StepStone Group Inc. $STEP Shares Sold by Bryce Point Capital LLC

Bryce Point Capital LLC cut its position in StepStone Group Inc. (NASDAQ:STEP) by 49.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,378 shares of the company’s stock after selling 9,241 shares during the period. Bryce Point Capital LLC’s holdings in StepStone Group were worth $612,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. Royal Bank of Canada lifted its holdings in StepStone Group by 72.6% in the 1st quarter. Royal Bank of Canada now owns 9,135 shares of the company’s stock valued at $477,000 after purchasing an additional 3,843 shares in the last quarter. AQR Capital Management LLC lifted its stake in shares of StepStone Group by 6.5% in the first quarter. AQR Capital Management LLC now owns 14,904 shares of the company’s stock worth $778,000 after buying an additional 908 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in StepStone Group by 6.0% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 39,602 shares of the company’s stock worth $2,068,000 after acquiring an additional 2,238 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in StepStone Group by 21.6% during the first quarter. Goldman Sachs Group Inc. now owns 357,281 shares of the company’s stock worth $18,661,000 after acquiring an additional 63,519 shares during the last quarter. Finally, United Services Automobile Association purchased a new stake in StepStone Group during the 1st quarter valued at about $209,000. 55.54% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other StepStone Group news, insider Michael I. Mccabe sold 74,214 shares of the business’s stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $66.14, for a total transaction of $4,908,513.96. Following the sale, the insider directly owned 122,209 shares in the company, valued at $8,082,903.26. This represents a 37.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Scott W. Hart sold 10,000 shares of the stock in a transaction dated Monday, January 26th. The stock was sold at an average price of $72.52, for a total transaction of $725,200.00. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 292,454 shares of company stock valued at $19,099,334. 16.47% of the stock is currently owned by corporate insiders.

StepStone Group Price Performance

NASDAQ STEP opened at $62.55 on Tuesday. The stock has a market capitalization of $7.40 billion, a P/E ratio of -9.01 and a beta of 1.32. The firm’s 50-day moving average is $67.67 and its two-hundred day moving average is $64.09. StepStone Group Inc. has a 12 month low of $40.07 and a 12 month high of $77.79.

StepStone Group (NASDAQ:STEP) last issued its quarterly earnings data on Thursday, February 5th. The company reported $0.65 EPS for the quarter, topping the consensus estimate of $0.60 by $0.05. The firm had revenue of $241.13 million for the quarter, compared to analyst estimates of $363.92 million. StepStone Group had a negative net margin of 30.66% and a positive return on equity of 31.44%. The business’s revenue for the quarter was up 102.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.44 EPS. As a group, analysts anticipate that StepStone Group Inc. will post 1.82 EPS for the current year.

StepStone Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Stockholders of record on Friday, February 27th will be given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 1.8%. The ex-dividend date is Friday, February 27th. StepStone Group’s dividend payout ratio (DPR) is currently -16.14%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on STEP shares. Morgan Stanley set a $72.00 target price on shares of StepStone Group in a research note on Tuesday, January 27th. Evercore set a $73.00 price objective on StepStone Group in a research note on Friday. Weiss Ratings reiterated a “sell (d+)” rating on shares of StepStone Group in a report on Thursday, January 22nd. Evercore ISI set a $73.00 price objective on shares of StepStone Group in a report on Friday. Finally, Wall Street Zen raised shares of StepStone Group from a “sell” rating to a “hold” rating in a research note on Saturday, January 10th. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, StepStone Group currently has an average rating of “Moderate Buy” and a consensus price target of $79.63.

About StepStone Group

StepStone Group is a global private markets investment firm that provides specialized investment solutions across private equity, private credit and real assets. The firm offers customized portfolios, secondary interests, direct co-investments and tailored advisory services to institutional investors worldwide. StepStone’s integrated research and data analytics platform supports its investment teams in sourcing opportunities and monitoring portfolio companies.

Founded in 2007 as an independent private markets specialist, the company has grown its presence through both organic expansion and strategic partnerships.