Insider Selling: StepStone Group Inc. (NASDAQ:STEP) Insider Sells 67,718 Shares of Stock

StepStone Group Inc. (NASDAQ:STEP - Get Free Report) insider Michael I. Mccabe sold 67,718 shares of the business's stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $56.54, for a total transaction of $3,828,775.72. Following the completion of the sale, the insider now owns 423,864 shares of the company's stock, valued at approximately $23,965,270.56. This represents a 13.78% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

StepStone Group Price Performance

StepStone Group stock traded up $0.91 during midday trading on Thursday, reaching $53.58. The company's stock had a trading volume of 449,274 shares, compared to its average volume of 680,492. The stock has a market capitalization of $6.24 billion, a P/E ratio of -22.42 and a beta of 1.40. The stock's 50-day simple moving average is $54.10 and its 200-day simple moving average is $56.83. StepStone Group Inc. has a 52-week low of $40.07 and a 52-week high of $70.38.

StepStone Group (NASDAQ:STEP - Get Free Report) last announced its quarterly earnings data on Thursday, May 22nd. The company reported $0.68 EPS for the quarter, beating the consensus estimate of $0.44 by $0.24. The firm had revenue of $295.86 million during the quarter, compared to analyst estimates of $231.87 million. StepStone Group had a negative net margin of 15.28% and a positive return on equity of 15.21%. StepStone Group's revenue was up 66.8% on a year-over-year basis. During the same period last year, the firm posted $0.33 EPS. As a group, equities research analysts expect that StepStone Group Inc. will post 1.82 earnings per share for the current fiscal year.

StepStone Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be issued 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 1.79%. StepStone Group's dividend payout ratio is currently -40.17%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Barclays set a $62.00 price target on StepStone Group and gave the stock an "equal weight" rating in a research report on Tuesday, May 27th. Morgan Stanley reduced their target price on shares of StepStone Group from $66.00 to $51.00 and set an "equal weight" rating for the company in a report on Monday, April 14th. Oppenheimer set a $67.00 price target on shares of StepStone Group and gave the company an "outperform" rating in a research report on Wednesday, April 16th. Finally, The Goldman Sachs Group lifted their price objective 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. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $62.57.

Institutional Investors Weigh In On StepStone Group

A number of large investors have recently made changes to their positions in STEP. Steward Partners Investment Advisory LLC purchased a new position in StepStone Group in the 4th quarter worth $27,000. Versant Capital Management Inc acquired a new position in shares of StepStone Group in the first quarter valued at about $35,000. IFP Advisors Inc purchased a new position in shares of StepStone Group in the fourth quarter worth about $36,000. Amundi raised its stake in shares of StepStone Group by 26.7% in the fourth quarter. Amundi now owns 730 shares of the company's stock worth $42,000 after purchasing an additional 154 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its holdings in shares of StepStone Group by 444.4% during the fourth quarter. PNC Financial Services Group Inc. now owns 969 shares of the company's stock worth $56,000 after purchasing an additional 791 shares during the period. 55.54% of the stock is owned by hedge funds and other institutional investors.

About StepStone Group

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.