Wellington Management Group LLP trimmed its stake in StepStone Group LP (NASDAQ:STEP - Free Report) by 36.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,485,680 shares of the company's stock after selling 2,013,672 shares during the quarter. Wellington Management Group LLP owned approximately 3.01% of StepStone Group worth $201,751,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in STEP. Steward Partners Investment Advisory LLC bought a new position in shares of StepStone Group in the fourth quarter valued at $27,000. Raleigh Capital Management Inc. bought a new position in shares of StepStone Group in the 4th quarter valued at about $29,000. IFP Advisors Inc acquired a new position in shares of StepStone Group during the 4th quarter worth about $36,000. Amundi raised its holdings in shares of StepStone Group by 26.7% in the 4th quarter. Amundi now owns 730 shares of the company's stock valued at $42,000 after purchasing an additional 154 shares during the period. Finally, GAMMA Investing LLC lifted its stake in StepStone Group by 36.6% in the 4th quarter. GAMMA Investing LLC now owns 844 shares of the company's stock valued at $49,000 after purchasing an additional 226 shares during the last quarter. Institutional investors and hedge funds own 55.54% of the company's stock.
Analyst Upgrades and Downgrades
Several research analysts have recently commented on the company. Evercore ISI lifted their target price on StepStone Group from $63.00 to $69.00 and gave the stock an "outperform" rating in a research note on Monday, February 10th. Barclays decreased their price objective on shares of StepStone Group from $69.00 to $48.00 and set an "equal weight" rating on the stock in a report on Monday. Finally, Oppenheimer raised their target price on shares of StepStone Group from $81.00 to $85.00 and gave the stock an "outperform" rating in a research note on Friday, February 7th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, StepStone Group presently has a consensus rating of "Hold" and an average target price of $66.21.
Read Our Latest Stock Report on STEP
StepStone Group Stock Down 0.7 %
Shares of NASDAQ:STEP traded down $0.32 during trading on Monday, reaching $43.58. 2,620,674 shares of the company traded hands, compared to its average volume of 647,503. The firm has a market capitalization of $5.05 billion, a PE ratio of -25.79 and a beta of 1.36. StepStone Group LP has a 52 week low of $34.64 and a 52 week high of $70.38. The company's 50 day moving average is $57.25 and its two-hundred day moving average is $59.91.
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 given a dividend of $0.24 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.96 annualized dividend and a yield of 2.20%. StepStone Group's dividend payout ratio is -56.80%.
Insiders Place Their Bets
In other StepStone Group news, CAO Anthony Keathley sold 538 shares of the firm's stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $63.00, for a total value of $33,894.00. Following the sale, the chief accounting officer now owns 1,386 shares of the company's stock, valued at approximately $87,318. This trade represents a 27.96 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Scott W. Hart sold 10,000 shares of StepStone Group stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $61.43, for a total value of $614,300.00. Following the completion of the transaction, the chief executive officer now owns 110,000 shares in the company, valued at approximately $6,757,300. The trade was a 8.33 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 18.44% of the company's stock.
About StepStone Group
(
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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