StepStone Group LP (NASDAQ:STEP) Shares Sold by Truist Financial Corp

Truist Financial Corp decreased its holdings in StepStone Group LP (NASDAQ:STEP) by 15.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,529 shares of the company’s stock after selling 4,625 shares during the period. Truist Financial Corp’s holdings in StepStone Group were worth $1,420,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of the stock. FMR LLC raised its position in StepStone Group by 3.7% in the 3rd quarter. FMR LLC now owns 3,999,819 shares of the company’s stock valued at $227,310,000 after purchasing an additional 141,637 shares in the last quarter. State Street Corp increased its stake in shares of StepStone Group by 12.4% during the third quarter. State Street Corp now owns 2,401,034 shares of the company’s stock worth $136,451,000 after buying an additional 265,240 shares during the period. Geode Capital Management LLC increased its stake in shares of StepStone Group by 17.4% during the third quarter. Geode Capital Management LLC now owns 1,457,690 shares of the company’s stock worth $82,856,000 after buying an additional 216,029 shares during the period. Franklin Resources Inc. raised its holdings in StepStone Group by 11.9% in the third quarter. Franklin Resources Inc. now owns 805,195 shares of the company’s stock valued at $48,279,000 after acquiring an additional 85,904 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in StepStone Group by 16.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 596,851 shares of the company’s stock worth $33,919,000 after acquiring an additional 84,762 shares during the last quarter. Hedge funds and other institutional investors own 55.54% of the company’s stock.

Insider Buying and Selling at StepStone Group

In other StepStone Group news, insider Michael I. Mccabe sold 4,000 shares of the business’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $64.25, for a total value of $257,000.00. Following the completion of the transaction, the insider now directly owns 686,516 shares in the company, valued at approximately $44,108,653. The trade was a 0.58 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Scott W. Hart sold 10,000 shares of the firm’s stock in a transaction 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 sale, the chief executive officer now owns 110,000 shares in the company, valued at $6,757,300. This trade represents a 8.33 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 36,629 shares of company stock worth $2,302,229. Corporate insiders own 18.44% of the company’s stock.

StepStone Group Stock Performance

StepStone Group stock opened at $58.24 on Friday. StepStone Group LP has a fifty-two week low of $32.58 and a fifty-two week high of $70.38. The company has a market capitalization of $6.75 billion, a price-to-earnings ratio of -34.46 and a beta of 1.31. The stock has a fifty day moving average of $61.05 and a two-hundred day moving average of $59.79.

StepStone Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 1.65%. The ex-dividend date is Friday, February 28th. StepStone Group’s payout ratio is -56.80%.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Evercore ISI lifted their price target on StepStone Group from $63.00 to $69.00 and gave the stock an “outperform” rating in a report on Monday, February 10th. The Goldman Sachs Group boosted their target price on StepStone Group from $64.00 to $70.50 and gave the stock a “neutral” rating in a research note on Tuesday, November 19th. 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. Morgan Stanley raised their price objective on shares of StepStone Group from $60.00 to $65.00 and gave the stock an “equal weight” rating in a report on Thursday, November 14th. Finally, Barclays boosted their price objective on shares of StepStone Group from $66.00 to $69.00 and gave the stock an “equal weight” rating in a research report on Friday, February 7th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $69.21.

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.