UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Decreases Stock Position in StepStone Group LP (NASDAQ:STEP)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lowered its holdings in shares of StepStone Group LP (NASDAQ:STEP) by 10.1% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 93,347 shares of the company’s stock after selling 10,446 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in StepStone Group were worth $5,305,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in STEP. GAMMA Investing LLC raised its holdings in 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 purchasing an additional 460 shares in the last quarter. Blue Trust Inc. increased its holdings in 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 buying an additional 809 shares in the last quarter. US Bancorp DE increased its position in shares of 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 buying an additional 788 shares in the last quarter. Harvest Fund Management Co. Ltd purchased a new stake in shares of StepStone Group during the third quarter worth about $63,000. Finally, CWM LLC increased its position in shares of 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 purchasing an additional 777 shares in the last quarter. Institutional investors own 55.54% of the company’s stock.

Insider Buying and Selling

In related news, insider Michael I. Mccabe sold 4,000 shares of the firm’s 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 sale, the insider now directly owns 686,516 shares in the company, valued at approximately $44,108,653. This trade represents a 0.58 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Anthony Keathley sold 729 shares of StepStone Group stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $68.85, for a total transaction of $50,191.65. Following the sale, the chief accounting officer now directly owns 2,158 shares in the company, valued at $148,578.30. This trade represents a 25.25 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 29,820 shares of company stock worth $1,908,856. 18.44% of the stock is owned by insiders.

StepStone Group Stock Performance

StepStone Group stock opened at $61.96 on Thursday. StepStone Group LP has a one year low of $25.88 and a one year high of $70.38. The business has a fifty day moving average of $62.63 and a two-hundred day moving average of $53.86. The company has a market cap of $7.14 billion, a P/E ratio of 100.17 and a beta of 1.27.

StepStone Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.55%. The ex-dividend date is Friday, November 29th. StepStone Group’s payout ratio is currently 160.00%.

Wall Street Analysts Forecast Growth

STEP has been the subject of several recent research reports. Barclays cut their price target on StepStone Group from $72.00 to $66.00 and set an “equal weight” rating for the company in a report on Monday. Oppenheimer increased their target price on shares of StepStone Group from $56.00 to $73.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. UBS Group increased their price objective on shares of StepStone Group from $55.00 to $65.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. upped their target price on shares of StepStone Group from $56.00 to $61.00 and gave the company an “overweight” rating in a report on Tuesday, October 1st. Finally, Evercore ISI increased their price target on shares of StepStone Group from $52.00 to $55.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, StepStone Group presently has a consensus rating of “Hold” and an average price target of $65.07.

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.