StepStone Group LP (NASDAQ:STEP) Holdings Cut by Fmr LLC

FMR LLC lowered its stake in StepStone Group LP (NASDAQ:STEP - Free Report) by 1.5% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,941,767 shares of the company's stock after selling 58,052 shares during the quarter. FMR LLC owned approximately 3.42% of StepStone Group worth $228,149,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of STEP. Vanguard Group Inc. lifted its position in shares of StepStone Group by 6.3% in the fourth quarter. Vanguard Group Inc. now owns 6,938,181 shares of the company's stock valued at $401,582,000 after acquiring an additional 411,133 shares in the last quarter. State Street Corp raised its stake in StepStone Group by 12.4% in the 3rd quarter. State Street Corp now owns 2,401,034 shares of the company's stock valued at $136,451,000 after purchasing an additional 265,240 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of StepStone Group by 4.7% during the 4th quarter. JPMorgan Chase & Co. now owns 1,711,872 shares of the company's stock worth $99,083,000 after purchasing an additional 77,490 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of StepStone Group by 3.5% during the fourth quarter. Geode Capital Management LLC now owns 1,508,666 shares of the company's stock worth $87,341,000 after buying an additional 50,976 shares in the last quarter. Finally, CIBC Private Wealth Group LLC grew its holdings in shares of StepStone Group by 26.8% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,409,089 shares of the company's stock worth $85,518,000 after buying an additional 297,989 shares in the last quarter. Institutional investors and hedge funds own 55.54% of the company's stock.

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Analyst Ratings Changes

Several analysts have commented on the stock. Evercore ISI lifted their target price on shares of StepStone Group from $63.00 to $69.00 and gave the stock an "outperform" rating in a research note on Monday, February 10th. Morgan Stanley dropped their target price on StepStone Group from $66.00 to $51.00 and set an "equal weight" rating for the company in a research note on Monday. Oppenheimer raised their price target 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, Barclays dropped their price objective on shares of StepStone Group from $69.00 to $48.00 and set an "equal weight" rating for the company in a research note on Monday, April 7th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $64.21.

Insider Buying and Selling

In related news, CEO Scott W. Hart sold 10,000 shares of the business's stock in a transaction dated 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 directly owns 110,000 shares of the company's stock, valued at $6,757,300. The trade was a 8.33 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Anthony Keathley sold 538 shares of the 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 transaction, the chief accounting officer now directly owns 1,386 shares in the company, valued at approximately $87,318. This represents a 27.96 % decrease in their position. The disclosure for this sale can be found here. Insiders own 18.44% of the company's stock.

StepStone Group Price Performance

STEP traded up $0.63 on Tuesday, reaching $47.81. The company's stock had a trading volume of 335,480 shares, compared to its average volume of 657,126. StepStone Group LP has a 1 year low of $34.64 and a 1 year high of $70.38. The business's 50 day moving average is $54.73 and its 200 day moving average is $59.36. The stock has a market cap of $5.54 billion, a price-to-earnings ratio of -28.29 and a beta of 1.36.

StepStone Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date was Friday, February 28th. StepStone Group's payout ratio is currently -56.80%.

StepStone Group 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.