StepStone Group LP (NASDAQ:STEP) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP lessened its stake in shares of StepStone Group LP (NASDAQ:STEP - Free Report) by 3.8% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,499,352 shares of the company's stock after selling 219,764 shares during the period. Wellington Management Group LLP owned 4.97% of StepStone Group worth $312,528,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. GAMMA Investing LLC lifted its position in shares of StepStone Group by 291.1% in the third quarter. GAMMA Investing LLC now owns 618 shares of the company's stock worth $35,000 after buying an additional 460 shares in the last quarter. KBC Group NV increased its stake in StepStone Group by 35.7% in the 3rd 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 holdings in shares of StepStone Group by 190.4% during the 3rd quarter. CWM LLC now owns 1,185 shares of the company's stock worth $67,000 after acquiring an additional 777 shares in the last quarter. US Bancorp DE boosted its position in shares of StepStone Group by 442.7% during the 3rd quarter. US Bancorp DE now owns 966 shares of the company's stock valued at $55,000 after acquiring an additional 788 shares during the last quarter. Finally, Blue Trust Inc. grew its holdings in shares of StepStone Group by 1,586.3% in the third quarter. Blue Trust Inc. now owns 860 shares of the company's stock valued at $49,000 after purchasing an additional 809 shares in the last quarter. Hedge funds and other institutional investors own 55.54% of the company's stock.

StepStone Group Price Performance

Shares of STEP traded down $2.03 during mid-day trading on Friday, reaching $60.21. 1,118,250 shares of the company's stock traded hands, compared to its average volume of 573,461. The stock's 50-day moving average is $62.53 and its two-hundred day moving average is $53.46. The stock has a market cap of $6.93 billion, a P/E ratio of 100.35 and a beta of 1.27. StepStone Group LP has a 12 month low of $25.27 and a 12 month high of $70.38.

StepStone Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 1.59%. The ex-dividend date is Friday, November 29th. StepStone Group's payout ratio is presently 160.00%.

Wall Street Analysts Forecast Growth

STEP has been the topic of a number of recent research reports. UBS Group upped their price target on shares of StepStone Group from $55.00 to $65.00 and gave the company a "neutral" rating in a research note on Tuesday, October 22nd. Morgan Stanley upped their target price on shares of StepStone Group from $60.00 to $65.00 and gave the company an "equal weight" rating in a research report on Thursday, November 14th. Evercore ISI increased their price target 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. JPMorgan Chase & Co. boosted their price objective on StepStone Group from $56.00 to $61.00 and gave the stock an "overweight" rating in a research note on Tuesday, October 1st. Finally, Barclays lifted their target price on StepStone Group from $51.00 to $61.00 and gave the stock an "equal weight" rating in a report on Monday, October 7th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $64.36.

Insiders Place Their Bets

In other StepStone Group news, CEO Scott W. Hart sold 22,091 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $63.24, for a total transaction of $1,397,034.84. Following the transaction, the chief executive officer now owns 157,909 shares in the company, valued at approximately $9,986,165.16. This represents a 12.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Michael I. Mccabe sold 4,000 shares of the business's stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $64.25, for a total value of $257,000.00. Following the completion of the sale, the insider now owns 686,516 shares of the company's stock, valued at $44,108,653. This trade represents a 0.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 29,820 shares of company stock worth $1,908,856. Corporate insiders own 18.44% of the company's stock.

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.