Invesco Ltd. Raises Position in Goosehead Insurance $GSHD

Key Points

• Invesco Ltd. increased its stake in Goosehead Insurance by 56.8% in Q1, now owning 0.27% of the company valued at approximately $12 million.
• Insider selling has been significant, with major shareholders offloading a total of 258,665 shares worth over $23 million in the past three months.
• Goosehead Insurance reported Q2 earnings of $0.49 EPS, missing estimates, while its revenue grew 20.4% year-over-year.

Invesco Ltd. grew its stake in shares of Goosehead Insurance (NASDAQ:GSHD - Free Report) by 56.8% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 102,402 shares of the company's stock after acquiring an additional 37,098 shares during the quarter. Invesco Ltd. owned about 0.27% of Goosehead Insurance worth $12,090,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Bessemer Group Inc. increased its position in shares of 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 purchasing an additional 191 shares during the last quarter. TCTC Holdings LLC increased its position in shares of Goosehead Insurance by 117.1% during the 1st quarter. TCTC Holdings LLC now owns 330 shares of the company's stock valued at $39,000 after purchasing an additional 178 shares during the last quarter. Larson Financial Group LLC increased its position in shares of Goosehead Insurance by 1,251.6% during the 1st quarter. Larson Financial Group LLC now owns 419 shares of the company's stock valued at $49,000 after purchasing an additional 388 shares during the last quarter. DekaBank Deutsche Girozentrale purchased a new stake in shares of Goosehead Insurance during the 1st quarter valued at about $53,000. Finally, Simplex Trading LLC purchased a new stake in shares of Goosehead Insurance during the 1st quarter valued at about $88,000.

Insider Buying and Selling at Goosehead Insurance

In other news, CFO Mark E. Jr. Jones purchased 1,149 shares of the firm's stock in a transaction on Tuesday, July 29th. The stock was acquired at an average cost of $86.08 per share, with a total value of $98,905.92. Following the completion of the transaction, the chief financial officer owned 3,491 shares in the company, valued at $300,505.28. This represents a 49.06% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Adrienne Kebodeaux sold 3,000 shares of the stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $86.30, for a total transaction of $258,900.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 244,770 shares of company stock valued at $21,568,721. Company insiders own 48.35% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Zacks Research raised Goosehead Insurance from a "strong sell" rating to a "hold" rating in a research report on Monday. Keefe, Bruyette & Woods cut their target price on Goosehead Insurance from $130.00 to $120.00 and set an "outperform" rating for the company in a research report on Thursday, July 24th. Cantor Fitzgerald upgraded Goosehead Insurance to a "strong-buy" rating in a research report on Wednesday, August 13th. UBS Group cut their target price on Goosehead Insurance from $140.00 to $136.00 and set a "buy" rating for the company in a research report on Monday, July 28th. Finally, Piper Sandler reaffirmed a "neutral" rating and issued a $109.00 target price (down from $122.00) on shares of Goosehead Insurance in a report on Thursday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Goosehead Insurance presently has a consensus rating of "Hold" and a consensus price target of $110.91.

Goosehead Insurance Trading Down 2.0%

Goosehead Insurance stock traded down $1.73 during midday trading on Friday, reaching $84.71. The stock had a trading volume of 246,198 shares, compared to its average volume of 358,166. The company has a quick ratio of 2.92, a current ratio of 2.92 and a debt-to-equity ratio of 2.10. Goosehead Insurance has a 52-week low of $79.69 and a 52-week high of $130.39. The firm has a market cap of $3.18 billion, a price-to-earnings ratio of 74.97, a price-to-earnings-growth ratio of 7.40 and a beta of 1.31. The company has a fifty day moving average of $93.67 and a 200 day moving average of $104.44.

Goosehead Insurance (NASDAQ:GSHD - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The company reported $0.49 earnings per share for the quarter, missing analysts' consensus estimates of $0.53 by ($0.04). The firm had revenue of $94.03 million during the quarter, compared to analysts' expectations of $94.18 million. Goosehead Insurance had a negative return on equity of 59.49% and a net margin of 8.76%.The business's revenue for the quarter was up 20.4% compared to the same quarter last year. During the same period last year, the company earned $0.43 earnings per share. Goosehead Insurance has set its FY 2025 guidance at EPS. On average, analysts anticipate that Goosehead Insurance will post 0.83 earnings per share for the current fiscal 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.