Wellington Management Group LLP Cuts Holdings in StepStone Group LP (NASDAQ:STEP)

Wellington Management Group LLP reduced its holdings in StepStone Group LP (NASDAQ:STEP) by 36.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,485,680 shares of the company’s stock after selling 2,013,672 shares during the quarter. Wellington Management Group LLP owned about 3.01% of StepStone Group worth $201,751,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Amundi increased its holdings in StepStone Group by 26.7% in the fourth quarter. Amundi now owns 730 shares of the company’s stock valued at $42,000 after buying an additional 154 shares in the last quarter. Mutual of America Capital Management LLC increased its stake in StepStone Group by 1.7% in the 4th quarter. Mutual of America Capital Management LLC now owns 9,578 shares of the company’s stock valued at $554,000 after purchasing an additional 157 shares in the last quarter. Blue Trust Inc. raised its holdings in StepStone Group by 25.5% during the fourth quarter. Blue Trust Inc. now owns 1,079 shares of the company’s stock worth $61,000 after purchasing an additional 219 shares during the last quarter. GAMMA Investing LLC grew its holdings in StepStone Group by 36.6% in the fourth quarter. GAMMA Investing LLC now owns 844 shares of the company’s stock valued at $49,000 after purchasing an additional 226 shares during the last quarter. Finally, Louisiana State Employees Retirement System increased its position in shares of StepStone Group by 1.0% in the fourth quarter. Louisiana State Employees Retirement System now owns 30,600 shares of the company’s stock valued at $1,771,000 after buying an additional 300 shares in the last quarter. Institutional investors and hedge funds own 55.54% of the company’s stock.

Insider Buying and Selling

In other news, CAO Anthony Keathley sold 538 shares of the stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $63.00, for a total transaction of $33,894.00. Following the transaction, the chief accounting officer now directly owns 1,386 shares in the company, valued at $87,318. This represents a 27.96 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 transaction of $614,300.00. Following the completion of the sale, the chief executive officer now owns 110,000 shares of the company’s stock, valued at approximately $6,757,300. The trade was a 8.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 18.44% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Evercore ISI boosted their price objective 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. Barclays increased their price target on shares of StepStone Group from $66.00 to $69.00 and gave the company an “equal weight” rating in a research report on Friday, February 7th. Finally, Oppenheimer lifted their price objective on StepStone Group from $81.00 to $85.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Four 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 an average rating of “Hold” and a consensus target price of $69.21.

StepStone Group Stock Performance

Shares of NASDAQ STEP opened at $55.61 on Thursday. The firm’s 50 day moving average price is $58.37 and its 200 day moving average price is $60.08. The firm has a market cap of $6.45 billion, a P/E ratio of -32.91 and a beta of 1.33. StepStone Group LP has a 1 year low of $33.92 and a 1 year high of $70.38.

StepStone Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were paid a $0.24 dividend. The ex-dividend date was Friday, February 28th. This represents a $0.96 annualized dividend and a yield of 1.73%. StepStone Group’s payout ratio is currently -56.80%.

StepStone Group 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.