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Truist Financial Corp sells 22,549 StepStone Group Inc. shares (NASDAQ:STEP)

Truist Financial Corp sells 22,549 StepStone Group Inc. shares (NASDAQ:STEP)

According to the most recent filing Trust Financial Corp. made with the Securities and Exchange Commission (SEC), the company decreased its stake in StepStone Group Inc. (NASDAQ: STEP) by 19.9% during the third quarter of the fiscal year. As a result of the sale of 22,549 shares during the period, the fund’s total holdings of the company’s stock amounted to 90,490 shares at the end of the period. At the end of the most recent reporting period, Trust Financial Corp. held approximately 0.08% of StepStone Group, valued at $2,218,000.

In addition, the positions that the company’s other institutional investors hold have been subjected to alterations. Point72 Hong Kong Ltd. invested approximately $36,000 over the first three months of 2018 to purchase additional shareholdings in StepStone Group. Captrust Financial Advisors achieved a 5,132.1% increase in the proportion of StepStone Group stock owned by the end of the second quarter. Over time, Captrust Financial Advisors purchased an additional 1,437 shares of the company’s stock, bringing their total ownership to 1,465 shares, which have a value of $38,000. This brought their total stock ownership in the company to $38,000.StepStone Group now has LS Investment Advisors LLC’s full ownership thanks to an additional investment of approximately $71,000 made during the second quarter. This brings LS Investment Advisors LLC’s total investment to 100%. CX Institutional spent approximately 159,000 dollars during the second quarter to increase its stake in StepStone Group by purchasing a larger portion of its stock. And finally, during the second quarter, Versor Investments LP completed a 25.6% increase in the proportion of StepStone Group in which it holds investments. After purchasing an additional 1,939 shares of the company’s stock during the period, Versor Investments LP now owns a total of 9,500 shares of the corporation’s stock, which is $247,000. The company’s equity is owned by institutions to 93.82%, making up 93.82% of the total equity.

On Monday, the first day of trading for STEP, the price was $28.75. The stock’s moving average over the previous fifty days is $28.19; over the previous two hundred days, it is $27.50. The company’s P/E ratio is 33.43, its PEG ratio is 2.34, and its beta value is 1.40. The market capitalization of the company is $3.13 billion. StepStone Group Inc. hit a low point over the past 52 weeks of $22.39, while the company reached a high point over the past 52 weeks of $41.19.

On November 3, the most recent quarterly earnings report for StepStone Group (NASDAQ: STEP) was made available for the general public to review. The company’s earnings per share for the period were $0.33, which was $0.05 higher than the consensus expectation of $0.28 per share. The actual revenue that the company brought in during the quarter was $150.60 million, which was higher than the consensus estimate of $139.71 million that market analysts had for the period’s sales. Experts in finance forecast that StepStone Group Inc. will generate earnings of 1.3 cents per share in this fiscal year.

In addition, the business recently announced a quarterly dividend, which was paid out on December 15. On November 30, dividend payments of $0.20 were made to shareholders with their record information. The dividend was disbursed to shareholders on November 29 (a Tuesday), which was the month in question. This equates to an annual dividend payment of $0.80 and a dividend yield of 2.78% for the stock. The StepStone Group’s dividend payout ratio has currently reached 93.02 percent.

Several market analysts and professionals engaged in equity research have provided recent commentary on STEP shares. Barclays lowered their price objective on StepStone Group from $29.00 to $28.00 in a report made public on Monday, December 19. The brokerage firm also assigned the stock an “equal weight” rating. In a research report published on November 7, Morgan Stanley rated the stock as “equal weight” and increased their price target on StepStone Group from $29.00 to $30.00. The report also stated that the price target was raised from $29.00 to $30.00. Four equity research specialists have assigned the stock the rating of “hold,” while the remaining specialist has assigned the stock the rating of “buy.” The data from Bloomberg.com indicates that the current recommendation for StepStone Group is “Hold,” The website has a consensus price objective of $33.90 for the stock.

On November 8, James Lim, who holds a significant position in StepStone Group, sold 30,000 shares of the company’s stock. The transaction took place on the same day. Due to the stock being sold at an average price of $29.65 per share, the total amount of money made from the sale was $889,500.00. After the deal’s completion, the corporate insider owns 7,383,886 shares. These shares have a market value of approximately $218,932,219,90. A document containing the information given to the Securities and Exchange Commission regarding the transaction can be found on this website. The document contains all of the information that was given to the SEC. On November 8, James Lim, a person with a significant stake in the company, sold 30,000 of the company’s shares of stock. Due to the stock being sold at an average price of $29.65 per share, the total amount of money made from the sale was $889,500.00. Following the conclusion of the transaction, the corporate insider now directly owns 7,383,886 shares of the company’s stock. These shares have a market value that is approximately equivalent to $218,932,219,90. The Securities and Exchange Commission was given legal documents about the transaction, which were subsequently uploaded to the SEC website after being provided to the SEC.

On top of that, the Chief Administrative Officer, David Y. Park, completed a transaction on Thursday, December 15, in which he sold 3,000 shares of the company’s stock. The stock was bought and sold for a total value of $82,200.00, with the average price per share coming in at $27.40. This resulted in revenue for the company. Following the completion of the transaction, the Chief Accounting Officer will have a direct ownership stake in 27,231 shares of the company’s stock, which will have an estimated value of $746,129.40 at the time of this writing. The disclosure regarding the sale may be found in this section. Over the past three months, employees and directors of the company have sold a total of 469,612 shares of company stock for $14,148,577. Corporate insiders hold an ownership stake in the company that amounts to 20.01% of the total shares.

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