StepStone Group LP (NASDAQ:STEP - Get Free Report) CEO Scott W. Hart sold 1,403 shares of the stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $60.01, for a total value of $84,194.03. Following the completion of the transaction, the chief executive officer now owns 107,697 shares in the company, valued at approximately $6,462,896.97. The trade was a 1.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
StepStone Group Price Performance
STEP stock traded down $1.31 during trading on Friday, reaching $57.81. 776,842 shares of the stock traded hands, compared to its average volume of 686,235. The business's 50 day moving average price is $52.32 and its 200-day moving average price is $57.69. StepStone Group LP has a 52-week low of $40.07 and a 52-week high of $70.38. The firm has a market capitalization of $6.70 billion, a PE ratio of -34.21 and a beta of 1.37.
StepStone Group (NASDAQ:STEP - Get Free Report) last posted its quarterly earnings results on Thursday, May 22nd. The company reported $0.68 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.44 by $0.24. StepStone Group had a positive return on equity of 12.04% and a negative net margin of 11.29%. The firm had revenue of $295.86 million during the quarter, compared to the consensus estimate of $231.87 million. During the same quarter in the previous year, the business earned $0.33 earnings per share. The firm's quarterly revenue was up 66.8% compared to the same quarter last year. On average, equities research analysts predict that StepStone Group LP will post 1.82 earnings per share for the current year.
StepStone Group Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 1.66%. The ex-dividend date is Friday, June 13th. StepStone Group's payout ratio is -40.17%.
Institutional Inflows and Outflows
Institutional investors have recently modified their holdings of the business. Barclays PLC raised its stake in StepStone Group by 368.2% during the third quarter. Barclays PLC now owns 112,019 shares of the company's stock valued at $6,366,000 after buying an additional 88,095 shares in the last quarter. Oppenheimer & Co. Inc. acquired a new stake in StepStone Group during the fourth quarter valued at approximately $388,000. Cibc World Markets Corp acquired a new stake in StepStone Group during the fourth quarter valued at approximately $355,000. Proficio Capital Partners LLC acquired a new stake in StepStone Group during the fourth quarter valued at approximately $941,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in StepStone Group during the fourth quarter valued at approximately $331,000. Institutional investors and hedge funds own 55.54% of the company's stock.
Analysts Set New Price Targets
A number of research firms recently issued reports on STEP. Oppenheimer set a $67.00 price target on StepStone Group and gave the stock an "outperform" rating in a research note on Wednesday, April 16th. Evercore ISI increased their price objective on StepStone Group from $63.00 to $69.00 and gave the stock an "outperform" rating in a research report on Monday, February 10th. Barclays set a $62.00 price objective on StepStone Group and gave the stock an "equal weight" rating in a research report on Tuesday. Morgan Stanley decreased their price objective on StepStone Group from $66.00 to $51.00 and set an "equal weight" rating for the company in a research report on Monday, April 14th. Finally, The Goldman Sachs Group increased their price objective on StepStone Group from $57.00 to $63.00 and gave the stock a "neutral" rating in a research report on Wednesday. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $62.57.
View Our Latest Stock Report on StepStone Group
About StepStone Group
(
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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.
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