiring an additional 25,595 shares during the last quarter. Entropy Technologies LP purchased a new position in Goosehead Insurance in the fourth quarter worth about $247,000. Finally, Verition Fund Management LLC bought a new stake in Goosehead Insurance during the third quarter worth approximately $616,000.

Goosehead Insurance Stock Performance

The firm has a market capitalization of $4.54 billion, a PE ratio of 170.07, a P/E/G ratio of 5.17 and a beta of 1.43. The business has a 50-day simple moving average of $107.74 and a 200-day simple moving average of $103.00. The company has a debt-to-equity ratio of 37.70, a current ratio of 1.55 and a quick ratio of 1.55.

Goosehead Insurance Increases Dividend

The business also recently declared a dividend, which was paid on Friday, January 31st. Investors of record on Tuesday, January 21st were given a $5.91 dividend. The ex-dividend date was Tuesday, January 21st. This is an increase from Goosehead Insurance’s previous dividend of $1.63. Goosehead Insurance’s dividend payout ratio (DPR) is currently 638.89%.

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.