StepStone Group LP (NASDAQ:STEP) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. trimmed its holdings in StepStone Group LP (NASDAQ:STEP) by 3.4% during the third quarter, HoldingsChannel.com reports. The fund owned 22,940 shares of the company’s stock after selling 811 shares during the period. Victory Capital Management Inc.’s holdings in StepStone Group were worth $1,304,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. GAMMA Investing LLC raised its stake in StepStone Group by 291.1% during the 3rd quarter. GAMMA Investing LLC now owns 618 shares of the company’s stock valued at $35,000 after acquiring an additional 460 shares during the last quarter. Blue Trust Inc. raised its stake in shares of StepStone Group by 1,586.3% during the third quarter. Blue Trust Inc. now owns 860 shares of the company’s stock worth $49,000 after purchasing an additional 809 shares during the last quarter. US Bancorp DE raised its stake in shares of StepStone Group by 442.7% during the third quarter. US Bancorp DE now owns 966 shares of the company’s stock worth $55,000 after purchasing an additional 788 shares during the last quarter. CWM LLC lifted its holdings in shares of StepStone Group by 190.4% during the third quarter. CWM LLC now owns 1,185 shares of the company’s stock worth $67,000 after purchasing an additional 777 shares during the period. Finally, Covestor Ltd grew its position in StepStone Group by 50,250.0% in the 3rd quarter. Covestor Ltd now owns 2,014 shares of the company’s stock valued at $114,000 after buying an additional 2,010 shares during the last quarter. Hedge funds and other institutional investors own 55.54% of the company’s stock.

Insider Activity at StepStone Group

In related news, CFO David Y. Park sold 3,000 shares of the stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $68.21, for a total value of $204,630.00. Following the sale, the chief financial officer now directly owns 20,251 shares of the company’s stock, valued at approximately $1,381,320.71. This represents a 12.90 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Anthony Keathley sold 729 shares of StepStone Group stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $68.85, for a total transaction of $50,191.65. Following the transaction, the chief accounting officer now owns 2,158 shares of the company’s stock, valued at approximately $148,578.30. The trade was a 25.25 % decrease in their position. The disclosure for this sale can be found here. 18.44% of the stock is currently owned by company insiders.

StepStone Group Trading Up 0.1 %

Shares of STEP opened at $66.73 on Wednesday. StepStone Group LP has a twelve month low of $25.06 and a twelve month high of $70.38. The firm has a market capitalization of $7.68 billion, a P/E ratio of 111.22 and a beta of 1.27. The firm’s 50-day moving average is $61.37 and its two-hundred day moving average is $52.10.

StepStone Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.44%. The ex-dividend date is Friday, November 29th. StepStone Group’s dividend payout ratio is currently 160.00%.

Analysts Set New Price Targets

A number of equities analysts have commented on STEP shares. Morgan Stanley upped their price objective on shares of StepStone Group from $60.00 to $65.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 14th. Oppenheimer increased their price target on shares of StepStone Group from $56.00 to $73.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. UBS Group lifted their price objective on StepStone Group from $55.00 to $65.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Barclays boosted their target price on StepStone Group from $51.00 to $61.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. Finally, JPMorgan Chase & Co. raised their price target on StepStone Group from $56.00 to $61.00 and gave the company an “overweight” rating in a report on Tuesday, October 1st. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $64.36.

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.