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 stock in a transaction on 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 sale, the chief executive officer now owns 110,000 shares in the company, valued at approximately $6,757,300. The trade was a 8.33 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

StepStone Group Trading Down 3.5 %

Shares of STEP traded down $2.14 during midday trading on Friday, reaching $58.59. 391,914 shares of the stock were exchanged, compared to its average volume of 474,118. StepStone Group LP has a 52 week low of $32.58 and a 52 week high of $70.38. The company’s 50 day moving average is $61.22 and its two-hundred day moving average is $59.47. The company has a market capitalization of $6.80 billion, a P/E ratio of -34.67 and a beta of 1.31.

StepStone Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date of this dividend is Friday, February 28th. StepStone Group’s payout ratio is currently -56.80%.

Institutional Investors Weigh In On StepStone Group

Institutional investors have recently added to or reduced their stakes in the stock. Steward Partners Investment Advisory LLC bought a new stake in StepStone Group during the fourth quarter valued at about $27,000. Raleigh Capital Management Inc. bought a new stake in StepStone Group during the fourth quarter valued at about $29,000. IFP Advisors Inc bought a new stake in StepStone Group during the fourth quarter valued at about $36,000. Amundi boosted its position in StepStone Group by 26.7% during the fourth quarter. Amundi now owns 730 shares of the company’s stock valued at $42,000 after purchasing an additional 154 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position in StepStone Group by 36.6% during the fourth quarter. GAMMA Investing LLC now owns 844 shares of the company’s stock valued at $49,000 after purchasing an additional 226 shares in the last quarter. Institutional investors own 55.54% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on STEP. Barclays increased their target price 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. Evercore ISI increased their target price on StepStone Group from $63.00 to $69.00 and gave the stock an “outperform” rating in a research note on Monday, February 10th. The Goldman Sachs Group increased their target price on StepStone Group from $64.00 to $70.50 and gave the stock a “neutral” rating in a research note on Tuesday, November 19th. Oppenheimer increased their target price on StepStone Group from $81.00 to $85.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. Finally, Morgan Stanley increased their target price 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. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $69.21.

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.