Keystone Investors PTE Ltd. trimmed its stake in shares of StepStone Group LP (NASDAQ:STEP - Free Report) by 62.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 214,478 shares of the company's stock after selling 351,323 shares during the period. StepStone Group accounts for 0.9% of Keystone Investors PTE Ltd.'s holdings, making the stock its 24th biggest position. Keystone Investors PTE Ltd. owned about 0.19% of StepStone Group worth $12,414,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also modified their holdings of STEP. Steward Partners Investment Advisory LLC purchased a new stake in StepStone Group in the 4th quarter valued at about $27,000. Raleigh Capital Management Inc. purchased a new stake in StepStone Group in the fourth quarter valued at approximately $29,000. IFP Advisors Inc purchased a new position in shares of StepStone Group during the fourth quarter worth $36,000. Amundi grew its stake in shares of StepStone Group by 26.7% in the fourth quarter. Amundi now owns 730 shares of the company's stock valued at $42,000 after buying an additional 154 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of StepStone Group by 36.6% in the 4th quarter. GAMMA Investing LLC now owns 844 shares of the company's stock valued at $49,000 after buying an additional 226 shares during the period. Institutional investors and hedge funds own 55.54% of the company's stock.
Insider Transactions at StepStone Group
In related news, CEO Scott W. Hart sold 10,000 shares of the company's stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 110,000 shares of the company's stock, valued at $6,757,300. This represents a 8.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Anthony Keathley sold 538 shares of the stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $63.00, for a total transaction of $33,894.00. Following the completion of the transaction, the chief accounting officer now owns 1,386 shares in the company, valued at $87,318. This 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.
Analysts Set New Price Targets
STEP has been the subject of a number of research analyst reports. Oppenheimer lifted their target price on StepStone Group from $81.00 to $85.00 and gave the company an "outperform" rating in a research report on Friday, February 7th. Barclays raised their price objective on shares of StepStone Group from $66.00 to $69.00 and gave the company an "equal weight" rating in a research note on Friday, February 7th. Finally, Evercore ISI upped 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. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $69.21.
View Our Latest Analysis on STEP
StepStone Group Price Performance
Shares of STEP traded down $2.16 during midday trading on Friday, reaching $51.80. The stock had a trading volume of 450,503 shares, compared to its average volume of 633,193. The company has a market cap of $6.01 billion, a price-to-earnings ratio of -30.65 and a beta of 1.33. The company's fifty day simple moving average is $58.91 and its two-hundred day simple moving average is $60.04. StepStone Group LP has a 1-year low of $33.92 and a 1-year high of $70.38.
StepStone Group Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date was Friday, February 28th. StepStone Group's dividend payout ratio (DPR) is -56.80%.
StepStone Group Profile
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Free Report)
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.
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