Alliancebernstein L.P. Has $102.47 Million Position in StepStone Group LP (NASDAQ:STEP)

Alliancebernstein L.P. trimmed its holdings in shares of StepStone Group LP (NASDAQ:STEP - Free Report) by 9.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,770,323 shares of the company's stock after selling 182,334 shares during the quarter. Alliancebernstein L.P. owned 1.54% of StepStone Group worth $102,466,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Barclays PLC raised its stake in shares of StepStone Group by 368.2% in the 3rd quarter. Barclays PLC now owns 112,019 shares of the company's stock valued at $6,366,000 after purchasing an additional 88,095 shares in the last quarter. Oppenheimer & Co. Inc. bought a new position in StepStone Group during the fourth quarter worth $388,000. Cibc World Markets Corp bought a new position in shares of StepStone Group in the 4th quarter worth about $355,000. Proficio Capital Partners LLC acquired a new position in shares of StepStone Group in the 4th quarter valued at about $941,000. Finally, Principal Financial Group Inc. lifted its holdings in StepStone Group by 4.9% in the fourth quarter. Principal Financial Group Inc. now owns 438,130 shares of the company's stock worth $25,359,000 after acquiring an additional 20,285 shares during the last quarter. Hedge funds and other institutional investors own 55.54% of the company's stock.

Insiders Place Their Bets

In other news, CEO Scott W. Hart sold 10,000 shares of the firm's stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $61.43, for a total transaction of $614,300.00. Following the transaction, the chief executive officer now owns 110,000 shares in the company, valued at approximately $6,757,300. This trade represents a 8.33 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Anthony Keathley sold 538 shares of the business'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 value of $33,894.00. Following the completion of the sale, the chief accounting officer now owns 1,386 shares of the company's stock, valued at approximately $87,318. This trade represents a 27.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 18.44% of the company's stock.

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Analysts Set New Price Targets

Several brokerages have recently issued reports on STEP. Oppenheimer boosted their price target on shares of StepStone Group from $81.00 to $85.00 and gave the company an "outperform" rating in a report on Friday, February 7th. Barclays lowered their target price on StepStone Group from $69.00 to $48.00 and set an "equal weight" rating on the stock in a research report on Monday. Finally, Evercore ISI raised their target price on shares of StepStone Group from $63.00 to $69.00 and gave the stock an "outperform" rating in a report on Monday, February 10th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $66.21.

StepStone Group Price Performance

STEP traded down $1.94 on Monday, reaching $41.97. 1,281,945 shares of the company traded hands, compared to its average volume of 642,380. StepStone Group LP has a 52-week low of $34.64 and a 52-week high of $70.38. The company has a market cap of $4.87 billion, a price-to-earnings ratio of -24.95 and a beta of 1.36. The stock's 50 day moving average price is $57.63 and its 200-day moving average price is $60.00.

StepStone Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were paid a $0.24 dividend. The ex-dividend date was Friday, February 28th. This represents a $0.96 dividend on an annualized basis and a yield of 2.29%. StepStone Group's dividend payout ratio (DPR) is currently -56.80%.

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.