Los Angeles Capital Management LLC Sells 4,260 Shares of StepStone Group LP (NASDAQ:STEP)

Los Angeles Capital Management LLC decreased its position in shares of StepStone Group LP (NASDAQ:STEP) by 8.2% during the 4th quarter, Holdings Channel reports. The fund owned 47,821 shares of the company’s stock after selling 4,260 shares during the quarter. Los Angeles Capital Management LLC’s holdings in StepStone Group were worth $2,768,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the company. Raleigh Capital Management Inc. acquired a new stake in StepStone Group in the fourth quarter worth $29,000. IFP Advisors Inc acquired a new stake in StepStone Group during the 4th quarter worth $36,000. GAMMA Investing LLC lifted its holdings in StepStone Group by 36.6% during the fourth quarter. GAMMA Investing LLC now owns 844 shares of the company’s stock worth $49,000 after acquiring an additional 226 shares in the last quarter. Blue Trust Inc. lifted its holdings in StepStone Group by 1,586.3% during the third quarter. Blue Trust Inc. now owns 860 shares of the company’s stock worth $49,000 after acquiring an additional 809 shares in the last quarter. Finally, US Bancorp DE grew its stake in StepStone Group by 442.7% in the third 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 period. Institutional investors and hedge funds own 55.54% of the company’s stock.

Wall Street Analysts Forecast Growth

STEP has been the topic of several recent analyst reports. The Goldman Sachs Group lifted their price objective on StepStone Group from $64.00 to $70.50 and gave the company a “neutral” rating in a report on Tuesday, November 19th. Barclays raised their target price on shares of StepStone Group from $66.00 to $69.00 and gave the stock an “equal weight” rating in a 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 company an “outperform” rating in a report on Monday, February 10th. Morgan Stanley raised their price objective on shares of StepStone Group from $60.00 to $65.00 and gave the stock an “equal weight” rating in a report on Thursday, November 14th. Finally, Oppenheimer increased 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. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $69.21.

StepStone Group Price Performance

Shares of StepStone Group stock opened at $58.24 on Friday. The business has a fifty day simple moving average of $61.05 and a two-hundred day simple moving average of $59.79. StepStone Group LP has a 1 year low of $32.58 and a 1 year high of $70.38. The company has a market capitalization of $6.75 billion, a price-to-earnings ratio of -34.46 and a beta of 1.31.

StepStone Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be issued a dividend of $0.24 per share. The ex-dividend date is Friday, February 28th. This represents a $0.96 annualized dividend and a yield of 1.65%. StepStone Group’s payout ratio is currently -56.80%.

Insider Activity at StepStone Group

In related news, CEO Scott W. Hart sold 22,091 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $63.24, for a total value of $1,397,034.84. Following the transaction, the chief executive officer now directly 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Michael I. Mccabe sold 4,000 shares of StepStone Group stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $64.25, for a total transaction 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 position. The disclosure for this sale can be found here. Insiders sold 36,629 shares of company stock worth $2,302,229 in the last ninety days. 18.44% of the stock is 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.