StepStone Group LP (NASDAQ:STEP) Insider Michael I. Mccabe Sells 51,377 Shares

StepStone Group LP (NASDAQ:STEP - Get Free Report) insider Michael I. Mccabe sold 51,377 shares of the business's stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $59.90, for a total value of $3,077,482.30. Following the completion of the transaction, the insider now directly owns 196,423 shares in the company, valued at approximately $11,765,737.70. This trade represents a 20.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

StepStone Group Stock Down 1.6%

Shares of StepStone Group stock traded down $0.93 during trading hours on Tuesday, reaching $57.12. 820,517 shares of the stock traded hands, compared to its average volume of 687,499. StepStone Group LP has a one year low of $40.07 and a one year high of $70.38. The firm has a market capitalization of $6.62 billion, a price-to-earnings ratio of -33.80 and a beta of 1.37. The company has a 50 day moving average price of $52.37 and a 200 day moving average price of $57.54.

StepStone Group (NASDAQ:STEP - Get Free Report) last posted its quarterly earnings data on Thursday, May 22nd. The company reported $0.68 EPS for the quarter, topping the consensus estimate of $0.44 by $0.24. The firm had revenue of $295.86 million for the quarter, compared to the consensus estimate of $231.87 million. StepStone Group had a positive return on equity of 12.04% and a negative net margin of 11.29%. The business's revenue for the quarter was up 66.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.33 earnings per share. Sell-side analysts anticipate that StepStone Group LP will post 1.82 earnings per share for the current year.

StepStone Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be paid a $0.24 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.68%. StepStone Group's payout ratio is currently -40.17%.

Analysts Set New Price Targets

Several research firms have commented on STEP. The Goldman Sachs Group lifted their target price on shares of StepStone Group from $57.00 to $63.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 28th. Evercore ISI increased their price objective on StepStone Group from $63.00 to $69.00 and gave the company an "outperform" rating in a research report on Monday, February 10th. Morgan Stanley cut their target price on shares of StepStone Group from $66.00 to $51.00 and set an "equal weight" rating on the stock in a report on Monday, April 14th. Barclays set a $62.00 target price on shares of StepStone Group and gave the stock an "equal weight" rating in a research report on Tuesday, May 27th. Finally, Oppenheimer set a $67.00 target price on shares of StepStone Group and gave the company an "outperform" rating in a research note on Wednesday, April 16th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $62.57.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Rhumbline Advisers lifted its holdings in StepStone Group by 3.5% during the 1st quarter. Rhumbline Advisers now owns 177,208 shares of the company's stock valued at $9,256,000 after buying an additional 6,014 shares in the last quarter. Strs Ohio bought a new stake in shares of StepStone Group during the first quarter valued at approximately $757,000. Intech Investment Management LLC boosted its holdings in shares of StepStone Group by 41.5% in the first quarter. Intech Investment Management LLC now owns 38,456 shares of the company's stock valued at $2,009,000 after purchasing an additional 11,270 shares during the period. Empowered Funds LLC grew its stake in StepStone Group by 6.8% in the first quarter. Empowered Funds LLC now owns 112,647 shares of the company's stock worth $5,884,000 after purchasing an additional 7,167 shares in the last quarter. Finally, United Services Automobile Association purchased a new position in StepStone Group during the 1st quarter worth $209,000. Institutional investors own 55.54% of the company's stock.

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.