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 firm’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $61.43, for a total value of $614,300.00. Following the completion of the transaction, the chief executive officer now directly owns 110,000 shares in the company, valued at $6,757,300. This trade represents a 8.33 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

StepStone Group Trading Down 3.5 %

Shares of STEP opened at $58.59 on Friday. The business’s 50 day moving average is $61.22 and its 200 day moving average is $59.57. The company has a market capitalization of $6.80 billion, a PE ratio of -34.67 and a beta of 1.31. StepStone Group LP has a 12-month low of $32.58 and a 12-month high of $70.38.

StepStone Group Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research firms have recently commented on STEP. Barclays raised their price objective 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. Morgan Stanley raised their price objective 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 raised their price objective on StepStone Group from $81.00 to $85.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. The Goldman Sachs Group raised their price objective on StepStone Group from $64.00 to $70.50 and gave the stock a “neutral” rating in a research note on Tuesday, November 19th. Finally, Evercore ISI raised their price objective on StepStone Group from $63.00 to $69.00 and gave the stock an “outperform” rating in a research note on Monday, February 10th. Four investment analysts have rated the stock with a hold rating and three have issued 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 price target of $69.21.

Institutional Trading of StepStone Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Steward Partners Investment Advisory LLC bought a new stake in StepStone Group during the 4th quarter valued at approximately $27,000. Raleigh Capital Management Inc. purchased a new position in StepStone Group during the 4th quarter valued at approximately $29,000. IFP Advisors Inc purchased a new position in StepStone Group during the 4th quarter valued at approximately $36,000. Amundi grew its holdings in StepStone Group by 26.7% during the 4th 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. Finally, GAMMA Investing LLC grew its holdings in StepStone Group by 36.6% during the 4th quarter. GAMMA Investing LLC now owns 844 shares of the company’s stock valued at $49,000 after buying an additional 226 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.