Holocene Advisors LP Sells 56,221 Shares of StepStone Group LP (NASDAQ:STEP)

Holocene Advisors LP reduced its position in StepStone Group LP (NASDAQ:STEP - Free Report) by 21.8% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 201,972 shares of the company's stock after selling 56,221 shares during the period. Holocene Advisors LP owned about 0.18% of StepStone Group worth $11,478,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of STEP. FMR LLC increased its stake in StepStone Group by 3.7% in the third quarter. FMR LLC now owns 3,999,819 shares of the company's stock valued at $227,310,000 after acquiring an additional 141,637 shares during the last quarter. Bank of New York Mellon Corp boosted its position in StepStone Group by 25.3% in the second quarter. Bank of New York Mellon Corp now owns 1,115,384 shares of the company's stock valued at $51,185,000 after buying an additional 225,201 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in StepStone Group by 8.1% in the second quarter. Dimensional Fund Advisors LP now owns 800,909 shares of the company's stock valued at $36,753,000 after buying an additional 60,339 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in StepStone Group by 16.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 596,851 shares of the company's stock valued at $33,919,000 after buying an additional 84,762 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its position in StepStone Group by 43.3% in the third quarter. Principal Financial Group Inc. now owns 417,845 shares of the company's stock valued at $23,746,000 after buying an additional 126,315 shares in the last quarter. 55.54% of the stock is currently owned by institutional investors and hedge funds.

StepStone Group Price Performance

Shares of NASDAQ:STEP traded up $0.11 during midday trading on Wednesday, hitting $62.96. 695,291 shares of the company's stock were exchanged, compared to its average volume of 570,888. The stock has a 50 day moving average price of $62.36 and a 200-day moving average price of $53.13. The company has a market cap of $7.25 billion, a PE ratio of 104.94 and a beta of 1.27. StepStone Group LP has a 12 month low of $25.06 and a 12 month high of $70.38.

StepStone Group Dividend Announcement

The company 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 dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 1.52%. The ex-dividend date is Friday, November 29th. StepStone Group's dividend payout ratio (DPR) is presently 160.00%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. JPMorgan Chase & Co. lifted their price target on shares of StepStone Group from $56.00 to $61.00 and gave the stock an "overweight" rating in a report on Tuesday, October 1st. Oppenheimer boosted their target price on shares of StepStone Group from $56.00 to $73.00 and gave the company an "outperform" rating in a report on Wednesday, October 16th. Morgan Stanley boosted their target price 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 target price on shares of StepStone Group from $51.00 to $61.00 and gave the company an "equal weight" rating in a report on Monday, October 7th. Finally, Evercore ISI boosted their target price on shares of StepStone Group from $52.00 to $55.00 and gave the company an "outperform" rating in a report on Monday, October 14th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $64.36.

Insider Buying and Selling

In related news, insider Michael I. Mccabe sold 4,000 shares of the company's stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $64.25, for a total transaction of $257,000.00. Following the sale, the insider now directly owns 686,516 shares in the company, valued at approximately $44,108,653. This represents a 0.58 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Anthony Keathley sold 729 shares of the company's stock in a transaction that occurred 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 sale, the chief accounting officer now owns 2,158 shares in the company, valued at $148,578.30. The trade was a 25.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 29,820 shares of company stock worth $1,908,856. 18.44% of the stock is owned by insiders.

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.