Segall Bryant & Hamill LLC Sells 80,618 Shares of StepStone Group LP (NASDAQ:STEP)

Segall Bryant & Hamill LLC trimmed its stake in StepStone Group LP (NASDAQ:STEP) by 40.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 119,815 shares of the company’s stock after selling 80,618 shares during the period. Segall Bryant & Hamill LLC’s holdings in StepStone Group were worth $6,809,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Bank of New York Mellon Corp grew its position in StepStone Group by 25.3% during the second quarter. Bank of New York Mellon Corp now owns 1,115,384 shares of the company’s stock worth $51,185,000 after buying an additional 225,201 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of StepStone Group by 150.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 850,463 shares of the company’s stock worth $30,396,000 after purchasing an additional 510,283 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of StepStone Group by 8.1% during the second quarter. Dimensional Fund Advisors LP now owns 800,909 shares of the company’s stock valued at $36,753,000 after purchasing an additional 60,339 shares during the period. Principal Financial Group Inc. raised its stake in shares of StepStone Group by 43.3% in the third quarter. Principal Financial Group Inc. now owns 417,845 shares of the company’s stock valued at $23,746,000 after purchasing an additional 126,315 shares in the last quarter. Finally, Lazard Asset Management LLC lifted its position in StepStone Group by 0.4% in the first quarter. Lazard Asset Management LLC now owns 288,459 shares of the company’s stock worth $10,309,000 after purchasing an additional 1,061 shares during the period. Institutional investors own 55.54% of the company’s stock.

StepStone Group Price Performance

STEP stock opened at $66.27 on Friday. The stock has a market capitalization of $7.63 billion, a price-to-earnings ratio of 110.44 and a beta of 1.27. The business has a fifty day moving average price of $60.55 and a 200 day moving average price of $51.30. StepStone Group LP has a fifty-two week low of $25.06 and a fifty-two week high of $70.38.

StepStone Group Dividend Announcement

The firm 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. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.45%. StepStone Group’s dividend payout ratio is 160.00%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on STEP shares. Morgan Stanley increased their price objective on shares of StepStone Group from $60.00 to $65.00 and gave the company an “equal weight” rating in a research note on Thursday, November 14th. JPMorgan Chase & Co. raised their price target on shares of StepStone Group from $56.00 to $61.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 1st. The Goldman Sachs Group upped their price objective on StepStone Group from $64.00 to $70.50 and gave the company a “neutral” rating in a research note on Tuesday. Oppenheimer raised their target price on StepStone Group from $56.00 to $73.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Finally, Evercore ISI upped their price target on StepStone Group from $52.00 to $55.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $64.36.

Insider Buying and Selling

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

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.