StepStone Group LP (NASDAQ:STEP) CEO Sells $614,300.00 in Stock

StepStone Group LP (NASDAQ:STEP - Get Free Report) CEO Scott W. Hart sold 10,000 shares of the stock in a transaction on 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 of the company's stock, valued at $6,757,300. This represents a 8.33 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

StepStone Group Stock Performance

Shares of STEP stock traded down $0.23 during midday trading on Tuesday, hitting $57.83. 696,848 shares of the company were exchanged, compared to its average volume of 478,907. StepStone Group LP has a 52 week low of $32.58 and a 52 week high of $70.38. The firm has a market capitalization of $6.71 billion, a P/E ratio of -34.22 and a beta of 1.31. The firm's 50 day moving average price is $61.11 and its two-hundred day moving average price is $59.75.

StepStone Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.66%. The ex-dividend date is Friday, February 28th. StepStone Group's dividend payout ratio is presently -56.80%.

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Hedge Funds Weigh In On StepStone Group

Institutional investors and hedge funds have recently made changes to their positions in the company. Barclays PLC boosted its stake in StepStone Group by 368.2% in the 3rd quarter. Barclays PLC now owns 112,019 shares of the company's stock valued at $6,366,000 after purchasing an additional 88,095 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of StepStone Group by 43.3% during the third quarter. Principal Financial Group Inc. now owns 417,845 shares of the company's stock worth $23,746,000 after buying an additional 126,315 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of StepStone Group by 17.4% in the third quarter. Geode Capital Management LLC now owns 1,457,690 shares of the company's stock valued at $82,856,000 after acquiring an additional 216,029 shares during the period. Stifel Financial Corp grew its stake in shares of StepStone Group by 28.7% in the third quarter. Stifel Financial Corp now owns 41,916 shares of the company's stock valued at $2,382,000 after acquiring an additional 9,357 shares in the last quarter. Finally, FORA Capital LLC bought a new position in StepStone Group during the third quarter worth about $717,000. Institutional investors and hedge funds own 55.54% of the company's stock.

Wall Street Analyst Weigh In

STEP has been the topic of a number of research reports. Barclays boosted their price target on StepStone Group from $66.00 to $69.00 and gave the company an "equal weight" rating in a report on Friday, February 7th. Oppenheimer boosted their target price on StepStone Group from $81.00 to $85.00 and gave the company an "outperform" rating in a research note on Friday, February 7th. Morgan Stanley raised their price target on shares of StepStone Group from $60.00 to $65.00 and gave the stock an "equal weight" rating in a research note on Thursday, November 14th. Evercore ISI boosted their price objective on shares of StepStone Group from $63.00 to $69.00 and gave the stock an "outperform" rating in a research report on Monday, February 10th. Finally, The Goldman Sachs Group raised their target price on shares of StepStone Group from $64.00 to $70.50 and gave the company a "neutral" rating in a research report on Tuesday, November 19th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $69.21.

StepStone Group Company 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.