StepStone Group LP (NASDAQ:STEP) Shares Sold by Empowered Funds LLC

Empowered Funds LLC lowered its position in StepStone Group LP (NASDAQ:STEP) by 7.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 91,140 shares of the company’s stock after selling 7,858 shares during the period. Empowered Funds LLC owned approximately 0.08% of StepStone Group worth $5,179,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of STEP. GAMMA Investing LLC grew its holdings in StepStone Group by 291.1% in the third quarter. GAMMA Investing LLC now owns 618 shares of the company’s stock valued at $35,000 after purchasing an additional 460 shares during the last quarter. Blue Trust Inc. grew its stake in StepStone Group by 1,586.3% in the 3rd quarter. Blue Trust Inc. now owns 860 shares of the company’s stock valued at $49,000 after acquiring an additional 809 shares during the last quarter. US Bancorp DE increased its holdings in 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 in the last quarter. CWM LLC raised its position 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 acquiring an additional 777 shares during the last quarter. Finally, KBC Group NV raised its position in StepStone Group by 35.7% during the third 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. 55.54% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

STEP has been the subject of a number of recent research reports. JPMorgan Chase & Co. raised their price objective on shares of StepStone Group from $56.00 to $61.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 1st. Morgan Stanley boosted their price target on StepStone Group from $60.00 to $65.00 and gave the stock an “equal weight” rating in a report on Thursday. Evercore ISI upped their price objective on StepStone Group from $52.00 to $55.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Barclays boosted their target price on shares of StepStone Group from $51.00 to $61.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. Finally, The Goldman Sachs Group raised their price target on shares of StepStone Group from $51.50 to $57.00 and gave the stock a “neutral” rating in a research note on Monday, September 30th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $62.43.

StepStone Group Price Performance

STEP opened at $65.00 on Monday. StepStone Group LP has a 12 month low of $25.06 and a 12 month high of $70.38. The business has a 50-day moving average of $59.47 and a two-hundred day moving average of $50.70. The stock has a market capitalization of $7.19 billion, a price-to-earnings ratio of 108.34 and a beta of 1.27.

StepStone Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be issued a $0.24 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.96 dividend on an annualized basis and a yield of 1.48%. StepStone Group’s payout ratio is 160.00%.

Insider Buying and Selling

In other StepStone Group news, CFO David Y. Park sold 3,000 shares of the business’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $68.21, for a total transaction of $204,630.00. Following the completion of the sale, the chief financial officer now owns 20,251 shares of the company’s stock, valued at approximately $1,381,320.71. The trade was a 12.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Anthony Keathley sold 729 shares of the company’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $68.85, for a total value of $50,191.65. Following the sale, the chief accounting officer now owns 2,158 shares of the company’s stock, valued at $148,578.30. This represents a 25.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 18.44% of the stock is currently owned by company insiders.

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.