Jane Street Group LLC Lowers Stock Holdings in StepStone Group LP (NASDAQ:STEP)

Jane Street Group LLC reduced its position in shares of StepStone Group LP (NASDAQ:STEP - Free Report) by 61.3% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 34,959 shares of the company's stock after selling 55,462 shares during the quarter. Jane Street Group LLC's holdings in StepStone Group were worth $1,987,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings 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 purchasing an additional 460 shares in the last quarter. KBC Group NV grew its stake in shares of StepStone Group by 35.7% during the third quarter. KBC Group NV now owns 1,840 shares of the company's stock worth $105,000 after acquiring an additional 484 shares during the last quarter. CWM LLC raised its position in shares of 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. US Bancorp DE boosted its stake in StepStone Group by 442.7% in the 3rd quarter. US Bancorp DE now owns 966 shares of the company's stock worth $55,000 after purchasing an additional 788 shares in the last quarter. Finally, Blue Trust Inc. grew its position in StepStone Group by 1,586.3% during the 3rd quarter. Blue Trust Inc. now owns 860 shares of the company's stock worth $49,000 after purchasing an additional 809 shares during the last quarter. Institutional investors own 55.54% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Morgan Stanley boosted their price objective 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. UBS Group increased their price objective on StepStone Group from $55.00 to $65.00 and gave the company a "neutral" rating in a report on Tuesday, October 22nd. JPMorgan Chase & Co. lifted their target price on StepStone Group from $56.00 to $61.00 and gave the stock an "overweight" rating in a report on Tuesday, October 1st. Oppenheimer increased their price target on shares of StepStone Group from $73.00 to $84.00 and gave the stock an "outperform" rating in a report on Thursday, December 12th. Finally, Evercore ISI upped their price objective 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 equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $66.64.

StepStone Group Stock Up 1.2 %

StepStone Group stock traded up $0.74 during midday trading on Wednesday, reaching $60.26. The company's stock had a trading volume of 168,574 shares, compared to its average volume of 586,562. The business has a 50-day simple moving average of $62.77 and a 200-day simple moving average of $55.07. The company has a market cap of $6.94 billion, a P/E ratio of 100.44 and a beta of 1.27. StepStone Group LP has a fifty-two week low of $30.46 and a fifty-two week high of $70.38.

StepStone Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 13th. Shareholders 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 was Friday, November 29th. StepStone Group's payout ratio is 160.00%.

Insiders Place Their Bets

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

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.