StepStone Group LP (NASDAQ:STEP – Get Free Report) major shareholder James Lim sold 31,648 shares of StepStone Group stock in a transaction on Monday, September 11th. The shares were sold at an average price of $31.42, for a total transaction of $994,380.16. Following the completion of the transaction, the insider now owns 6,781,934 shares in the company, valued at $213,088,366.28. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.
James Lim also recently made the following trade(s):
- On Wednesday, September 13th, James Lim sold 53,925 shares of StepStone Group stock. The shares were sold at an average price of $31.76, for a total transaction of $1,712,658.00.
- On Thursday, September 7th, James Lim sold 18,466 shares of StepStone Group stock. The stock was sold at an average price of $31.15, for a total transaction of $575,215.90.
- On Tuesday, September 5th, James Lim sold 710 shares of StepStone Group stock. The shares were sold at an average price of $31.03, for a total value of $22,031.30.
- On Thursday, August 31st, James Lim sold 634 shares of StepStone Group stock. The shares were sold at an average price of $31.01, for a total value of $19,660.34.
StepStone Group Stock Performance
StepStone Group stock opened at $31.24 on Friday. StepStone Group LP has a fifty-two week low of $19.83 and a fifty-two week high of $32.12. The firm has a market capitalization of $3.41 billion, a price-to-earnings ratio of 148.76 and a beta of 1.40. The stock’s fifty day moving average is $28.82 and its two-hundred day moving average is $25.49.
StepStone Group Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Thursday, August 31st will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.69%. This is a boost from StepStone Group’s previous quarterly dividend of $0.07. The ex-dividend date of this dividend is Wednesday, August 30th. StepStone Group’s dividend payout ratio (DPR) is 400.00%.
Analyst Ratings Changes
Several research firms have issued reports on STEP. Barclays increased their price objective on StepStone Group from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Monday. The Goldman Sachs Group increased their price target on shares of StepStone Group from $29.00 to $33.00 and gave the company a “neutral” rating in a report on Friday, August 4th. TheStreet upgraded shares of StepStone Group from a “d+” rating to a “c-” rating in a research note on Monday, August 7th. Finally, Morgan Stanley upped their target price on shares of StepStone Group from $26.00 to $27.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 8th. Four research analysts have rated the stock with a hold rating, According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $32.00.
Read Our Latest Analysis on StepStone Group
Institutional Investors Weigh In On StepStone Group
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Wells Fargo & Company MN raised its holdings in shares of StepStone Group by 116.8% in the second quarter. Wells Fargo & Company MN now owns 23,938 shares of the company’s stock worth $594,000 after acquiring an additional 12,895 shares during the last quarter. Natixis Advisors L.P. increased its position in StepStone Group by 37.6% during the 2nd quarter. Natixis Advisors L.P. now owns 24,463 shares of the company’s stock worth $607,000 after purchasing an additional 6,685 shares in the last quarter. Walleye Capital LLC lifted its holdings in StepStone Group by 2.2% in the 2nd quarter. Walleye Capital LLC now owns 52,984 shares of the company’s stock valued at $1,315,000 after purchasing an additional 1,124 shares in the last quarter. XTX Topco Ltd acquired a new stake in shares of StepStone Group during the 2nd quarter worth about $359,000. Finally, Point72 Middle East FZE purchased a new stake in shares of StepStone Group during the second quarter worth about $164,000. Hedge funds and other institutional investors own 55.54% of the company’s stock.
About StepStone Group
StepStone Group LP. is an investment firm specializing in direct, fund of funds, secondary direct, and secondary indirect investments. For direct investment, it seeks to invest in venture debt, incubation, mezzanine, distressed/vulture, seed/startup, early venture, mid venture, late venture, emerging growth, later stage, turnaround, growth capital, industry consolidation, recapitalization, private equity and buyout investments in mature and middle market companies.
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