Bank of New York Mellon Corp Sells 147,222 Shares of StepStone Group LP (NASDAQ:STEP)

Bank of New York Mellon Corp reduced its position in shares of StepStone Group LP (NASDAQ:STEP - Free Report) by 14.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 907,413 shares of the company's stock after selling 147,222 shares during the quarter. Bank of New York Mellon Corp owned 0.79% of StepStone Group worth $52,521,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. Blue Trust Inc. raised its stake in StepStone Group by 25.5% during the 4th quarter. Blue Trust Inc. now owns 1,079 shares of the company's stock valued at $61,000 after purchasing an additional 219 shares during the period. GAMMA Investing LLC raised its stake in StepStone Group by 36.6% during the 4th quarter. GAMMA Investing LLC now owns 844 shares of the company's stock valued at $49,000 after purchasing an additional 226 shares during the period. Louisiana State Employees Retirement System raised its stake in StepStone Group by 1.0% during the 4th quarter. Louisiana State Employees Retirement System now owns 30,600 shares of the company's stock valued at $1,771,000 after purchasing an additional 300 shares during the period. KBC Group NV grew its holdings in shares of StepStone Group by 35.7% during the 3rd quarter. KBC Group NV now owns 1,840 shares of the company's stock valued at $105,000 after acquiring an additional 484 shares in the last quarter. Finally, Raleigh Capital Management Inc. purchased a new position in shares of StepStone Group during the 4th quarter valued at $29,000. 55.54% of the stock is owned by institutional investors and hedge funds.

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Insider Buying and Selling

In other StepStone Group news, CAO Anthony Keathley sold 538 shares of the company's stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $63.00, for a total transaction of $33,894.00. Following the sale, the chief accounting officer now directly owns 1,386 shares of the company's stock, valued at approximately $87,318. This represents a 27.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Scott W. Hart sold 10,000 shares of the company's stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $61.43, for a total transaction of $614,300.00. Following the sale, the chief executive officer now directly owns 110,000 shares in the company, valued at $6,757,300. This represents a 8.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 18.44% of the stock is currently owned by corporate insiders.

StepStone Group Price Performance

NASDAQ:STEP traded down $1.53 during trading hours on Friday, reaching $52.26. The company's stock had a trading volume of 841,787 shares, compared to its average volume of 590,220. The company has a market cap of $6.06 billion, a price-to-earnings ratio of -30.92 and a beta of 1.33. StepStone Group LP has a one year low of $32.58 and a one year high of $70.38. The business's 50-day moving average is $60.64 and its 200-day moving average is $60.02.

StepStone Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date of this dividend is Friday, February 28th. StepStone Group's dividend payout ratio is presently -56.80%.

Wall Street Analyst Weigh In

Several research firms have recently commented on STEP. The Goldman Sachs Group boosted their price target on shares of StepStone Group from $64.00 to $70.50 and gave the company a "neutral" rating in a report on Tuesday, November 19th. 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. Morgan Stanley boosted their price target on shares of StepStone Group from $60.00 to $65.00 and gave the company an "equal weight" rating in a report on Thursday, November 14th. Barclays boosted their price target on shares of StepStone Group from $66.00 to $69.00 and gave the company an "equal weight" rating in a report on Friday, February 7th. Finally, Evercore ISI boosted their price target on shares of StepStone Group from $63.00 to $69.00 and gave the company 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 assigned a buy rating to the company's stock. According to MarketBeat, StepStone Group has a consensus rating of "Hold" and an average target price 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.