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 the business’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $68.21, for a total transaction of $204,630.00. Following the completion of the sale, the chief financial officer now directly owns 20,251 shares in the company, valued at $1,381,320.71. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

StepStone Group Stock Down 5.7 %

Shares of STEP traded down $3.91 during midday trading on Wednesday, hitting $64.12. The company’s stock had a trading volume of 730,742 shares, compared to its average volume of 575,807. StepStone Group LP has a one year low of $25.06 and a one year high of $70.38. The company’s fifty day simple moving average is $58.78 and its two-hundred day simple moving average is $50.09. The stock has a market capitalization of $7.09 billion, a price-to-earnings ratio of 110.19 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. Investors of record on Friday, November 29th will be given a dividend of $0.24 per share. The ex-dividend date is Friday, November 29th. This represents a $0.96 dividend on an annualized basis and a yield of 1.50%. StepStone Group’s dividend payout ratio is currently 160.00%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on STEP. UBS Group increased their price objective on StepStone Group from $55.00 to $65.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. The Goldman Sachs Group raised their price target on StepStone Group from $51.50 to $57.00 and gave the company a “neutral” rating in a research note on Monday, September 30th. Evercore ISI raised their price target on StepStone Group from $52.00 to $55.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Barclays raised their price target on StepStone Group from $51.00 to $61.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. Finally, Morgan Stanley raised their price target on StepStone Group from $52.00 to $60.00 and gave the company an “equal weight” rating in a research note on Thursday, October 10th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, StepStone Group presently has an average rating of “Hold” and an average target price of $61.71.

Institutional Investors Weigh In On StepStone Group

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. FMR LLC grew its position in StepStone Group by 3.7% during the 3rd quarter. FMR LLC now owns 3,999,819 shares of the company’s stock worth $227,310,000 after acquiring an additional 141,637 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in StepStone Group by 3.6% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 33,223 shares of the company’s stock worth $1,888,000 after acquiring an additional 1,155 shares during the last quarter. Harvest Fund Management Co. Ltd bought a new stake in StepStone Group during the 3rd quarter worth $63,000. Citigroup Inc. grew its position in StepStone Group by 129.7% during the 3rd quarter. Citigroup Inc. now owns 81,414 shares of the company’s stock worth $4,627,000 after acquiring an additional 45,974 shares during the last quarter. Finally, Eagle Asset Management Inc. lifted its holdings in StepStone Group by 13.4% during the 3rd quarter. Eagle Asset Management Inc. now owns 397,272 shares of the company’s stock worth $22,577,000 after buying an additional 46,912 shares during the period. 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.