StepStone Group LP (NASDAQ:STEP) CEO Sells $1,397,034.84 in Stock

StepStone Group LP (NASDAQ:STEP) CEO Scott W. Hart sold 22,091 shares of StepStone Group stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $63.24, for a total transaction of $1,397,034.84. Following the completion of the transaction, the chief executive officer now directly owns 157,909 shares of the company’s stock, valued at $9,986,165.16. The trade was a 12.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

StepStone Group Trading Down 1.1 %

NASDAQ:STEP opened at $62.24 on Friday. The company has a market cap of $7.17 billion, a price-to-earnings ratio of 103.73 and a beta of 1.27. StepStone Group LP has a twelve month low of $25.26 and a twelve month high of $70.38. The stock has a fifty day simple moving average of $62.47 and a 200-day simple moving average of $53.19.

StepStone Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be given a $0.24 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.96 annualized dividend and a yield of 1.54%. StepStone Group’s dividend payout ratio (DPR) is 160.00%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. The Goldman Sachs Group lifted their price target on StepStone Group from $64.00 to $70.50 and gave the stock a “neutral” rating in a research report on Tuesday, November 19th. Oppenheimer lifted their target price on StepStone Group from $56.00 to $73.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Morgan Stanley increased their price target on StepStone Group from $60.00 to $65.00 and gave the company an “equal weight” rating in a report on Thursday, November 14th. JPMorgan Chase & Co. lifted their price objective on shares of StepStone Group from $56.00 to $61.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 1st. Finally, Evercore ISI boosted their price objective on shares of StepStone Group from $52.00 to $55.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Four 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, StepStone Group has an average rating of “Hold” and a consensus price target of $64.36.

Hedge Funds Weigh In On StepStone Group

Institutional investors have recently modified their holdings of the stock. SG Americas Securities LLC bought a new position in StepStone Group in the second quarter worth approximately $111,000. Louisiana State Employees Retirement System purchased a new position in shares of StepStone Group during the second quarter valued at $1,202,000. Bank of New York Mellon Corp raised its holdings in shares of StepStone Group by 25.3% in the second quarter. Bank of New York Mellon Corp now owns 1,115,384 shares of the company’s stock valued at $51,185,000 after acquiring an additional 225,201 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of StepStone Group by 991.1% in the second quarter. Principal Financial Group Inc. now owns 291,530 shares of the company’s stock valued at $13,378,000 after acquiring an additional 264,811 shares in the last quarter. Finally, Maryland State Retirement & Pension System purchased a new stake in StepStone Group in the second quarter worth about $832,000. 55.54% of the stock is owned by hedge funds and other institutional investors.

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.