StepStone Group LP (NASDAQ:STEP) Shares Sold by Janus Henderson Group PLC

Janus Henderson Group PLC reduced its holdings in shares of StepStone Group LP (NASDAQ:STEP) by 48.6% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 24,398 shares of the company’s stock after selling 23,083 shares during the quarter. Janus Henderson Group PLC’s holdings in StepStone Group were worth $1,387,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. SG Americas Securities LLC acquired a new position in StepStone Group in the second quarter valued at approximately $111,000. Louisiana State Employees Retirement System acquired a new position in shares of StepStone Group in the 2nd quarter valued at $1,202,000. Bank of New York Mellon Corp grew its position in shares of StepStone Group by 25.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,115,384 shares of the company’s stock valued at $51,185,000 after buying an additional 225,201 shares during the last quarter. Principal Financial Group Inc. raised its stake in StepStone Group by 991.1% during the 2nd quarter. Principal Financial Group Inc. now owns 291,530 shares of the company’s stock worth $13,378,000 after acquiring an additional 264,811 shares in the last quarter. Finally, Maryland State Retirement & Pension System purchased a new stake in StepStone Group in the second quarter valued at $832,000. Hedge funds and other institutional investors own 55.54% of the company’s stock.

Insider Activity at StepStone Group

In other StepStone Group news, CAO Anthony Keathley sold 729 shares of the stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $68.85, for a total value of $50,191.65. Following the completion of the transaction, the chief accounting officer now owns 2,158 shares in the company, valued at approximately $148,578.30. This represents a 25.25 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO David Y. Park sold 3,000 shares of the business’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $68.21, for a total transaction of $204,630.00. Following the sale, the chief financial officer now owns 20,251 shares in the company, valued at $1,381,320.71. The trade was a 12.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 29,820 shares of company stock worth $1,908,856 over the last 90 days. Company insiders own 18.44% of the company’s stock.

StepStone Group Stock Performance

Shares of STEP opened at $61.95 on Friday. The stock has a market capitalization of $7.13 billion, a P/E ratio of 103.25 and a beta of 1.27. StepStone Group LP has a 1 year low of $28.35 and a 1 year high of $70.38. The company’s fifty day moving average is $62.76 and its two-hundred day moving average is $54.11.

StepStone Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were issued a dividend of $0.24 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.96 annualized dividend and a yield of 1.55%. StepStone Group’s dividend payout ratio is currently 160.00%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on STEP. Barclays cut their target price on StepStone Group from $72.00 to $66.00 and set an “equal weight” rating on the stock in a research report on Monday, December 9th. Morgan Stanley lifted their price target on StepStone Group from $60.00 to $65.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 14th. Evercore ISI increased their price objective on StepStone Group from $52.00 to $55.00 and gave the company an “outperform” rating in a report on Monday, October 14th. UBS Group lifted their target price on shares of StepStone Group from $55.00 to $65.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Finally, Oppenheimer increased their price target on shares of StepStone Group from $73.00 to $84.00 and gave the stock an “outperform” rating in a research note on Thursday. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $66.64.

StepStone Group 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.