SG Americas Securities LLC raised its position in shares of StepStone Group Inc. (NASDAQ:STEP – Get Rating) by 55.8% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 21,107 shares of the company’s stock after purchasing an additional 7,562 shares during the quarter. SG Americas Securities LLC’s holdings in StepStone Group were worth $517,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. Versor Investments LP increased its stake in StepStone Group by 25.6% during the 2nd quarter. Versor Investments LP now owns 9,500 shares of the company’s stock valued at $247,000 after purchasing an additional 1,939 shares in the last quarter. Shell Asset Management Co. increased its stake in StepStone Group by 48.4% during the 2nd quarter. Shell Asset Management Co. now owns 13,763 shares of the company’s stock valued at $358,000 after purchasing an additional 4,491 shares in the last quarter. LS Investment Advisors LLC bought a new stake in StepStone Group during the 2nd quarter valued at about $71,000. Occudo Quantitative Strategies LP increased its stake in StepStone Group by 7.3% during the 2nd quarter. Occudo Quantitative Strategies LP now owns 23,768 shares of the company’s stock valued at $619,000 after purchasing an additional 1,626 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of StepStone Group in the second quarter worth approximately $356,000. 93.82% of the stock is currently owned by institutional investors.
StepStone Group Trading Down 0.7 %
STEP opened at $28.28 on Wednesday. The company has a market cap of $3.08 billion, a price-to-earnings ratio of 33.12, a PEG ratio of 2.29 and a beta of 1.40. The company’s 50 day moving average is $27.97 and its 200 day moving average is $27.56. StepStone Group Inc. has a 12-month low of $22.39 and a 12-month high of $41.19.
StepStone Group Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 15th. Investors of record on Wednesday, November 30th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.83%. The ex-dividend date of this dividend was Tuesday, November 29th. StepStone Group’s payout ratio is 93.02%.
Insider Buying and Selling
In related news, major shareholder James Lim sold 436,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 10th. The shares were sold at an average price of $30.18, for a total value of $13,158,480.00. Following the transaction, the insider now owns 6,913,886 shares of the company’s stock, valued at $208,661,079.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other StepStone Group news, major shareholder James Lim sold 436,000 shares of StepStone Group stock in a transaction that occurred on Thursday, November 10th. The shares were sold at an average price of $30.18, for a total transaction of $13,158,480.00. Following the transaction, the insider now owns 6,913,886 shares of the company’s stock, valued at $208,661,079.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO David Y. Park sold 3,000 shares of StepStone Group stock in a transaction that occurred on Thursday, December 15th. The shares were sold at an average price of $27.40, for a total transaction of $82,200.00. Following the transaction, the chief accounting officer now directly owns 27,231 shares in the company, valued at approximately $746,129.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 469,612 shares of company stock valued at $14,148,577. 20.01% of the stock is owned by insiders.
Wall Street Analyst Weigh In
A number of analysts have recently commented on STEP shares. Morgan Stanley lifted their price target on shares of StepStone Group from $30.00 to $31.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Barclays reduced their price target on shares of StepStone Group from $29.00 to $28.00 and set an “equal weight” rating for the company in a research note on Monday, December 19th. Three research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $34.10.
About StepStone Group
StepStone Group Inc is an investment firm specializing in direct, fund of funds, secondary direct, and secondary indirect investments. For direct investment, it seeks to invest in venture debt, incubation, mezzanine, distressed/vulture, seed/startup, early venture, mid venture, late venture, emerging growth, later stage, turnaround, growth capital, industry consolidation, recapitalization, and buyout investments in mature and middle market companies.
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