National Bank of Canada FI Sells 65,152 Shares of StepStone Group LP (NASDAQ:STEP)

National Bank of Canada FI decreased its stake in shares of StepStone Group LP (NASDAQ:STEP) by 55.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 52,982 shares of the company’s stock after selling 65,152 shares during the period. National Bank of Canada FI’s holdings in StepStone Group were worth $3,070,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Raymond James Financial Inc. bought a new stake in shares of StepStone Group during the fourth quarter worth approximately $46,163,000. Vanguard Group Inc. lifted its holdings in 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 purchasing an additional 411,133 shares during the last quarter. CIBC Private Wealth Group LLC boosted its stake in StepStone Group by 26.8% in the 4th quarter. CIBC Private Wealth Group LLC now owns 1,409,089 shares of the company’s stock valued at $85,518,000 after purchasing an additional 297,989 shares during the period. State Street Corp grew its holdings in StepStone Group by 12.4% in 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. Finally, Geode Capital Management LLC increased its position in StepStone Group by 17.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,457,690 shares of the company’s stock worth $82,856,000 after buying an additional 216,029 shares during the period. Institutional investors and hedge funds own 55.54% of the company’s stock.

Insider Activity

In other StepStone Group news, CEO Scott W. Hart sold 10,000 shares of the firm’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 sale, the chief executive officer now owns 110,000 shares in the company, valued at $6,757,300. This trade represents a 8.33 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Anthony Keathley sold 538 shares of the company’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $63.00, for a total transaction of $33,894.00. Following the transaction, the chief accounting officer now owns 1,386 shares of the company’s stock, valued at $87,318. This trade represents a 27.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 18.44% of the company’s stock.

StepStone Group Trading Down 0.7 %

Shares of StepStone Group stock opened at $43.58 on Tuesday. The company has a 50 day moving average of $57.25 and a 200-day moving average of $59.91. The company has a market cap of $5.05 billion, a PE ratio of -25.79 and a beta of 1.36. StepStone Group LP has a 1-year low of $34.64 and a 1-year high of $70.38.

StepStone Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date was Friday, February 28th. StepStone Group’s dividend payout ratio is presently -56.80%.

Analyst Ratings Changes

Several research firms recently commented on STEP. Barclays decreased their price target on shares of StepStone Group from $69.00 to $48.00 and set an “equal weight” rating on the stock in a research note on Monday. Evercore ISI increased their target price on shares of StepStone Group from $63.00 to $69.00 and gave the stock an “outperform” rating in a research report on Monday, February 10th. Finally, Oppenheimer lifted their price target on shares of StepStone Group from $81.00 to $85.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Four 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, the company presently has an average rating of “Hold” and an average target price of $66.21.

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.