StepStone Group Inc. $STEP Shares Sold by Segall Bryant & Hamill LLC

Segall Bryant & Hamill LLC trimmed its stake in StepStone Group Inc. (NASDAQ:STEP) by 4.9% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 256,294 shares of the company’s stock after selling 13,277 shares during the quarter. Segall Bryant & Hamill LLC owned approximately 0.22% of StepStone Group worth $12,230,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. William Blair Investment Management LLC raised its position in shares of StepStone Group by 7.4% in the fourth quarter. William Blair Investment Management LLC now owns 670,192 shares of the company’s stock valued at $43,006,000 after buying an additional 46,273 shares during the last quarter. Rockefeller Capital Management L.P. boosted its position in StepStone Group by 24.7% during the fourth quarter. Rockefeller Capital Management L.P. now owns 258,448 shares of the company’s stock worth $16,585,000 after acquiring an additional 51,125 shares during the last quarter. Hsbc Holdings PLC purchased a new stake in StepStone Group in the 1st quarter worth approximately $3,898,000. Millennium Management LLC grew its stake in StepStone Group by 14.4% in the 4th quarter. Millennium Management LLC now owns 4,456,150 shares of the company’s stock worth $285,951,000 after acquiring an additional 561,176 shares during the period. Finally, Geode Capital Management LLC raised its holdings in StepStone Group by 3.1% in the 4th quarter. Geode Capital Management LLC now owns 1,776,677 shares of the company’s stock valued at $114,028,000 after acquiring an additional 52,713 shares during the last quarter. 55.54% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

STEP has been the subject of a number of recent analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of StepStone Group in a research report on Monday, July 20th. Barclays reduced their target price on StepStone Group from $62.00 to $60.00 and set an “overweight” rating on the stock in a research report on Thursday, July 9th. Evercore reissued an “outperform” rating and issued a $60.00 price target on shares of StepStone Group in a research note on Thursday, May 21st. BMO Capital Markets lowered their price target on StepStone Group from $62.00 to $50.00 and set an “outperform” rating for the company in a report on Monday, July 13th. Finally, Oppenheimer dropped their price objective on shares of StepStone Group from $90.00 to $85.00 and set an “outperform” rating for the company in a research note on Thursday, May 21st. Seven research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, StepStone Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $69.00.

StepStone Group Stock Performance

STEP stock opened at $43.86 on Monday. The stock has a 50-day moving average price of $44.25 and a two-hundred day moving average price of $51.12. StepStone Group Inc. has a 12-month low of $38.85 and a 12-month high of $77.79. The company has a market cap of $5.23 billion, a PE ratio of -6.45 and a beta of 1.27.

StepStone Group (NASDAQ:STEP) last released its quarterly earnings data on Wednesday, May 20th. The company reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.06. StepStone Group had a positive return on equity of 37.69% and a negative net margin of 26.88%.The company had revenue of $305.84 million for the quarter, compared to the consensus estimate of $292.11 million. During the same period last year, the business posted $0.68 EPS. The company’s quarterly revenue was up 3.4% compared to the same quarter last year. Equities analysts forecast that StepStone Group Inc. will post 2.54 EPS for the current fiscal year.

StepStone Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend was Monday, June 15th. StepStone Group’s payout ratio is -16.47%.

Insider Activity at StepStone Group

In other StepStone Group news, insider Michael I. Mccabe bought 120,000 shares of the business’s stock in a transaction dated Thursday, June 11th. The shares were acquired at an average price of $41.85 per share, with a total value of $5,022,000.00. Following the purchase, the insider owned 433,178 shares in the company, valued at approximately $18,128,499.30. The trade was a 38.32% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Jose A. Fernandez sold 2,290 shares of StepStone Group stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $42.64, for a total transaction of $97,645.60. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 15.70% of the stock is owned by insiders.

StepStone Group Profile

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.