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Top Buys by Top Brass: Head of Strategy McCabe's $2.2M Bet on STEPBy Dividend Channel Staff, Friday, December 1, 10:41 AM ETA company's own top management tend to have the best inside view into the business, so when company officers make major buys, investors are wise to take notice. Presumably the only reason an insider would take their hard-earned cash and use it to buy stock of their company in the open market, is that they expect to make money — maybe they find the stock very undervalued, or maybe they see exciting progress within the company, or maybe both. So in this series we look at the largest insider buys by the ''top brass'' over the trailing six month period, one of which was a total of $2.2M by Michael I. McCabe, Head of Strategy at StepStone Group Inc (NASDAQ:STEP). McCabe bets big on STEP:
McCabe's average cost works out to $23.31/share. Shares of StepStone Group Inc were changing hands at $25.61 at last check, trading off about 0.9% on Friday. The chart below shows the one year performance of STEP shares, versus its 200 day moving average:
Looking at the chart above, STEP's low point in its 52 week range is $19.83 per share, with $32.385 as the 52 week high point — that compares with a last trade of $25.61. The current annualized dividend paid by StepStone Group Inc is $0.84/share, currently paid in quarterly installments, and its most recent dividend ex-date was on 11/29/2023. Below is a long-term dividend history chart for STEP, which can be of good help in judging whether the most recent dividend with approx. 3.3% annualized yield is likely to continue.
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