StepStone Group LP (NASDAQ:STEP) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP lowered its holdings in StepStone Group LP (NASDAQ:STEP) by 36.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,485,680 shares of the company’s stock after selling 2,013,672 shares during the period. Wellington Management Group LLP’s holdings in StepStone Group were worth $201,751,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Steward Partners Investment Advisory LLC acquired a new stake in StepStone Group in the 4th quarter valued at $27,000. Raleigh Capital Management Inc. acquired a new stake in shares of StepStone Group in the fourth quarter valued at about $29,000. IFP Advisors Inc acquired a new stake in shares of StepStone Group in the fourth quarter valued at about $36,000. Amundi raised its holdings in shares of 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 during the period. Finally, GAMMA Investing LLC lifted its position in StepStone Group by 36.6% during the 4th quarter. GAMMA Investing LLC now owns 844 shares of the company’s stock worth $49,000 after acquiring an additional 226 shares in the last quarter. Hedge funds and other institutional investors own 55.54% of the company’s stock.

StepStone Group Price Performance

STEP opened at $55.61 on Thursday. StepStone Group LP has a 12-month low of $33.92 and a 12-month high of $70.38. The stock has a market capitalization of $6.45 billion, a PE ratio of -32.91 and a beta of 1.33. The firm’s fifty day moving average price is $58.37 and its 200 day moving average price is $60.08.

StepStone Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were paid a $0.24 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.73%. StepStone Group’s dividend payout ratio (DPR) is presently -56.80%.

Insider Transactions at StepStone Group

In other StepStone Group news, CAO Anthony Keathley sold 538 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $63.00, for a total transaction of $33,894.00. Following the sale, the chief accounting officer now owns 1,386 shares in the company, valued at $87,318. This represents a 27.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Scott W. Hart sold 10,000 shares of StepStone Group stock in a transaction that occurred 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 transaction, the chief executive officer now owns 110,000 shares of the company’s stock, valued at approximately $6,757,300. The trade was a 8.33 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 18.44% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on STEP. Oppenheimer lifted their price objective on shares of StepStone Group from $81.00 to $85.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Barclays lifted their price target on shares of StepStone Group from $66.00 to $69.00 and gave the stock an “equal weight” rating in a research note on Friday, February 7th. Finally, Evercore ISI upped their price objective on shares of StepStone Group from $63.00 to $69.00 and gave the company an “outperform” rating in a research report on Monday, February 10th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, StepStone Group presently has a consensus rating of “Hold” and a consensus price target of $69.21.

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.