StepStone Group LP (NASDAQ:STEP - Get Free Report) CAO Anthony Keathley sold 538 shares of StepStone Group stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $63.00, for a total transaction of $33,894.00. Following the completion of the transaction, the chief accounting officer now directly owns 1,386 shares in the company, valued at approximately $87,318. The trade was a 27.96 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
StepStone Group Trading Down 3.5 %
STEP opened at $58.59 on Friday. The firm has a fifty day moving average price of $61.22 and a 200 day moving average price of $59.47. StepStone Group LP has a 1 year low of $32.58 and a 1 year high of $70.38.
StepStone Group Announces Dividend
The business 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 $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 1.64%. The ex-dividend date of this dividend is Friday, February 28th. StepStone Group's payout ratio is presently -56.80%.
Institutional Investors Weigh In On StepStone Group
Several institutional investors and hedge funds have recently added to or reduced their stakes in STEP. Price T Rowe Associates Inc. MD grew its holdings in shares of StepStone Group by 19.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,599,875 shares of the company's stock worth $324,122,000 after buying an additional 895,521 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of StepStone Group during the fourth quarter worth $46,163,000. Massachusetts Financial Services Co. MA purchased a new stake in shares of StepStone Group during the fourth quarter worth $32,340,000. Ameriprise Financial Inc. grew its holdings in shares of StepStone Group by 353.2% during the fourth quarter. Ameriprise Financial Inc. now owns 661,799 shares of the company's stock worth $38,305,000 after buying an additional 515,760 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of StepStone Group by 6.3% during the fourth quarter. Vanguard Group Inc. now owns 6,938,181 shares of the company's stock worth $401,582,000 after buying an additional 411,133 shares in the last quarter. Hedge funds and other institutional investors own 55.54% of the company's stock.
Wall Street Analysts Forecast Growth
STEP has been the subject of a number of recent analyst reports. Barclays lifted their target price on shares of StepStone Group from $66.00 to $69.00 and gave the stock an "equal weight" rating in a research note on Friday, February 7th. Morgan Stanley lifted their price objective on shares of StepStone Group from $60.00 to $65.00 and gave the company an "equal weight" rating in a research note on Thursday, November 14th. Evercore ISI lifted their price objective on shares of StepStone Group from $63.00 to $69.00 and gave the company an "outperform" rating in a research note on Monday, February 10th. Oppenheimer lifted their price objective on shares of StepStone Group from $81.00 to $85.00 and gave the company an "outperform" rating in a research note on Friday, February 7th. Finally, The Goldman Sachs Group lifted their price objective on shares of StepStone Group from $64.00 to $70.50 and gave the company a "neutral" rating in a research note on Tuesday, November 19th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $69.21.
Check Out Our Latest Analysis on STEP
StepStone Group Company Profile
(
Get Free Report)
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.
Read More
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. This story was reviewed by InsiderTrades.com's editorial team prior to publication. Please send any questions or comments about this story to contact@insidertrades.com.
