StepStone Group LP (NASDAQ:STEP) CFO Sells $204,630.00 in Stock

StepStone Group LP (NASDAQ:STEP) CFO David Y. Park sold 3,000 shares of StepStone Group stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $68.21, for a total transaction of $204,630.00. Following the completion of the transaction, the chief financial officer now owns 20,251 shares of the company’s stock, valued at $1,381,320.71. This represents a 12.90 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

StepStone Group Trading Down 0.6 %

NASDAQ:STEP opened at $65.00 on Friday. StepStone Group LP has a 12-month low of $25.06 and a 12-month high of $70.38. The stock’s 50 day simple moving average is $59.47 and its 200-day simple moving average is $50.49. The firm has a market cap of $7.19 billion, a P/E ratio of 108.33 and a beta of 1.27.

StepStone Group Dividend Announcement

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 paid a $0.24 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.96 annualized dividend and a yield of 1.48%. StepStone Group’s dividend payout ratio is currently 160.00%.

Institutional Trading of StepStone Group

Hedge funds have recently made changes to their positions in the company. Amalgamated Bank raised its holdings in StepStone Group by 749.8% during the second quarter. Amalgamated Bank now owns 16,001 shares of the company’s stock worth $734,000 after purchasing an additional 14,118 shares in the last quarter. Principal Financial Group Inc. increased its position in StepStone Group by 991.1% during the 2nd quarter. Principal Financial Group Inc. now owns 291,530 shares of the company’s stock worth $13,378,000 after purchasing an additional 264,811 shares during the period. Public Sector Pension Investment Board purchased a new position in shares of StepStone Group during the 2nd quarter worth approximately $5,254,000. Bank of New York Mellon Corp raised its stake in shares of 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 worth $51,185,000 after buying an additional 225,201 shares in the last quarter. Finally, SG Americas Securities LLC lifted its holdings in shares of StepStone Group by 399.3% in the 3rd quarter. SG Americas Securities LLC now owns 12,024 shares of the company’s stock valued at $683,000 after buying an additional 9,616 shares during the period. Institutional investors and hedge funds own 55.54% of the company’s stock.

Analysts Set New Price Targets

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

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.