StepStone Group LP (NASDAQ:STEP) CAO Sells $50,191.65 in Stock

StepStone Group LP (NASDAQ:STEP) CAO Anthony Keathley sold 729 shares of the business’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $68.85, for a total value of $50,191.65. Following the completion of the sale, the chief accounting officer now directly owns 2,158 shares of the company’s stock, valued at approximately $148,578.30. This trade represents a 25.25 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

StepStone Group Trading Down 0.6 %

Shares of STEP opened at $65.00 on Friday. StepStone Group LP has a 1-year low of $25.06 and a 1-year high of $70.38. The firm’s 50-day moving average price is $59.47 and its 200-day moving average price is $50.49. The firm has a market capitalization of $7.19 billion, a price-to-earnings ratio of 108.33 and a beta of 1.27.

StepStone Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be given a dividend of $0.24 per share. The ex-dividend date is Friday, November 29th. This represents a $0.96 annualized dividend and a yield of 1.48%. StepStone Group’s payout ratio is 160.00%.

Analysts Set New Price Targets

STEP has been the subject of several recent research reports. JPMorgan Chase & Co. boosted their price objective on StepStone Group from $56.00 to $61.00 and gave the company an “overweight” rating in a research report on Tuesday, October 1st. Oppenheimer increased their price target on shares of StepStone Group from $56.00 to $73.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. The Goldman Sachs Group boosted their price objective on shares of StepStone Group from $51.50 to $57.00 and gave the company a “neutral” rating in a research report on Monday, September 30th. UBS Group increased their target price on shares of StepStone Group from $55.00 to $65.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. Finally, Morgan Stanley boosted their price target on StepStone Group from $60.00 to $65.00 and gave the company an “equal weight” rating in a report on Thursday. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $62.43.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD boosted its position in shares of 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 valued at $30,396,000 after purchasing an additional 510,283 shares in the last quarter. State Street Corp boosted its holdings in shares of StepStone Group by 12.4% during the 3rd quarter. State Street Corp now owns 2,401,034 shares of the company’s stock valued at $136,451,000 after buying an additional 265,240 shares in the last quarter. Principal Financial Group Inc. grew its position in shares of StepStone Group by 991.1% in the 2nd quarter. Principal Financial Group Inc. now owns 291,530 shares of the company’s stock worth $13,378,000 after buying an additional 264,811 shares during the period. Bank of New York Mellon Corp lifted its position in StepStone Group by 25.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,115,384 shares of the company’s stock valued at $51,185,000 after acquiring an additional 225,201 shares during the period. Finally, Geode Capital Management LLC boosted its stake in StepStone Group by 17.4% during the third quarter. Geode Capital Management LLC now owns 1,457,690 shares of the company’s stock worth $82,856,000 after acquiring an additional 216,029 shares in the last quarter. Institutional investors own 55.54% of the company’s stock.

StepStone Group Company Profile

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.