StepStone Group LP (NASDAQ:STEP) CEO Sells $614,300.00 in Stock

StepStone Group LP (NASDAQ:STEP) CEO Scott W. Hart sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $61.43, for a total transaction of $614,300.00. Following the transaction, the chief executive officer now directly owns 110,000 shares in the company, valued at $6,757,300. The trade was a 8.33 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link.

StepStone Group Stock Down 3.5 %

StepStone Group stock opened at $58.59 on Monday. StepStone Group LP has a 52-week low of $32.58 and a 52-week high of $70.38. The firm has a fifty day moving average of $61.22 and a 200-day moving average of $59.67. The firm has a market capitalization of $6.80 billion, a P/E ratio of -34.67 and a beta of 1.31.

StepStone Group Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on STEP shares. Oppenheimer upped their price target on shares of StepStone Group from $81.00 to $85.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Barclays upped their price target on shares of StepStone Group from $66.00 to $69.00 and gave the stock an “equal weight” rating in a research report on Friday, February 7th. Evercore ISI upped their price target on shares of StepStone Group from $63.00 to $69.00 and gave the stock an “outperform” rating in a research report on Monday, February 10th. The Goldman Sachs Group upped their price target on shares of StepStone Group from $64.00 to $70.50 and gave the stock a “neutral” rating in a research report on Tuesday, November 19th. Finally, Morgan Stanley upped their price target on shares of StepStone Group from $60.00 to $65.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 14th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $69.21.

Institutional Investors Weigh In On StepStone Group

Several large investors have recently made changes to their positions in the business. Mackenzie Financial Corp acquired a new stake in shares of StepStone Group in the fourth quarter worth $237,000. Neo Ivy Capital Management acquired a new stake in StepStone Group during the 4th quarter valued at $65,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in StepStone Group by 68.1% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 156,920 shares of the company’s stock valued at $9,083,000 after purchasing an additional 63,573 shares in the last quarter. Voloridge Investment Management LLC acquired a new stake in StepStone Group during the 4th quarter valued at $5,980,000. Finally, Squarepoint Ops LLC acquired a new stake in StepStone Group during the 4th quarter valued at $543,000. Institutional investors and hedge funds own 55.54% 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.