Segall Bryant & Hamill LLC Cuts Holdings in StepStone Group LP (NASDAQ:STEP)

Segall Bryant & Hamill LLC reduced its position in StepStone Group LP (NASDAQ:STEP) by 1.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 118,229 shares of the company’s stock after selling 1,586 shares during the period. Segall Bryant & Hamill LLC owned 0.10% of StepStone Group worth $6,843,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in STEP. Vanguard Group Inc. boosted its position in shares of StepStone Group by 6.3% during the 4th quarter. Vanguard Group Inc. now owns 6,938,181 shares of the company’s stock valued at $401,582,000 after acquiring an additional 411,133 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new stake in StepStone Group during the fourth quarter valued at $793,000. Sei Investments Co. lifted its position in StepStone Group by 9.8% during the fourth quarter. Sei Investments Co. now owns 84,687 shares of the company’s stock valued at $4,902,000 after purchasing an additional 7,524 shares during the last quarter. Quantbot Technologies LP bought a new stake in shares of StepStone Group in the 4th quarter worth about $3,727,000. Finally, Summit Global Investments bought a new stake in shares of StepStone Group in the 4th quarter worth about $547,000. 55.54% of the stock is owned by institutional investors.

StepStone Group Stock Down 3.2 %

STEP opened at $55.33 on Thursday. The business has a fifty day moving average of $59.25 and a 200 day moving average of $60.02. StepStone Group LP has a 52-week low of $33.92 and a 52-week high of $70.38. The stock has a market cap of $6.42 billion, a P/E ratio of -32.74 and a beta of 1.33.

StepStone Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.74%. The ex-dividend date was Friday, February 28th. StepStone Group’s payout ratio is presently -56.80%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on STEP. Barclays lifted their price target on StepStone Group from $66.00 to $69.00 and gave the stock an “equal weight” rating in a research report on Friday, February 7th. Oppenheimer boosted their target price on StepStone Group from $81.00 to $85.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Finally, Evercore ISI raised their price target on StepStone Group from $63.00 to $69.00 and gave the stock an “outperform” rating in a research report on Monday, February 10th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $69.21.

Insider Buying and Selling

In other news, CEO Scott W. Hart sold 10,000 shares of StepStone Group stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $61.43, for a total transaction of $614,300.00. Following the completion of the sale, the chief executive officer now owns 110,000 shares of the company’s stock, valued at approximately $6,757,300. The trade was a 8.33 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Anthony Keathley sold 538 shares of the stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $63.00, for a total value of $33,894.00. Following the completion of the transaction, the chief accounting officer now directly owns 1,386 shares in the company, valued at approximately $87,318. This trade represents a 27.96 % decrease in their position. The disclosure for this sale can be found here. 18.44% of the stock is currently owned by insiders.

StepStone Group 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.