Michael I. Mccabe Sells 4,000 Shares of StepStone Group LP (NASDAQ:STEP) Stock

StepStone Group LP (NASDAQ:STEP) insider Michael I. Mccabe sold 4,000 shares of the stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $64.25, for a total value of $257,000.00. Following the completion of the sale, the insider now owns 686,516 shares in the company, valued at approximately $44,108,653. This trade represents a 0.58 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

StepStone Group Price Performance

Shares of NASDAQ STEP opened at $60.21 on Friday. The stock’s fifty day moving average price is $62.47 and its two-hundred day moving average price is $53.19. StepStone Group LP has a one year low of $25.27 and a one year high of $70.38. The firm has a market cap of $6.93 billion, a price-to-earnings ratio of 100.35 and a beta of 1.27.

StepStone Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 1.59%. The ex-dividend date is Friday, November 29th. StepStone Group’s dividend payout ratio (DPR) is currently 160.00%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Oppenheimer increased their price target on StepStone Group from $56.00 to $73.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. UBS Group increased their price target on StepStone Group from $55.00 to $65.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. The Goldman Sachs Group increased their price target on StepStone Group from $64.00 to $70.50 and gave the company a “neutral” rating in a research note on Tuesday, November 19th. JPMorgan Chase & Co. increased their price target on StepStone Group from $56.00 to $61.00 and gave the company an “overweight” rating in a research note on Tuesday, October 1st. Finally, Morgan Stanley increased their price target on StepStone Group from $60.00 to $65.00 and gave the company an “equal weight” rating in a research note on Thursday, November 14th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $64.36.

Institutional Trading of StepStone Group

Several large investors have recently modified their holdings of STEP. SG Americas Securities LLC acquired a new stake in shares of StepStone Group during the 2nd quarter worth $111,000. Louisiana State Employees Retirement System acquired a new stake in shares of StepStone Group during the 2nd quarter worth $1,202,000. Bank of New York Mellon Corp grew its holdings in shares of StepStone Group by 25.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,115,384 shares of the company’s stock worth $51,185,000 after purchasing an additional 225,201 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of 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 purchasing an additional 264,811 shares in the last quarter. Finally, Maryland State Retirement & Pension System acquired a new stake in shares of StepStone Group during the 2nd quarter worth $832,000. 55.54% of the stock is owned by institutional investors and hedge funds.

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.