StepStone Group LP (NASDAQ:STEP) CEO Scott W. Hart Sells 10,000 Shares

StepStone Group LP (NASDAQ:STEP) CEO Scott W. Hart sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $61.43, for a total value of $614,300.00. Following the transaction, the chief executive officer now owns 110,000 shares in the company, valued at approximately $6,757,300. This represents a 8.33 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

StepStone Group Stock Down 3.5 %

STEP stock opened at $58.59 on Friday. The firm’s 50 day moving average price is $61.22 and its 200-day moving average price is $59.47. StepStone Group LP has a one year low of $32.58 and a one year high of $70.38.

StepStone Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 1.64%. The ex-dividend date of this dividend is Friday, February 28th. StepStone Group’s payout ratio is presently -56.80%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on STEP shares. Oppenheimer boosted their target price on StepStone Group from $81.00 to $85.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Morgan Stanley boosted their target price on StepStone Group from $60.00 to $65.00 and gave the stock an “equal weight” rating in a report on Thursday, November 14th. 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 report on Tuesday, November 19th. Barclays boosted their target price on StepStone Group from $66.00 to $69.00 and gave the stock an “equal weight” rating in a report on Friday, February 7th. Finally, Evercore ISI lifted their price target on shares of StepStone Group from $63.00 to $69.00 and gave the company an “outperform” rating in a research report on Monday, February 10th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $69.21.

Institutional Trading of StepStone Group

Several institutional investors have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD raised its position in StepStone Group by 19.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,599,875 shares of the company’s stock valued at $324,122,000 after purchasing an additional 895,521 shares during the period. Raymond James Financial Inc. purchased a new stake in StepStone Group in the fourth quarter valued at approximately $46,163,000. Massachusetts Financial Services Co. MA purchased a new stake in StepStone Group in the fourth quarter valued at approximately $32,340,000. Ameriprise Financial Inc. raised its position in StepStone Group by 353.2% in the fourth quarter. Ameriprise Financial Inc. now owns 661,799 shares of the company’s stock valued at $38,305,000 after purchasing an additional 515,760 shares during the period. Finally, Vanguard Group Inc. raised its position in StepStone Group by 6.3% in the fourth quarter. Vanguard Group Inc. now owns 6,938,181 shares of the company’s stock valued at $401,582,000 after purchasing an additional 411,133 shares during the period. Hedge funds and other institutional investors own 55.54% of the company’s stock.

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.