StepStone Group LP (NASDAQ:STEP) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. lowered its stake in StepStone Group LP (NASDAQ:STEP) by 2.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,861 shares of the company’s stock after selling 838 shares during the period. Corebridge Financial Inc.’s holdings in StepStone Group were worth $2,018,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Steward Partners Investment Advisory LLC acquired a new stake in StepStone Group in the fourth quarter valued at approximately $27,000. Raleigh Capital Management Inc. acquired a new stake in shares of StepStone Group in the 4th quarter valued at $29,000. IFP Advisors Inc purchased a new stake in shares of StepStone Group during the 4th quarter worth $36,000. Amundi grew its stake in shares of StepStone Group by 26.7% during the fourth quarter. Amundi now owns 730 shares of the company’s stock worth $42,000 after purchasing an additional 154 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in StepStone Group by 36.6% in the fourth quarter. GAMMA Investing LLC now owns 844 shares of the company’s stock valued at $49,000 after buying an additional 226 shares during the last quarter. Hedge funds and other institutional investors own 55.54% of the company’s stock.

StepStone Group Trading Up 3.2 %

STEP stock opened at $53.89 on Wednesday. The company has a market capitalization of $6.25 billion, a P/E ratio of -31.89 and a beta of 1.33. The business has a 50 day simple moving average of $58.53 and a 200-day simple moving average of $60.11. StepStone Group LP has a twelve month low of $33.92 and a twelve month high of $70.38.

StepStone Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date was Friday, February 28th. StepStone Group’s dividend payout ratio is currently -56.80%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Barclays lifted their price target on StepStone Group from $66.00 to $69.00 and gave the stock an “equal weight” rating in a report on Friday, February 7th. Oppenheimer upped their price target on StepStone Group from $81.00 to $85.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Finally, Evercore ISI increased their price target 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. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $69.21.

Insiders Place Their Bets

In other StepStone Group news, CEO Scott W. Hart sold 10,000 shares of StepStone Group stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $61.43, for a total value of $614,300.00. Following the transaction, the chief executive officer now directly owns 110,000 shares in the company, valued at approximately $6,757,300. This trade represents a 8.33 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Anthony Keathley sold 538 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $63.00, for a total value of $33,894.00. Following the sale, the chief accounting officer now owns 1,386 shares of the company’s stock, valued at $87,318. This trade represents a 27.96 % decrease in their position. The disclosure for this sale can be found here. 18.44% of the stock is currently owned by insiders.

StepStone Group Company 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.