Bank of New York Mellon Corp Has $15.72 Million Stake in Goosehead Insurance, Inc (NASDAQ:GSHD)

Bank of New York Mellon Corp decreased its holdings in shares of Goosehead Insurance, Inc (NASDAQ:GSHD - Free Report) by 2.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 146,579 shares of the company's stock after selling 4,107 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.39% of Goosehead Insurance worth $15,716,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its position in Goosehead Insurance by 0.9% during the third quarter. Geode Capital Management LLC now owns 643,514 shares of the company's stock worth $57,476,000 after acquiring an additional 5,969 shares in the last quarter. Alberta Investment Management Corp raised its position in Goosehead Insurance by 232.8% during the fourth quarter. Alberta Investment Management Corp now owns 36,588 shares of the company's stock worth $3,923,000 after acquiring an additional 25,595 shares in the last quarter. BNP Paribas Financial Markets raised its position in 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 acquiring an additional 12,759 shares in the last quarter. Principal Financial Group Inc. raised its position in Goosehead Insurance by 3.8% during the fourth quarter. Principal Financial Group Inc. now owns 118,854 shares of the company's stock worth $12,744,000 after acquiring an additional 4,333 shares in the last quarter. Finally, Entropy Technologies LP bought a new stake in Goosehead Insurance during the fourth quarter worth $247,000.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on GSHD shares. JPMorgan Chase & Co. upped their price target on shares of Goosehead Insurance from $77.00 to $90.00 and gave the stock a "neutral" rating in a research report on Friday, January 3rd. UBS Group increased their price objective on shares of Goosehead Insurance from $120.00 to $145.00 and gave the company a "buy" rating in a research report on Friday, March 7th. Bank of America increased their price objective on shares of Goosehead Insurance from $39.00 to $43.00 and gave the company an "underperform" rating in a research report on Tuesday, February 25th. Keefe, Bruyette & Woods increased their price objective on shares of Goosehead Insurance from $110.00 to $127.00 and gave the company an "outperform" rating in a research report on Wednesday, February 26th. Finally, Truist Financial reissued a "hold" rating and issued a $90.00 price objective (up from $80.00) on shares of Goosehead Insurance in a research report on Tuesday, February 25th. One equities 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. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $109.10.

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Goosehead Insurance Trading Up 0.2 %

GSHD stock opened at $116.79 on Wednesday. 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's 50-day simple moving average is $110.66 and its 200 day simple moving average is $105.62. Goosehead Insurance, Inc has a 52 week low of $50.47 and a 52 week high of $130.39. The company has a market capitalization of $4.33 billion, a PE ratio of 162.21, a price-to-earnings-growth ratio of 5.17 and a beta of 1.49.

Goosehead Insurance Increases Dividend

The firm also recently declared a dividend, which was paid on Friday, January 31st. Investors of record on Tuesday, January 21st were paid 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 is 400.00%.

Insider Activity at Goosehead Insurance

In other Goosehead Insurance news, major shareholder & Robyn Jones Descendants Mark sold 19,600 shares of the stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $123.09, for a total transaction of $2,412,564.00. Following the sale, the insider now directly owns 132,349 shares in the company, valued at $16,290,838.41. This represents a 12.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Thomas Mcconnon sold 205,000 shares of the stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $121.35, for a total transaction of $24,876,750.00. Following the sale, the director now owns 339,008 shares in the company, valued at $41,138,620.80. The trade was a 37.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 264,600 shares of company stock worth $32,050,914. Corporate insiders own 48.35% of the company's stock.

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.

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