Nuveen Asset Management LLC Trims Stock Position in StepStone Group Inc. (NASDAQ:STEP)

Nuveen Asset Management LLC lessened its stake in shares of StepStone Group Inc. (NASDAQ:STEP – Get Rating) by 23.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 440,284 shares of the company’s stock after selling 137,930 shares during the quarter. Nuveen Asset Management LLC owned about 0.41% of StepStone Group worth $10,791,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Point72 Hong Kong Ltd purchased a new stake in shares of StepStone Group during the 1st quarter worth approximately $36,000. Captrust Financial Advisors increased its holdings in shares of StepStone Group by 5,132.1% in the 2nd quarter. Captrust Financial Advisors now owns 1,465 shares of the company’s stock valued at $38,000 after acquiring an additional 1,437 shares during the period. Tower Research Capital LLC TRC increased its holdings in shares of StepStone Group by 223.5% in the 3rd quarter. Tower Research Capital LLC TRC now owns 6,476 shares of the company’s stock valued at $159,000 after acquiring an additional 4,474 shares during the period. PNC Financial Services Group Inc. increased its holdings in shares of StepStone Group by 21.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 7,535 shares of the company’s stock valued at $250,000 after acquiring an additional 1,332 shares during the period. Finally, Versor Investments LP increased its holdings in shares of StepStone Group by 6.2% in the 3rd quarter. Versor Investments LP now owns 10,090 shares of the company’s stock valued at $247,000 after acquiring an additional 590 shares during the period. Hedge funds and other institutional investors own 93.82% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on STEP shares. Barclays cut their target price on shares of StepStone Group from $29.00 to $28.00 and set an “equal weight” rating on the stock in a report on Monday, December 19th. Morgan Stanley cut their target price on shares of StepStone Group from $31.00 to $30.00 and set an “equal weight” rating on the stock in a report on Monday, February 13th. The Goldman Sachs Group boosted their price objective on shares of StepStone Group from $29.00 to $33.00 and gave the company a “neutral” rating in a research note on Friday, February 10th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of StepStone Group from $37.00 to $36.00 and set a “neutral” rating on the stock in a research note on Monday, February 13th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, StepStone Group has a consensus rating of “Hold” and a consensus price target of $33.80.

StepStone Group Stock Up 1.4 %

NASDAQ:STEP opened at $28.58 on Thursday. StepStone Group Inc. has a fifty-two week low of $22.39 and a fifty-two week high of $35.16. The stock has a market cap of $3.12 billion, a PE ratio of -357.25 and a beta of 1.44. The firm’s fifty day simple moving average is $28.37 and its 200-day simple moving average is $28.07.

StepStone Group (NASDAQ:STEP – Get Rating) last posted its quarterly earnings results on Thursday, February 9th. The company reported $0.27 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.27. The company had revenue of $148.10 million for the quarter, compared to analyst estimates of $142.15 million. During the same period last year, the company earned $0.42 earnings per share. The business’s revenue for the quarter was down 14.4% compared to the same quarter last year. Equities analysts anticipate that StepStone Group Inc. will post 1.28 earnings per share for the current year.

StepStone Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 15th. Investors of record on Tuesday, February 28th will be given a $0.20 dividend. The ex-dividend date is Monday, February 27th. This represents a $0.80 annualized dividend and a dividend yield of 2.80%. StepStone Group’s dividend payout ratio is presently -1,000.00%.

Insider Buying and Selling

In related news, Director Thomas Keck sold 76,335 shares of the business’s stock in a transaction dated Thursday, February 2nd. The shares were sold at an average price of $30.74, for a total value of $2,346,537.90. Following the sale, the director now directly owns 428,803 shares in the company, valued at approximately $13,181,404.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CAO David Y. Park sold 3,000 shares of the business’s stock in a transaction dated Thursday, December 15th. The shares were sold at an average price of $27.40, for a total value of $82,200.00. Following the sale, the chief accounting officer now directly owns 27,231 shares in the company, valued at approximately $746,129.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Thomas Keck sold 76,335 shares of the company’s stock in a transaction dated Thursday, February 2nd. The shares were sold at an average price of $30.74, for a total transaction of $2,346,537.90. Following the completion of the transaction, the director now owns 428,803 shares in the company, valued at $13,181,404.22. The disclosure for this sale can be found here. Insiders have sold 121,075 shares of company stock worth $3,687,457 in the last three months. Corporate insiders own 20.01% of the company’s stock.

About StepStone Group

(Get Rating)

StepStone Group Inc 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, and buyout investments in mature and middle market companies.