Anthony Keathley Sells 729 Shares of StepStone Group LP (NASDAQ:STEP) Stock

StepStone Group LP (NASDAQ:STEP) CAO Anthony Keathley sold 729 shares of the stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $68.85, for a total transaction of $50,191.65. Following the completion of the transaction, the chief accounting officer now owns 2,158 shares of the company’s stock, valued at approximately $148,578.30. This represents a 25.25 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

StepStone Group Stock Performance

Shares of STEP opened at $65.36 on Friday. The company has a market cap of $7.23 billion, a price-to-earnings ratio of 108.94 and a beta of 1.27. The stock has a fifty day moving average price of $59.21 and a two-hundred day moving average price of $50.29. StepStone Group LP has a 52-week low of $25.06 and a 52-week high of $70.38.

StepStone Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be issued a $0.24 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.47%. StepStone Group’s dividend payout ratio is 160.00%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Amalgamated Bank lifted its stake in shares of StepStone Group by 749.8% during the second quarter. Amalgamated Bank now owns 16,001 shares of the company’s stock valued at $734,000 after acquiring an additional 14,118 shares during the period. Principal Financial Group Inc. lifted its position in StepStone Group by 991.1% during the 2nd 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. Public Sector Pension Investment Board bought a new position in shares of StepStone Group in the 2nd quarter valued at about $5,254,000. Bank of New York Mellon Corp grew its position in shares of 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 worth $51,185,000 after buying an additional 225,201 shares during the period. Finally, SG Americas Securities LLC raised its stake in shares of StepStone Group by 399.3% during the third quarter. SG Americas Securities LLC now owns 12,024 shares of the company’s stock worth $683,000 after buying an additional 9,616 shares during the last quarter. Institutional investors and hedge funds own 55.54% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on STEP. The Goldman Sachs Group increased their price target on shares of StepStone Group from $51.50 to $57.00 and gave the stock a “neutral” rating in a research report on Monday, September 30th. JPMorgan Chase & Co. raised their target price on StepStone Group from $56.00 to $61.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 1st. UBS Group boosted their price target on StepStone Group from $55.00 to $65.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. Evercore ISI increased their price objective on StepStone Group from $52.00 to $55.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Finally, Barclays boosted their target price on shares of StepStone Group from $51.00 to $61.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price 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.