JPMorgan Chase & Co. Sells 683,089 Shares of StepStone Group LP (NASDAQ:STEP)

JPMorgan Chase & Co. trimmed its holdings in shares of StepStone Group LP (NASDAQ:STEP - Free Report) by 29.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,634,382 shares of the company's stock after selling 683,089 shares during the quarter. JPMorgan Chase & Co. owned 1.42% of StepStone Group worth $92,882,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of STEP. GAMMA Investing LLC increased its position in shares of StepStone Group by 291.1% during the third quarter. GAMMA Investing LLC now owns 618 shares of the company's stock worth $35,000 after acquiring an additional 460 shares during the period. Blue Trust Inc. grew its position in shares of StepStone Group by 1,586.3% in the 3rd quarter. Blue Trust Inc. now owns 860 shares of the company's stock valued at $49,000 after buying an additional 809 shares during the last quarter. US Bancorp DE grew its holdings in shares of StepStone Group by 442.7% during the third quarter. US Bancorp DE now owns 966 shares of the company's stock worth $55,000 after purchasing an additional 788 shares during the last quarter. Harvest Fund Management Co. Ltd acquired a new position in StepStone Group during the third quarter worth approximately $63,000. Finally, CWM LLC raised its position in StepStone Group by 190.4% in the 3rd quarter. CWM LLC now owns 1,185 shares of the company's stock valued at $67,000 after purchasing an additional 777 shares during the last quarter. Institutional investors and hedge funds own 55.54% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on STEP. 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 report on Monday, October 14th. The Goldman Sachs Group upped their target price on shares of StepStone Group from $64.00 to $70.50 and gave the stock a "neutral" rating in a research report on Tuesday, November 19th. Oppenheimer upped their target price on StepStone Group from $73.00 to $84.00 and gave the company an "outperform" rating in a report on Thursday, December 12th. Barclays dropped their price objective on shares of StepStone Group from $72.00 to $66.00 and set an "equal weight" rating for the company in a research note on Monday, December 9th. Finally, JPMorgan Chase & Co. boosted their target price on shares of StepStone Group from $56.00 to $61.00 and gave the company an "overweight" rating in a research note on Tuesday, October 1st. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, StepStone Group has an average rating of "Hold" and an average price target of $66.64.

Insider Buying and Selling

In related news, CFO David Y. Park sold 3,000 shares of the stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $68.21, for a total value of $204,630.00. Following the transaction, the chief financial officer now owns 20,251 shares in the company, valued at approximately $1,381,320.71. This represents a 12.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Anthony Keathley sold 729 shares of the stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $68.85, for a total transaction of $50,191.65. Following the transaction, the chief accounting officer now owns 2,158 shares in the company, valued at approximately $148,578.30. This trade represents a 25.25 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 29,820 shares of company stock valued at $1,908,856. Corporate insiders own 18.44% of the company's stock.

StepStone Group Price Performance

STEP stock traded up $1.65 on Friday, reaching $60.34. The company's stock had a trading volume of 433,277 shares, compared to its average volume of 446,039. The company has a market capitalization of $6.95 billion, a P/E ratio of 100.57 and a beta of 1.27. StepStone Group LP has a 52 week low of $30.46 and a 52 week high of $70.38. The firm has a fifty day moving average of $62.54 and a two-hundred day moving average of $55.65.

StepStone Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 1.59%. The ex-dividend date of this dividend was Friday, November 29th. StepStone Group's payout ratio is 160.00%.

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.