Principal Financial Group Inc. Grows Stake in Goosehead Insurance $GSHD

Key Points

• Principal Financial Group increased its stake in Goosehead Insurance by 23.2% in the first quarter, ending with 219,745 shares valued at about $9.4 million.
• Goosehead Insurance shares were up 9.0% to $58.75, and the stock has traded between a 52-week low of $33.68 and high of $93.90.
• The company beat earnings expectations for the latest quarter, reporting EPS of $0.64 versus $0.47 expected, though revenue of $95.63 million came in below estimates.

Principal Financial Group Inc. raised its holdings in shares of Goosehead Insurance (NASDAQ:GSHD - Free Report) by 23.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 219,745 shares of the company's stock after purchasing an additional 41,334 shares during the period. Principal Financial Group Inc. owned 0.62% of Goosehead Insurance worth $9,374,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in GSHD. Phocas Financial Corp. purchased a new stake in Goosehead Insurance in the fourth quarter valued at about $3,669,000. M&T Bank Corp grew its stake in shares of Goosehead Insurance by 1,075.4% during the fourth quarter. M&T Bank Corp now owns 115,834 shares of the company's stock worth $8,531,000 after acquiring an additional 105,979 shares during the last quarter. Langdon Equity Partners acquired a new position in shares of Goosehead Insurance during the fourth quarter valued at about $41,892,000. Northwestern Mutual Wealth Management Co. raised its position in shares of Goosehead Insurance by 43,893.9% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 65,111 shares of the company's stock valued at $4,795,000 after purchasing an additional 64,963 shares during the last quarter. Finally, UBS Group AG boosted its stake in Goosehead Insurance by 26.7% in the 4th quarter. UBS Group AG now owns 156,019 shares of the company's stock worth $11,491,000 after purchasing an additional 32,920 shares in the last quarter.

Goosehead Insurance Trading Up 9.0%

Shares of NASDAQ GSHD opened at $58.75 on Friday. Goosehead Insurance has a 12 month low of $33.68 and a 12 month high of $93.90. The company has a 50 day simple moving average of $44.51 and a two-hundred day simple moving average of $49.11. The stock has a market cap of $2.09 billion, a price-to-earnings ratio of 42.88, a PEG ratio of 2.08 and a beta of 1.41.

Goosehead Insurance (NASDAQ:GSHD - Get Free Report) last released its quarterly earnings data on Wednesday, July 22nd. The company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.47 by $0.17. The business had revenue of $95.63 million for the quarter, compared to the consensus estimate of $103.30 million. Goosehead Insurance had a net margin of 8.78% and a negative return on equity of 21.00%. The business's revenue for the quarter was up 20.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.49 EPS. Analysts forecast that Goosehead Insurance will post 1.45 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on GSHD. Weiss Ratings raised shares of Goosehead Insurance from a "sell (d)" rating to a "sell (d+)" rating in a report on Thursday, July 9th. JPMorgan Chase & Co. upped their target price on Goosehead Insurance from $55.00 to $60.00 and gave the company a "neutral" rating in a research report on Monday, July 13th. UBS Group raised their target price on Goosehead Insurance from $67.00 to $70.00 and gave the stock a "buy" rating in a research note on Wednesday, July 8th. Royal Bank Of Canada lifted their price target on Goosehead Insurance from $55.00 to $58.00 and gave the stock a "sector perform" rating in a research report on Thursday. Finally, Piper Sandler boosted their price target on Goosehead Insurance from $52.00 to $72.00 and gave the company an "overweight" rating in a research note on Wednesday, July 15th. Seven analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Goosehead Insurance currently has a consensus rating of "Hold" and an average price target of $68.27.

Insider Buying and Selling at Goosehead Insurance

In other Goosehead Insurance news, major shareholder Patrick Ryan Langston purchased 2,800 shares of the stock in a transaction on Friday, May 29th. The shares were bought at an average cost of $35.56 per share, with a total value of $99,568.00. Following the completion of the acquisition, the insider owned 7,800 shares in the company, valued at $277,368. This trade represents a 56.00% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO John Arthur Martin purchased 5,000 shares of the business's stock in a transaction on Thursday, May 28th. The shares were bought at an average cost of $34.73 per share, for a total transaction of $173,650.00. Following the completion of the transaction, the chief financial officer directly owned 5,000 shares in the company, valued at $173,650. This trade represents a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders have purchased 12,800 shares of company stock valued at $480,718 and have sold 219,192 shares valued at $9,092,267. Company insiders own 38.07% of the company's stock.

Goosehead Insurance Company Profile

Goosehead Insurance NASDAQ: GSHD is a technology-driven insurance agency that connects consumers with a broad range of personal and commercial insurance products through an extensive network of independent insurance advisors. The company specializes in homeowners, auto, flood, dwelling fire, umbrella, life, and commercial lines coverage, working with multiple national and regional carriers to offer tailored policies. By combining advanced quoting tools with local market expertise, Goosehead streamlines the insurance shopping process and helps clients find competitive coverage options.

Founded in 2003 and headquartered in Westlake, Texas, Goosehead has grown its footprint across more than 40 states in the U.S.

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