Bank of New York Mellon Corp Reduces Stake in Goosehead Insurance (NASDAQ:GSHD)

Bank of New York Mellon Corp cut its position in Goosehead Insurance (NASDAQ:GSHD - Free Report) by 3.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 140,967 shares of the company's stock after selling 5,612 shares during the quarter. Bank of New York Mellon Corp owned 0.38% of Goosehead Insurance worth $16,643,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of GSHD. Bessemer Group Inc. raised its stake in Goosehead Insurance by 192.9% during the 1st quarter. Bessemer Group Inc. now owns 290 shares of the company's stock valued at $34,000 after acquiring an additional 191 shares during the last quarter. KBC Group NV raised its stake in Goosehead Insurance by 20.7% during the 1st quarter. KBC Group NV now owns 1,101 shares of the company's stock valued at $130,000 after acquiring an additional 189 shares during the last quarter. New Age Alpha Advisors LLC purchased a new stake in Goosehead Insurance during the 4th quarter valued at approximately $148,000. Systematic Alpha Investments LLC purchased a new stake in Goosehead Insurance during the 4th quarter valued at approximately $214,000. Finally, Cibc World Markets Corp purchased a new stake in Goosehead Insurance during the 4th quarter valued at approximately $225,000.

Insider Activity

In related news, major shareholder Lindy Langston sold 2,853 shares of the stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $110.16, for a total value of $314,286.48. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, General Counsel John Terry O'connor sold 2,500 shares of the stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $104.42, for a total transaction of $261,050.00. Following the completion of the sale, the general counsel owned 1,000 shares in the company, valued at approximately $104,420. This trade represents a 71.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 118,966 shares of company stock valued at $12,407,821 over the last three months. 48.35% of the stock is owned by insiders.

Goosehead Insurance Price Performance

NASDAQ:GSHD traded down $0.11 during midday trading on Friday, hitting $102.09. 147,469 shares of the stock were exchanged, compared to its average volume of 269,546. The company has a market capitalization of $3.83 billion, a price-to-earnings ratio of 85.79, a P/E/G ratio of 7.23 and a beta of 1.42. Goosehead Insurance has a one year low of $62.68 and a one year high of $130.39. The business has a 50-day moving average price of $104.78 and a two-hundred day moving average price of $108.13. The company has a current ratio of 2.79, a quick ratio of 2.79 and a debt-to-equity ratio of 2.10.

Goosehead Insurance (NASDAQ:GSHD - Get Free Report) last released its earnings results on Wednesday, April 23rd. The company reported $0.26 earnings per share for the quarter, topping analysts' consensus estimates of $0.24 by $0.02. Goosehead Insurance had a net margin of 9.51% and a negative return on equity of 99.91%. The firm had revenue of $75.58 million during the quarter, compared to analyst estimates of $78.59 million. During the same quarter in the previous year, the business earned $0.28 EPS. The business's revenue was up 17.2% on a year-over-year basis. Sell-side analysts predict that Goosehead Insurance will post 0.83 EPS for the current year.

Analysts Set New Price Targets

GSHD has been the topic of a number of research reports. BMO Capital Markets lowered their price target on Goosehead Insurance from $148.00 to $142.00 and set a "market perform" rating on the stock in a report on Monday, April 28th. JMP Securities reiterated a "market outperform" rating and set a $150.00 target price on shares of Goosehead Insurance in a report on Thursday, April 24th. UBS Group lowered their target price on Goosehead Insurance from $145.00 to $140.00 and set a "buy" rating on the stock in a report on Monday, April 28th. JPMorgan Chase & Co. lowered their target price on Goosehead Insurance from $100.00 to $98.00 and set a "neutral" rating on the stock in a report on Thursday, April 24th. Finally, Keefe, Bruyette & Woods raised their price objective on Goosehead Insurance from $125.00 to $130.00 and gave the stock an "outperform" rating in a report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $115.40.

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.