Truist Financial Corp Sells 4,625 Shares of StepStone Group LP (NASDAQ:STEP)

Truist Financial Corp trimmed its stake in shares of StepStone Group LP (NASDAQ:STEP - Free Report) by 15.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,529 shares of the company's stock after selling 4,625 shares during the quarter. Truist Financial Corp's holdings in StepStone Group were worth $1,420,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Barclays PLC grew its holdings in shares of StepStone Group by 368.2% in the third quarter. Barclays PLC now owns 112,019 shares of the company's stock worth $6,366,000 after purchasing an additional 88,095 shares during the last quarter. Principal Financial Group Inc. boosted its position in StepStone Group by 4.9% during the 4th quarter. Principal Financial Group Inc. now owns 438,130 shares of the company's stock valued at $25,359,000 after buying an additional 20,285 shares during the period. Geode Capital Management LLC grew its holdings in StepStone Group by 17.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,457,690 shares of the company's stock worth $82,856,000 after acquiring an additional 216,029 shares during the last quarter. Stifel Financial Corp increased its position 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 during the period. Finally, FORA Capital LLC purchased a new stake in shares of StepStone Group during the third quarter worth about $717,000. 55.54% of the stock is currently owned by institutional investors.

Remove Ads

Insider Buying and Selling at StepStone Group

In related news, insider Michael I. Mccabe sold 4,000 shares of the company's stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $64.25, for a total value of $257,000.00. Following the transaction, the insider now owns 686,516 shares in the company, valued at $44,108,653. The trade was a 0.58 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Scott W. Hart sold 10,000 shares of the firm's stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $61.43, for a total transaction of $614,300.00. Following the sale, the chief executive officer now owns 110,000 shares of the company's stock, valued at approximately $6,757,300. This represents a 8.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 36,629 shares of company stock valued at $2,302,229. Corporate insiders own 18.44% of the company's stock.

StepStone Group Stock Down 2.7 %

Shares of NASDAQ:STEP traded down $1.64 during midday trading on Monday, reaching $58.52. The company's stock had a trading volume of 288,079 shares, compared to its average volume of 474,964. The firm has a 50 day moving average of $61.09 and a 200-day moving average of $59.99. The firm has a market capitalization of $6.79 billion, a P/E ratio of -34.62 and a beta of 1.31. StepStone Group LP has a 12-month low of $32.58 and a 12-month high of $70.38.

StepStone Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date is Friday, February 28th. StepStone Group's dividend payout ratio (DPR) is presently -56.80%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on STEP shares. 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. Evercore ISI raised their price target on StepStone Group from $63.00 to $69.00 and gave the stock an "outperform" rating in a research note on Monday, February 10th. The Goldman Sachs Group boosted their price objective 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. Finally, Morgan Stanley raised their target price on shares of StepStone Group from $60.00 to $65.00 and gave the stock an "equal weight" rating in a research report on Thursday, November 14th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, StepStone Group currently has an average rating of "Hold" and an average price target of $69.21.

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.