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 stock in a transaction dated 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 transaction, the chief financial officer now directly owns 20,251 shares of the company’s stock, valued at approximately $1,381,320.71. This trade represents a 12.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

StepStone Group Stock Down 0.6 %

STEP opened at $65.00 on Friday. StepStone Group LP has a 52-week low of $25.06 and a 52-week high of $70.38. The company has a 50 day moving average of $59.47 and a two-hundred day moving average of $50.49. The company 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 business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 1.48%. The ex-dividend date of this dividend is Friday, November 29th. StepStone Group’s payout ratio is 160.00%.

Institutional Investors Weigh In On StepStone Group

A number of large investors have recently modified their holdings of STEP. Price T Rowe Associates Inc. MD boosted its holdings in StepStone Group by 150.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 850,463 shares of the company’s stock worth $30,396,000 after acquiring an additional 510,283 shares during the period. State Street Corp lifted its position in shares of StepStone Group by 12.4% during the third quarter. State Street Corp now owns 2,401,034 shares of the company’s stock worth $136,451,000 after purchasing an additional 265,240 shares in the last quarter. Principal Financial Group Inc. boosted its stake 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 purchasing an additional 264,811 shares during the period. Bank of New York Mellon Corp grew its holdings in 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 valued at $51,185,000 after purchasing an additional 225,201 shares in the last quarter. Finally, FMR LLC increased its stake 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 buying an additional 141,637 shares during the period. Institutional investors and hedge funds own 55.54% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Evercore ISI increased their price target 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. UBS Group lifted their price objective on StepStone Group from $55.00 to $65.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. Morgan Stanley raised their price target on shares of StepStone Group from $60.00 to $65.00 and gave the stock an “equal weight” rating in a research note on Thursday. Oppenheimer boosted their price objective on shares of StepStone Group from $56.00 to $73.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Finally, Barclays raised their target price on shares of StepStone Group from $51.00 to $61.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, StepStone Group has an average rating of “Hold” and an average price target 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.