The Manufacturers Life Insurance Company Lowers Position in Goosehead Insurance, Inc (NASDAQ:GSHD)

The Manufacturers Life Insurance Company reduced its stake in Goosehead Insurance, Inc (NASDAQ:GSHD) by 5.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 11,859 shares of the company’s stock after selling 692 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Goosehead Insurance were worth $1,059,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of GSHD. Kayne Anderson Rudnick Investment Management LLC increased its position in shares of Goosehead Insurance by 34.5% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,428,907 shares of the company’s stock valued at $196,956,000 after purchasing an additional 879,959 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of Goosehead Insurance by 35.7% during the 2nd quarter. American Century Companies Inc. now owns 420,934 shares of the company’s stock valued at $24,179,000 after buying an additional 110,832 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Goosehead Insurance by 14.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 393,093 shares of the company’s stock valued at $22,580,000 after buying an additional 51,023 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Goosehead Insurance by 6.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 177,516 shares of the company’s stock worth $10,197,000 after purchasing an additional 11,139 shares during the period. Finally, Sei Investments Co. increased its stake in Goosehead Insurance by 32.4% in the 2nd quarter. Sei Investments Co. now owns 164,074 shares of the company’s stock worth $9,424,000 after purchasing an additional 40,107 shares during the period.

Analyst Upgrades and Downgrades

GSHD has been the topic of a number of analyst reports. TD Cowen lifted their price target on Goosehead Insurance from $94.00 to $130.00 and gave the stock a “hold” rating in a research note on Wednesday, November 20th. BMO Capital Markets lifted their price target on Goosehead Insurance from $90.00 to $120.00 and gave the company a “market perform” rating in a research report on Tuesday, November 19th. Piper Sandler lifted their price target on Goosehead Insurance from $103.00 to $122.00 and gave the company an “overweight” rating in a research report on Monday, October 28th. JMP Securities boosted their target price on Goosehead Insurance from $100.00 to $115.00 and gave the stock a “market outperform” rating in a report on Thursday, October 24th. Finally, Royal Bank of Canada boosted their price target on Goosehead Insurance from $95.00 to $109.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $97.90.

Insider Activity at Goosehead Insurance

In other news, CEO Mark Miller sold 58,327 shares of the stock in a transaction that occurred on Thursday, November 7th. The stock was 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 directly owns 30,000 shares in the company, valued at approximately $3,306,600. This represents a 66.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Patrick Ryan Langston sold 4,814 shares of the firm’s stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $90.26, for a total value of $434,511.64. Following the transaction, the insider now owns 5,000 shares in the company, valued at $451,300. The trade was a 49.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 122,255 shares of company stock valued at $12,686,800. Insiders own 48.35% of the company’s stock.

Goosehead Insurance Stock Performance

Shares of GSHD opened at $117.11 on Thursday. 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 business has a 50-day simple moving average of $110.43 and a two-hundred day simple moving average of $86.74. The stock has a market cap of $4.35 billion, a price-to-earnings ratio of 162.65, a PEG ratio of 4.78 and a beta of 1.38. Goosehead Insurance, Inc has a 52 week low of $50.47 and a 52 week high of $130.39.

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