StepStone Group LP (NASDAQ:STEP) Shares Sold by Versor Investments LP

Versor Investments LP lowered its stake in StepStone Group LP (NASDAQ:STEP) by 15.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,600 shares of the company’s stock after selling 1,000 shares during the period. Versor Investments LP’s holdings in StepStone Group were worth $318,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of STEP. Amalgamated Bank grew its holdings in StepStone Group by 749.8% during the second quarter. Amalgamated Bank now owns 16,001 shares of the company’s stock worth $734,000 after acquiring an additional 14,118 shares during the period. Principal Financial Group Inc. grew its holdings in StepStone Group by 991.1% during the second 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 during the period. Public Sector Pension Investment Board acquired a new position in StepStone Group during the second quarter worth $5,254,000. Bank of New York Mellon Corp grew its holdings in StepStone Group by 25.3% during the second quarter. Bank of New York Mellon Corp now owns 1,115,384 shares of the company’s stock worth $51,185,000 after acquiring an additional 225,201 shares during the period. Finally, SG Americas Securities LLC grew its holdings in StepStone Group by 399.3% during the third quarter. SG Americas Securities LLC now owns 12,024 shares of the company’s stock worth $683,000 after acquiring an additional 9,616 shares during the period. Institutional investors and hedge funds own 55.54% of the company’s stock.

StepStone Group Stock Down 0.6 %

STEP opened at $65.00 on Friday. The firm has a market cap of $7.19 billion, a P/E ratio of 108.33 and a beta of 1.27. StepStone Group LP has a 52 week low of $25.06 and a 52 week high of $70.38. The business’s fifty day simple moving average is $59.47 and its 200 day simple moving average is $50.49.

StepStone Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date of this dividend is Friday, November 29th. StepStone Group’s payout ratio is currently 160.00%.

Insider Activity at StepStone Group

In other StepStone Group news, CAO Anthony Keathley sold 729 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $68.85, for a total value of $50,191.65. Following the sale, the chief accounting officer now directly owns 2,158 shares of the company’s stock, valued at approximately $148,578.30. This trade represents a 25.25 % decrease in their position. The sale 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 the firm’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $68.21, for a total value of $204,630.00. Following the completion of the sale, the chief financial officer now directly owns 20,251 shares in the company, valued at approximately $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. Corporate insiders own 18.44% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on STEP shares. JPMorgan Chase & Co. upped their price objective on StepStone Group from $56.00 to $61.00 and gave the stock an “overweight” rating in a report on Tuesday, October 1st. The Goldman Sachs Group upped their price objective on StepStone Group from $51.50 to $57.00 and gave the stock a “neutral” rating in a report on Monday, September 30th. Oppenheimer raised their price target on StepStone Group from $56.00 to $73.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. UBS Group raised their price target on StepStone Group from $55.00 to $65.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. Finally, Barclays raised their price target on StepStone Group from $51.00 to $61.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, StepStone Group currently has a consensus rating of “Hold” and a consensus price target of $62.43.

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.