StepStone Group LP (NASDAQ:STEP) CFO David Y. Park Sells 3,000 Shares

StepStone Group LP (NASDAQ:STEP) CFO David Y. Park sold 3,000 shares of StepStone Group stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $68.21, for a total value of $204,630.00. Following the transaction, the chief financial officer now directly owns 20,251 shares in the company, valued at $1,381,320.71. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

StepStone Group Trading Down 5.7 %

Shares of STEP stock traded down $3.91 during trading on Wednesday, hitting $64.12. The company’s stock had a trading volume of 730,742 shares, compared to its average volume of 575,807. The company has a market cap of $7.09 billion, a PE ratio of 110.19 and a beta of 1.27. The business has a fifty day moving average of $58.78 and a 200-day moving average of $50.09. StepStone Group LP has a 52 week low of $25.06 and a 52 week high of $70.38.

StepStone Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be issued a dividend of $0.24 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.96 dividend on an annualized basis and a yield of 1.50%. StepStone Group’s payout ratio is 160.00%.

Analysts Set New Price Targets

STEP has been the topic of a number of recent analyst reports. UBS Group boosted their price objective on StepStone Group from $55.00 to $65.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. JPMorgan Chase & Co. upped their price target on StepStone Group from $56.00 to $61.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 1st. Oppenheimer upped their price target on StepStone Group from $56.00 to $73.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Evercore ISI upped their price target on StepStone Group from $52.00 to $55.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Finally, Morgan Stanley upped their price target on StepStone Group from $52.00 to $60.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 10th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, StepStone Group presently has a consensus rating of “Hold” and a consensus price target of $61.71.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in STEP. FMR LLC boosted its position in shares of StepStone Group by 3.7% in the third quarter. FMR LLC now owns 3,999,819 shares of the company’s stock valued at $227,310,000 after acquiring an additional 141,637 shares during the period. Bank of New York Mellon Corp raised its position in shares of StepStone Group by 25.3% in the second quarter. Bank of New York Mellon Corp now owns 1,115,384 shares of the company’s stock worth $51,185,000 after buying an additional 225,201 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in StepStone Group by 150.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 850,463 shares of the company’s stock worth $30,396,000 after buying an additional 510,283 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in StepStone Group by 8.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 800,909 shares of the company’s stock worth $36,753,000 after acquiring an additional 60,339 shares during the last quarter. Finally, William Blair Investment Management LLC raised its holdings in shares of StepStone Group by 1.0% in the 1st quarter. William Blair Investment Management LLC now owns 608,829 shares of the company’s stock valued at $21,760,000 after acquiring an additional 6,052 shares in the last quarter. Institutional investors own 55.54% of the company’s stock.

About StepStone Group

StepStone Group Inc is a private equity and venture capital firm specializing in direct, fund of funds, secondary direct, and secondary indirect investments. For direct investment, it seeks to invest in private debt, venture debt, incubation, mezzanine, distressed/vulture, seed/startup, early venture, mid venture, late venture, emerging growth, later stage, turnaround, growth capital, industry consolidation, recapitalization, buyout investments in mature and middle market companies.