StepStone Group LP (NASDAQ:STEP) Insider Sells $11,968,480.72 in Stock

StepStone Group LP (NASDAQ:STEP - Get Free Report) insider Michael I. Mccabe sold 199,741 shares of the company's stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $59.92, for a total value of $11,968,480.72. Following the completion of the sale, the insider now owns 491,582 shares in the company, valued at $29,455,593.44. This trade represents a 28.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

StepStone Group Trading Up 0.3%

Shares of STEP traded up $0.20 during trading hours on Monday, hitting $58.05. 566,603 shares of the stock traded hands, compared to its average volume of 686,337. StepStone Group LP has a 1-year low of $40.07 and a 1-year high of $70.38. The firm has a market capitalization of $6.73 billion, a PE ratio of -34.35 and a beta of 1.37. The business has a fifty day moving average of $52.37 and a 200-day moving average of $57.54.

StepStone Group (NASDAQ:STEP - Get Free Report) last issued its quarterly earnings results on Thursday, May 22nd. The company reported $0.68 earnings per share (EPS) 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 business 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 earnings per share. The firm's revenue for the quarter was up 66.8% compared to the same quarter last year. As a group, equities research analysts expect that StepStone Group LP will post 1.82 earnings per share for the current fiscal year.

StepStone Group Announces Dividend

The business also recently announced 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. This represents a $0.96 annualized dividend and a yield of 1.65%. The ex-dividend date of this dividend is Friday, June 13th. StepStone Group's payout ratio is -40.17%.

Hedge Funds Weigh In On StepStone Group

Hedge funds have recently added to or reduced their stakes in the stock. Barclays PLC lifted its stake in StepStone Group by 368.2% in 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 during the period. Oppenheimer & Co. Inc. acquired a new position in StepStone Group in the fourth quarter valued at about $388,000. Cibc World Markets Corp acquired a new position in StepStone Group in the fourth quarter valued at about $355,000. Proficio Capital Partners LLC acquired a new position in StepStone Group in the fourth quarter valued at about $941,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in StepStone Group in the fourth quarter valued at about $331,000. Institutional investors and hedge funds own 55.54% of the company's stock.

Analyst Ratings Changes

STEP has been the topic of a number of recent analyst reports. Evercore ISI boosted their price objective on StepStone Group from $63.00 to $69.00 and gave the stock an "outperform" rating in a research note on Monday, February 10th. Oppenheimer set a $67.00 price objective on StepStone Group and gave the stock an "outperform" rating in a research note on Wednesday, April 16th. 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 boosted their price objective on StepStone Group from $57.00 to $63.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 28th. Finally, Morgan Stanley reduced their price objective on StepStone Group from $66.00 to $51.00 and set an "equal weight" rating on the stock in a research note on Monday, April 14th. Four equities 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, StepStone Group presently has a consensus rating of "Hold" and a consensus 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.