Principal Financial Group Inc. Sells 32,106 Shares of Goosehead Insurance, Inc (NASDAQ:GSHD)

Principal Financial Group Inc. lessened its stake in Goosehead Insurance, Inc (NASDAQ:GSHD - Free Report) by 21.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 114,521 shares of the company's stock after selling 32,106 shares during the quarter. Principal Financial Group Inc. owned approximately 0.31% of Goosehead Insurance worth $10,227,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. Whittier Trust Co. of Nevada Inc. bought a new position in Goosehead Insurance during the third quarter worth $29,000. GAMMA Investing LLC lifted its position in shares of 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 buying an additional 231 shares during the last quarter. Cullen Frost Bankers Inc. boosted its holdings in shares of Goosehead Insurance by 49.4% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 635 shares of the company's stock valued at $36,000 after buying an additional 210 shares during the period. Blue Trust Inc. grew its position in shares of Goosehead Insurance by 567.6% during the 3rd quarter. Blue Trust Inc. now owns 474 shares of the company's stock valued at $42,000 after buying an additional 403 shares during the last quarter. Finally, Quarry LP raised its stake in Goosehead Insurance by 2,810.7% during the second quarter. Quarry LP now owns 815 shares of the company's stock worth $47,000 after acquiring an additional 787 shares during the period.

Goosehead Insurance Price Performance

GSHD stock traded up $3.15 during trading on Tuesday, hitting $107.22. The company had a trading volume of 239,873 shares, compared to its average volume of 282,695. The business has a 50 day moving average of $114.74 and a 200 day moving average of $91.52. The firm has a market capitalization of $3.98 billion, a price-to-earnings ratio of 148.92, a P/E/G ratio of 4.51 and a beta of 1.38. 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, Inc has a fifty-two week low of $50.47 and a fifty-two week high of $130.39.

Goosehead Insurance (NASDAQ:GSHD - Get Free Report) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported $0.50 earnings per share 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 during the quarter, compared to analyst estimates of $80.54 million. During the same period in the prior year, the business posted $0.28 EPS. The business's revenue for the quarter was up 9.9% compared to the same quarter last year. As a group, research analysts predict that Goosehead Insurance, Inc will post 0.84 earnings per share for the current year.

Insider Buying and Selling at Goosehead Insurance

In related news, CEO Mark Miller sold 58,327 shares of the firm'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 sale, the chief executive officer now directly owns 30,000 shares in the company, valued at approximately $3,306,600. This trade represents a 66.04 % 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, major shareholder Patrick Ryan Langston sold 10,000 shares of the business's stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $95.35, for a total transaction of $953,500.00. Following the transaction, the insider now owns 5,000 shares in the company, valued at approximately $476,750. This represents a 66.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 112,255 shares of company stock valued at $11,784,327. 48.35% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have commented on GSHD. Truist Financial lifted their target price on Goosehead Insurance from $65.00 to $80.00 and gave the company a "hold" rating in a research note on Friday, October 4th. TD Cowen boosted 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. Piper Sandler increased their target price on Goosehead Insurance from $103.00 to $122.00 and gave the stock an "overweight" rating in a research report on Monday, October 28th. Royal Bank of Canada boosted their price target on shares of Goosehead Insurance from $95.00 to $109.00 and gave the company an "outperform" rating in a report on Thursday, October 24th. Finally, JMP Securities increased their price objective on shares of Goosehead Insurance from $100.00 to $115.00 and gave the stock a "market outperform" rating in a report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Goosehead Insurance presently has an average rating of "Hold" and an average price target of $97.90.

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.