Thrivent Financial for Lutherans lowered its holdings in StepStone Group LP (NASDAQ:STEP - Free Report) by 17.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 104,822 shares of the company's stock after selling 22,920 shares during the period. Thrivent Financial for Lutherans owned approximately 0.09% of StepStone Group worth $6,067,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently made changes to their positions in STEP. Steward Partners Investment Advisory LLC bought a new stake in shares of StepStone Group in the fourth quarter valued at approximately $27,000. Raleigh Capital Management Inc. acquired a new position in StepStone Group in the 4th quarter valued at $29,000. IFP Advisors Inc bought a new stake in shares of StepStone Group during the 4th quarter valued at $36,000. Amundi grew its holdings in shares of StepStone Group by 26.7% during the 4th quarter. Amundi now owns 730 shares of the company's stock worth $42,000 after purchasing an additional 154 shares in the last quarter. Finally, GAMMA Investing LLC increased its position in shares of StepStone Group by 36.6% in the fourth quarter. GAMMA Investing LLC now owns 844 shares of the company's stock worth $49,000 after purchasing an additional 226 shares during the period. Institutional investors and hedge funds own 55.54% of the company's stock.
Wall Street Analysts Forecast Growth
Several research firms recently weighed in on STEP. Evercore ISI upped 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. Barclays increased their price target on shares of StepStone Group from $66.00 to $69.00 and gave the stock an "equal weight" rating in a research report on Friday, February 7th. Finally, Oppenheimer boosted their price objective on shares of StepStone Group from $81.00 to $85.00 and gave the company an "outperform" rating in a research report on Friday, February 7th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $69.21.
Check Out Our Latest Report on StepStone Group
Insider Buying and Selling
In other news, CAO Anthony Keathley sold 538 shares of the business's stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $63.00, for a total transaction of $33,894.00. Following the sale, the chief accounting officer now directly owns 1,386 shares in the company, valued at approximately $87,318. The trade was a 27.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Scott W. Hart sold 10,000 shares of the firm's stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $61.43, for a total transaction of $614,300.00. Following the completion of the transaction, the chief executive officer now owns 110,000 shares of the company's stock, valued at approximately $6,757,300. This trade represents a 8.33 % decrease in their position. The disclosure for this sale can be found here. 18.44% of the stock is currently owned by corporate insiders.
StepStone Group Trading Up 0.5 %
NASDAQ:STEP traded up $0.26 on Tuesday, hitting $56.80. The company had a trading volume of 184,791 shares, compared to its average volume of 613,658. StepStone Group LP has a 52 week low of $33.90 and a 52 week high of $70.38. The stock has a market capitalization of $6.59 billion, a price-to-earnings ratio of -33.58 and a beta of 1.33. The firm has a 50 day moving average of $59.37 and a two-hundred day moving average of $60.02.
StepStone Group Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 1.69%. The ex-dividend date was Friday, February 28th. StepStone Group's dividend payout ratio (DPR) is -56.80%.
StepStone Group Profile
(
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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