Atria Investments Inc Trims Stake in StepStone Group LP (NASDAQ:STEP)

Atria Investments Inc reduced its position in StepStone Group LP (NASDAQ:STEP) by 17.1% during the fourth quarter, HoldingsChannel.com reports. The firm owned 5,921 shares of the company’s stock after selling 1,221 shares during the period. Atria Investments Inc’s holdings in StepStone Group were worth $343,000 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. Steward Partners Investment Advisory LLC purchased a new stake in StepStone Group in the 4th quarter worth about $27,000. Raleigh Capital Management Inc. purchased a new stake in StepStone Group in the 4th quarter worth about $29,000. IFP Advisors Inc purchased a new stake in StepStone Group in the 4th quarter worth about $36,000. GAMMA Investing LLC raised its position in StepStone Group by 36.6% in the 4th quarter. GAMMA Investing LLC now owns 844 shares of the company’s stock worth $49,000 after purchasing an additional 226 shares during the period. Finally, US Bancorp DE grew its stake in StepStone Group by 442.7% in the 3rd quarter. US Bancorp DE now owns 966 shares of the company’s stock worth $55,000 after acquiring an additional 788 shares in the last quarter. 55.54% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at StepStone Group

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

StepStone Group Trading Up 4.8 %

NASDAQ STEP opened at $53.67 on Monday. The stock has a market capitalization of $6.22 billion, a price-to-earnings ratio of -31.76 and a beta of 1.33. StepStone Group LP has a twelve month low of $33.01 and a twelve month high of $70.38. The stock has a 50-day moving average of $59.88 and a 200 day moving average of $59.98.

StepStone Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.79%. The ex-dividend date was Friday, February 28th. StepStone Group’s payout ratio is -56.80%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on STEP shares. Barclays lifted their target price on StepStone Group from $66.00 to $69.00 and gave the company an “equal weight” rating in a research report on Friday, February 7th. Evercore ISI lifted their target price on StepStone Group from $63.00 to $69.00 and gave the company an “outperform” rating in a research report on Monday, February 10th. The Goldman Sachs Group lifted their target price on StepStone Group from $64.00 to $70.50 and gave the company a “neutral” rating in a research report on Tuesday, November 19th. Finally, Oppenheimer lifted 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. Four equities research 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 stock presently has a consensus rating of “Hold” and an average target price of $69.21.

StepStone Group Company 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.