StepStone Group LP (NASDAQ:STEP) Shares Sold by Jane Street Group LLC

Jane Street Group LLC cut its stake in StepStone Group LP (NASDAQ:STEP) by 61.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 34,959 shares of the company’s stock after selling 55,462 shares during the period. Jane Street Group LLC’s holdings in StepStone Group were worth $1,987,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. GAMMA Investing LLC boosted its holdings in StepStone Group by 291.1% during the 3rd quarter. GAMMA Investing LLC now owns 618 shares of the company’s stock valued at $35,000 after acquiring an additional 460 shares during the period. Blue Trust Inc. lifted its position in shares of 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 last quarter. US Bancorp DE lifted its position in shares of 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 last quarter. Harvest Fund Management Co. Ltd purchased a new stake in StepStone Group in the third quarter valued at $63,000. Finally, CWM LLC increased its holdings in shares of StepStone Group by 190.4% in the 3rd quarter. CWM LLC now owns 1,185 shares of the company’s stock valued at $67,000 after acquiring an additional 777 shares during the period. 55.54% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at StepStone Group

In related news, CEO Scott W. Hart sold 22,091 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $63.24, for a total transaction of $1,397,034.84. Following the sale, the chief executive officer now owns 157,909 shares of the company’s stock, valued at $9,986,165.16. The trade was a 12.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michael I. Mccabe sold 4,000 shares of the company’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $64.25, for a total value of $257,000.00. Following the completion of the sale, the insider now owns 686,516 shares of the company’s stock, valued at approximately $44,108,653. This trade represents a 0.58 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 29,820 shares of company stock worth $1,908,856 in the last three months. 18.44% of the stock is owned by company insiders.

StepStone Group Trading Up 1.2 %

NASDAQ:STEP opened at $60.26 on Wednesday. The firm has a market capitalization of $6.94 billion, a PE ratio of 100.44 and a beta of 1.27. StepStone Group LP has a 52 week low of $30.46 and a 52 week high of $70.38. The stock has a 50 day moving average of $62.75 and a 200-day moving average of $54.94.

StepStone Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were issued a $0.24 dividend. The ex-dividend date was Friday, November 29th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.59%. StepStone Group’s dividend payout ratio (DPR) is presently 160.00%.

Wall Street Analysts Forecast Growth

STEP has been the subject of several recent analyst reports. The Goldman Sachs Group raised their target price on shares of StepStone Group from $64.00 to $70.50 and gave the stock a “neutral” rating in a research note on Tuesday, November 19th. Evercore ISI raised 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. JPMorgan Chase & Co. increased their price objective on shares of StepStone Group from $56.00 to $61.00 and gave the stock an “overweight” rating in a report on Tuesday, October 1st. Oppenheimer raised their price target on shares of StepStone Group from $73.00 to $84.00 and gave the company an “outperform” rating in a report on Thursday, December 12th. Finally, Morgan Stanley raised their price target on shares of StepStone Group from $60.00 to $65.00 and gave the company an “equal weight” rating in a report on Thursday, November 14th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $66.64.

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.