UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 10,446 Shares of StepStone Group LP (NASDAQ:STEP)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its position in shares of StepStone Group LP (NASDAQ:STEP) by 10.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 93,347 shares of the company’s stock after selling 10,446 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.08% of StepStone Group worth $5,305,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in STEP. FMR LLC increased its stake in StepStone Group by 3.7% during the 3rd quarter. FMR LLC now owns 3,999,819 shares of the company’s stock worth $227,310,000 after purchasing an additional 141,637 shares in the last quarter. Bank of New York Mellon Corp lifted 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 acquiring an additional 225,201 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in StepStone Group by 8.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 800,909 shares of the company’s stock valued at $36,753,000 after buying an additional 60,339 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in StepStone Group by 16.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 596,851 shares of the company’s stock valued at $33,919,000 after purchasing an additional 84,762 shares during the period. Finally, Principal Financial Group Inc. increased its stake in StepStone Group by 43.3% during the 3rd quarter. Principal Financial Group Inc. now owns 417,845 shares of the company’s stock worth $23,746,000 after acquiring an additional 126,315 shares during the period. Institutional investors own 55.54% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. JPMorgan Chase & Co. upped their price objective on StepStone Group from $56.00 to $61.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 1st. Morgan Stanley increased 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 raised their price objective on shares of StepStone Group from $56.00 to $73.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Barclays decreased their price objective on StepStone Group from $72.00 to $66.00 and set an “equal weight” rating for the company in a report on Monday. Finally, UBS Group raised their target price on StepStone Group from $55.00 to $65.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $65.07.

Insider Activity at StepStone Group

In other news, CEO Scott W. Hart sold 22,091 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $63.24, for a total transaction of $1,397,034.84. Following the sale, the chief executive officer now owns 157,909 shares in the company, valued at $9,986,165.16. This represents a 12.27 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Anthony Keathley sold 729 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $68.85, for a total transaction of $50,191.65. Following the transaction, the chief accounting officer now directly owns 2,158 shares of the company’s stock, valued at $148,578.30. The trade was a 25.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 29,820 shares of company stock worth $1,908,856 over the last quarter. Corporate insiders own 18.44% of the company’s stock.

StepStone Group Stock Performance

Shares of NASDAQ:STEP opened at $61.96 on Thursday. The firm has a market capitalization of $7.14 billion, a PE ratio of 100.17 and a beta of 1.27. StepStone Group LP has a 52-week low of $25.88 and a 52-week high of $70.38. The firm has a fifty day moving average of $62.63 and a 200 day moving average of $53.86.

StepStone Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be issued a dividend of $0.24 per share. The ex-dividend date is Friday, November 29th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.55%. StepStone Group’s dividend payout ratio is currently 160.00%.

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.