StepStone Group LP (NASDAQ:STEP) Stake Reduced by GSA Capital Partners LLP

GSA Capital Partners LLP cut its holdings in StepStone Group LP (NASDAQ:STEP) by 42.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,021 shares of the company’s stock after selling 5,922 shares during the quarter. GSA Capital Partners LLP’s holdings in StepStone Group were worth $456,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. American International Group Inc. raised its position in StepStone Group by 1.2% in the first quarter. American International Group Inc. now owns 27,152 shares of the company’s stock worth $970,000 after acquiring an additional 322 shares in the last quarter. GAMMA Investing LLC raised its holdings in StepStone Group by 291.1% during the 3rd quarter. GAMMA Investing LLC now owns 618 shares of the company’s stock worth $35,000 after buying an additional 460 shares during the period. CWM LLC raised its holdings in StepStone Group by 190.4% during the 3rd quarter. CWM LLC now owns 1,185 shares of the company’s stock worth $67,000 after buying an additional 777 shares during the period. US Bancorp DE raised its holdings in StepStone Group by 442.7% during the 3rd quarter. US Bancorp DE now owns 966 shares of the company’s stock worth $55,000 after buying an additional 788 shares during the period. Finally, Blue Trust Inc. raised its holdings in StepStone Group by 1,586.3% during the 3rd quarter. Blue Trust Inc. now owns 860 shares of the company’s stock worth $49,000 after buying an additional 809 shares during the period. 55.54% of the stock is currently owned by institutional investors.

Insider Activity at StepStone Group

In other StepStone Group news, CFO David Y. Park sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $68.21, for a total transaction of $204,630.00. Following the completion of the sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Anthony Keathley sold 729 shares of the company’s stock in a transaction that occurred on 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 $148,578.30. The trade was a 25.25 % decrease in their position. The disclosure for this sale can be found here. 18.44% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

STEP has been the topic of several recent analyst reports. Evercore ISI boosted their price objective on StepStone Group from $52.00 to $55.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Barclays boosted their price objective on StepStone Group from $51.00 to $61.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. Morgan Stanley boosted their price objective on StepStone Group from $60.00 to $65.00 and gave the stock an “equal weight” rating in a report on Thursday, November 14th. UBS Group lifted their target price on StepStone Group from $55.00 to $65.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. Finally, JPMorgan Chase & Co. lifted their target price on StepStone Group from $56.00 to $61.00 and gave the company an “overweight” rating in a research note on Tuesday, October 1st. Four equities 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 has a consensus rating of “Hold” and a consensus target price of $64.36.

StepStone Group Stock Performance

Shares of NASDAQ STEP opened at $65.25 on Thursday. The stock has a market cap of $7.51 billion, a price-to-earnings ratio of 108.75 and a beta of 1.27. The business has a 50 day simple moving average of $60.26 and a 200 day simple moving average of $51.20. StepStone Group LP has a 52 week low of $25.06 and a 52 week high of $70.38.

StepStone Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be paid a $0.24 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.96 annualized dividend and a dividend yield of 1.47%. StepStone Group’s payout ratio is 160.00%.

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.