Everence Capital Management Inc. Sells 430 Shares of StepStone Group LP (NASDAQ:STEP)

Everence Capital Management Inc. reduced its holdings in shares of StepStone Group LP (NASDAQ:STEP) by 7.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,670 shares of the company’s stock after selling 430 shares during the quarter. Everence Capital Management Inc.’s holdings in StepStone Group were worth $328,000 at the end of the most recent reporting period.

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

StepStone Group Price Performance

NASDAQ:STEP opened at $60.66 on Tuesday. The company has a market cap of $6.99 billion, a P/E ratio of 101.10 and a beta of 1.31. The firm’s fifty day moving average price is $62.51 and its two-hundred day moving average price is $56.07. StepStone Group LP has a one year low of $30.56 and a one year high of $70.38.

StepStone Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were paid a $0.24 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.96 dividend on an annualized basis and a yield of 1.58%. StepStone Group’s dividend payout ratio (DPR) is currently 160.00%.

Insider Buying and Selling at StepStone Group

In related news, CAO Anthony Keathley sold 729 shares of the business’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $68.85, for a total value of $50,191.65. Following the completion of the sale, the chief accounting officer now directly owns 2,158 shares in the company, valued at $148,578.30. The trade was a 25.25 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Michael I. Mccabe sold 4,000 shares of the stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $64.25, for a total value of $257,000.00. Following the transaction, the insider now owns 686,516 shares in the company, valued at $44,108,653. The trade was a 0.58 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 29,820 shares of company stock valued at $1,908,856 in the last three months. 18.44% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages recently commented on STEP. Barclays reduced their price target on StepStone Group from $72.00 to $66.00 and set an “equal weight” rating for the company in a research report on Monday, December 9th. The Goldman Sachs Group increased their price objective on StepStone Group from $64.00 to $70.50 and gave the company a “neutral” rating in a report on Tuesday, November 19th. UBS Group boosted their target price on shares of StepStone Group from $55.00 to $65.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. Evercore ISI increased their price target on shares of StepStone Group from $52.00 to $55.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Finally, Oppenheimer boosted their price objective on shares of StepStone Group from $73.00 to $84.00 and gave the stock an “outperform” rating in a research note on Thursday, December 12th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $66.64.

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.