StepStone Group LP (NASDAQ:STEP) Insider Michael I. Mccabe Sells 67,718 Shares

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

StepStone Group Stock Down 0.2%

NASDAQ STEP traded down $0.13 during trading hours on Monday, hitting $53.73. 649,764 shares of the company were exchanged, compared to its average volume of 682,043. StepStone Group LP has a 52 week low of $40.07 and a 52 week high of $70.38. The stock has a 50-day moving average price of $53.70 and a 200 day moving average price of $56.97. The stock has a market cap of $6.26 billion, a PE ratio of -31.79 and a beta of 1.40.

StepStone Group (NASDAQ:STEP - Get Free Report) last released its quarterly earnings results on Thursday, May 22nd. The company reported $0.68 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $295.86 million for the quarter, compared to analyst estimates of $231.87 million. During the same quarter in the prior year, the firm posted $0.33 EPS. StepStone Group's quarterly revenue was up 66.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that StepStone Group LP will post 1.82 earnings per share for the current year.

StepStone Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be paid a dividend of $0.24 per share. 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 presently -40.17%.

Hedge Funds Weigh In On StepStone Group

Hedge funds have recently added to or reduced their stakes in the company. Louisiana State Employees Retirement System boosted its position in shares of StepStone Group by 1.0% during the fourth quarter. Louisiana State Employees Retirement System now owns 30,600 shares of the company's stock valued at $1,771,000 after buying an additional 300 shares during the period. New York State Teachers Retirement System lifted its stake in shares of StepStone Group by 8.9% during the 4th quarter. New York State Teachers Retirement System now owns 15,973 shares of the company's stock worth $925,000 after acquiring an additional 1,300 shares during the last quarter. Blue Trust Inc. boosted its holdings in StepStone Group by 25.5% during the 4th quarter. Blue Trust Inc. now owns 1,079 shares of the company's stock valued at $61,000 after acquiring an additional 219 shares during the period. Rhumbline Advisers boosted its holdings in StepStone Group by 3.2% during the 4th quarter. Rhumbline Advisers now owns 171,194 shares of the company's stock valued at $9,909,000 after acquiring an additional 5,377 shares during the period. Finally, Principal Financial Group Inc. grew its position in StepStone Group by 4.9% in the 4th quarter. Principal Financial Group Inc. now owns 438,130 shares of the company's stock valued at $25,359,000 after acquiring an additional 20,285 shares during the last quarter. 55.54% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

STEP has been the topic of a number of research analyst reports. Morgan Stanley decreased their target price on StepStone Group from $66.00 to $51.00 and set an "equal weight" rating on the stock in a research report on Monday, April 14th. Barclays set a $62.00 price objective on StepStone Group and gave the stock an "equal weight" rating in a research note on Tuesday, May 27th. The Goldman Sachs Group increased their target price on StepStone Group from $57.00 to $63.00 and gave the company a "neutral" rating in a research report on Wednesday, May 28th. Finally, Oppenheimer set a $67.00 price target on shares of StepStone Group and gave the stock an "outperform" rating in a research report on Wednesday, April 16th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $62.57.

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.

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