Pathstone Holdings LLC Sells 2,485 Shares of StepStone Group LP (NASDAQ:STEP)

Pathstone Holdings LLC decreased its holdings in StepStone Group LP (NASDAQ:STEP) by 6.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 37,648 shares of the company’s stock after selling 2,485 shares during the quarter. Pathstone Holdings LLC’s holdings in StepStone Group were worth $2,140,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in STEP. American International Group Inc. lifted its position in StepStone Group by 1.2% in the 1st quarter. American International Group Inc. now owns 27,152 shares of the company’s stock valued at $970,000 after acquiring an additional 322 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in StepStone Group by 150.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 850,463 shares of the company’s stock valued at $30,396,000 after acquiring an additional 510,283 shares in the last quarter. SG Americas Securities LLC bought a new position in StepStone Group in the 2nd quarter valued at about $111,000. Louisiana State Employees Retirement System bought a new position in StepStone Group in the 2nd quarter valued at about $1,202,000. Finally, Bank of New York Mellon Corp lifted its position in 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 acquiring an additional 225,201 shares in the last quarter. Institutional investors own 55.54% of the company’s stock.

Insider Transactions at StepStone Group

In related news, CAO Anthony Keathley sold 729 shares of StepStone Group stock in a transaction that occurred on Tuesday, November 12th. The shares were 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 directly owns 2,158 shares in the company, valued at approximately $148,578.30. The trade was a 25.25 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO David Y. Park sold 3,000 shares of StepStone Group stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $68.21, for a total transaction of $204,630.00. Following the completion of the transaction, the chief financial officer now owns 20,251 shares of the company’s stock, valued at $1,381,320.71. This represents a 12.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 18.44% of the stock is currently owned by company insiders.

Analyst Ratings Changes

STEP has been the topic of several recent research reports. Barclays raised their price target on shares of StepStone Group from $51.00 to $61.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. Oppenheimer lifted their target price on shares of StepStone Group from $56.00 to $73.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. The Goldman Sachs Group lifted their target price on shares of StepStone Group from $64.00 to $70.50 and gave the stock a “neutral” rating in a research report on Tuesday, November 19th. Evercore ISI lifted their target price on shares of StepStone Group from $52.00 to $55.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Finally, Morgan Stanley lifted their target price on shares of StepStone Group from $60.00 to $65.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 14th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, StepStone Group presently has an average rating of “Hold” and an average target price of $64.36.

StepStone Group Stock Up 0.1 %

Shares of STEP stock opened at $66.73 on Wednesday. The company has a 50 day moving average of $61.37 and a 200-day moving average of $52.10. StepStone Group LP has a 12-month low of $25.06 and a 12-month high of $70.38. The firm has a market cap of $7.68 billion, a P/E ratio of 111.22 and a beta of 1.27.

StepStone Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be paid a dividend of $0.24 per share. The ex-dividend date is Friday, November 29th. This represents a $0.96 annualized dividend and a dividend yield of 1.44%. StepStone Group’s payout ratio is currently 160.00%.

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.