StepStone Group LP (NASDAQ:STEP) Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its stake in shares of StepStone Group LP (NASDAQ:STEP - Free Report) by 10.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 93,347 shares of the company's stock after selling 10,446 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.08% of StepStone Group worth $5,305,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. GAMMA Investing LLC grew its holdings in StepStone Group by 291.1% during the 3rd quarter. GAMMA Investing LLC now owns 618 shares of the company's stock worth $35,000 after acquiring an additional 460 shares in the last quarter. Blue Trust Inc. increased its holdings in StepStone Group by 1,586.3% during the third quarter. Blue Trust Inc. now owns 860 shares of the company's stock valued at $49,000 after buying an additional 809 shares during the period. US Bancorp DE increased its holdings in StepStone Group by 442.7% during the third quarter. US Bancorp DE now owns 966 shares of the company's stock valued at $55,000 after buying an additional 788 shares during the period. Harvest Fund Management Co. Ltd bought a new position in StepStone Group in the third quarter worth approximately $63,000. Finally, CWM LLC lifted its holdings in StepStone Group by 190.4% during the third quarter. CWM LLC now owns 1,185 shares of the company's stock worth $67,000 after buying an additional 777 shares during the period. 55.54% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CAO Anthony Keathley sold 729 shares of StepStone Group stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $68.85, for a total transaction of $50,191.65. Following the completion of the transaction, the chief accounting officer now directly owns 2,158 shares of the company's stock, valued at $148,578.30. The trade was a 25.25 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Scott W. Hart sold 22,091 shares of the business's stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $63.24, for a total transaction of $1,397,034.84. Following the completion of the transaction, the chief executive officer now owns 157,909 shares of the company's stock, valued at approximately $9,986,165.16. This represents a 12.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 29,820 shares of company stock valued at $1,908,856 over the last 90 days. Insiders own 18.44% of the company's stock.

StepStone Group Price Performance

STEP traded up $0.05 on Thursday, reaching $62.01. 604,283 shares of the stock were exchanged, compared to its average volume of 581,342. StepStone Group LP has a fifty-two week low of $26.49 and a fifty-two week high of $70.38. The firm has a market capitalization of $7.14 billion, a PE ratio of 101.25 and a beta of 1.27. The company's 50-day moving average price is $62.69 and its 200 day moving average price is $53.92.

StepStone Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date of this dividend is Friday, November 29th. StepStone Group's dividend payout ratio is presently 160.00%.

Wall Street Analyst Weigh In

Several research firms have recently commented on STEP. JPMorgan Chase & Co. boosted their price target on StepStone Group from $56.00 to $61.00 and gave the stock an "overweight" rating in a research report on Tuesday, October 1st. Barclays reduced their price objective on shares of StepStone Group from $72.00 to $66.00 and set an "equal weight" rating for the company in a research note on Monday. The Goldman Sachs Group boosted their target price on StepStone Group from $64.00 to $70.50 and gave the stock a "neutral" rating in a research note on Tuesday, November 19th. Evercore ISI upped their target price on StepStone Group from $52.00 to $55.00 and gave the company an "outperform" rating in a research report on Monday, October 14th. Finally, Oppenheimer raised their price target on StepStone Group from $73.00 to $84.00 and gave the stock an "outperform" rating in a report on Thursday. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $66.64.

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.