Janus Henderson Group PLC Decreases Position in StepStone Group LP (NASDAQ:STEP)

Janus Henderson Group PLC lowered its position in StepStone Group LP (NASDAQ:STEP) by 48.6% in the third quarter, HoldingsChannel reports. The institutional investor owned 24,398 shares of the company’s stock after selling 23,083 shares during the period. Janus Henderson Group PLC’s holdings in StepStone Group were worth $1,387,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. GAMMA Investing LLC increased its holdings in StepStone Group by 291.1% during the 3rd quarter. GAMMA Investing LLC now owns 618 shares of the company’s stock valued at $35,000 after acquiring an additional 460 shares in the last quarter. Blue Trust Inc. grew its position in shares of StepStone Group by 1,586.3% in the third quarter. Blue Trust Inc. now owns 860 shares of the company’s stock valued at $49,000 after purchasing an additional 809 shares during the last quarter. US Bancorp DE increased its stake in shares of StepStone Group by 442.7% during the 3rd quarter. US Bancorp DE now owns 966 shares of the company’s stock worth $55,000 after purchasing an additional 788 shares in the last quarter. Harvest Fund Management Co. Ltd acquired a new position in shares of StepStone Group during the 3rd quarter worth approximately $63,000. Finally, CWM LLC lifted its stake in StepStone Group by 190.4% in the 3rd quarter. CWM LLC now owns 1,185 shares of the company’s stock valued at $67,000 after buying an additional 777 shares in the last quarter. Institutional investors and hedge funds own 55.54% of the company’s stock.

Insider Transactions at StepStone Group

In other news, insider Michael I. Mccabe sold 4,000 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $64.25, for a total transaction of $257,000.00. Following the completion of the sale, the insider now owns 686,516 shares in the company, valued at approximately $44,108,653. The trade was a 0.58 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Scott W. Hart sold 22,091 shares of the firm’s 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 completion of the transaction, the chief executive officer now owns 157,909 shares in the company, valued at $9,986,165.16. The trade was a 12.27 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 29,820 shares of company stock worth $1,908,856 in the last ninety days. Insiders own 18.44% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. UBS Group raised their price target on StepStone Group from $55.00 to $65.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. lifted 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. The Goldman Sachs Group upped their target price on shares of StepStone Group from $64.00 to $70.50 and gave the company a “neutral” rating in a report on Tuesday, November 19th. Barclays lowered their price target on shares of StepStone Group from $72.00 to $66.00 and set an “equal weight” rating for the company in a report on Monday, December 9th. Finally, Morgan Stanley boosted 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 report on Thursday, November 14th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $66.64.

StepStone Group Stock Performance

StepStone Group stock opened at $61.95 on Friday. StepStone Group LP has a 1 year low of $28.35 and a 1 year high of $70.38. The firm has a 50 day moving average price of $62.76 and a 200 day moving average price of $54.11. The company has a market cap of $7.13 billion, a price-to-earnings ratio of 103.25 and a beta of 1.27.

StepStone Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were paid a dividend of $0.24 per share. The ex-dividend date was Friday, November 29th. This represents a $0.96 annualized dividend and a dividend yield of 1.55%. StepStone Group’s dividend payout ratio is presently 160.00%.

About StepStone Group

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.