Alliancebernstein L.P. Reduces Stock Position in StepStone Group LP (NASDAQ:STEP)

Alliancebernstein L.P. trimmed its stake in shares of StepStone Group LP (NASDAQ:STEP) by 9.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,770,323 shares of the company’s stock after selling 182,334 shares during the period. Alliancebernstein L.P. owned approximately 1.54% of StepStone Group worth $102,466,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Steward Partners Investment Advisory LLC purchased a new stake in StepStone Group during the 4th quarter valued at $27,000. Raleigh Capital Management Inc. purchased a new position in shares of StepStone Group in the 4th quarter worth $29,000. IFP Advisors Inc bought a new stake in shares of StepStone Group in the fourth quarter worth $36,000. Amundi increased its position in StepStone Group by 26.7% during the fourth quarter. Amundi now owns 730 shares of the company’s stock valued at $42,000 after acquiring an additional 154 shares during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in StepStone Group by 36.6% in the fourth quarter. GAMMA Investing LLC now owns 844 shares of the company’s stock valued at $49,000 after acquiring an additional 226 shares during the period. Institutional investors own 55.54% of the company’s stock.

Insiders Place Their Bets

In related news, CAO Anthony Keathley sold 538 shares of the business’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $63.00, for a total value of $33,894.00. Following the sale, the chief accounting officer now owns 1,386 shares in the company, valued at approximately $87,318. The trade was a 27.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Scott W. Hart sold 10,000 shares of the 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 completion of the transaction, the chief executive officer now directly owns 110,000 shares of the company’s stock, 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. 18.44% of the stock is currently owned by corporate insiders.

StepStone Group Stock Performance

Shares of STEP stock opened at $55.61 on Thursday. The stock has a fifty day simple moving average of $58.37 and a two-hundred day simple moving average of $60.08. The firm has a market capitalization of $6.45 billion, a PE ratio of -32.91 and a beta of 1.33. StepStone Group LP has a 52-week low of $33.92 and a 52-week high of $70.38.

StepStone Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were issued a $0.24 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.96 dividend on an annualized basis and a yield of 1.73%. StepStone Group’s dividend payout ratio is presently -56.80%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on STEP shares. Barclays boosted their price target on StepStone Group from $66.00 to $69.00 and gave the company an “equal weight” rating in a research note on Friday, February 7th. Evercore ISI boosted their target price on shares of StepStone Group from $63.00 to $69.00 and gave the company an “outperform” rating in a research report on Monday, February 10th. Finally, Oppenheimer increased their price target on shares of StepStone Group from $81.00 to $85.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target 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.