StepStone Group LP (NASDAQ:STEP) CEO Sells $614,300.00 in Stock

StepStone Group LP (NASDAQ:STEP) CEO Scott W. Hart sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $61.43, for a total value of $614,300.00. Following the transaction, the chief executive officer now owns 110,000 shares of the company’s stock, valued at approximately $6,757,300. This trade represents a 8.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

StepStone Group Stock Performance

Shares of STEP traded down $2.14 during mid-day trading on Friday, hitting $58.59. 391,914 shares of the stock were exchanged, compared to its average volume of 474,118. The company has a market cap of $6.80 billion, a PE ratio of -34.67 and a beta of 1.31. StepStone Group LP has a 52-week low of $32.58 and a 52-week high of $70.38. The firm has a 50-day moving average of $61.22 and a two-hundred day moving average of $59.47.

StepStone Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be issued a dividend of $0.24 per share. The ex-dividend date is Friday, February 28th. This represents a $0.96 annualized dividend and a dividend yield of 1.64%. StepStone Group’s dividend payout ratio (DPR) is -56.80%.

Institutional Trading of StepStone Group

Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of StepStone Group by 6.3% during the 4th quarter. Vanguard Group Inc. now owns 6,938,181 shares of the company’s stock worth $401,582,000 after acquiring an additional 411,133 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in StepStone Group by 19.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,599,875 shares of the company’s stock valued at $324,122,000 after buying an additional 895,521 shares during the period. FMR LLC raised its holdings in StepStone Group by 3.7% during the 3rd quarter. FMR LLC now owns 3,999,819 shares of the company’s stock valued at $227,310,000 after buying an additional 141,637 shares during the period. Invesco Ltd. raised its holdings in StepStone Group by 11.5% during the 4th quarter. Invesco Ltd. now owns 3,542,270 shares of the company’s stock valued at $205,027,000 after buying an additional 366,154 shares during the period. Finally, State Street Corp raised its holdings in 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 during the period. 55.54% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on STEP. Evercore ISI boosted their price objective on StepStone Group from $63.00 to $69.00 and gave the company an “outperform” rating in a research note on Monday, February 10th. The Goldman Sachs Group upped their price target on StepStone Group from $64.00 to $70.50 and gave the stock a “neutral” rating in a research note on Tuesday, November 19th. Morgan Stanley upped their price target on StepStone Group from $60.00 to $65.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 14th. Oppenheimer upped their price target on StepStone Group from $81.00 to $85.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. Finally, Barclays upped their price target on StepStone Group from $66.00 to $69.00 and gave the stock an “equal weight” rating in a research note on Friday, February 7th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $69.21.

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.