Dynamic Technology Lab Private Ltd purchased a new position in StepStone Group LP (NASDAQ:STEP - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 5,385 shares of the company's stock, valued at approximately $312,000.
Several other institutional investors and hedge funds have also recently made changes to their positions in STEP. Raymond James Financial Inc. purchased a new position in StepStone Group in the fourth quarter worth $46,163,000. Massachusetts Financial Services Co. MA bought a new stake in StepStone Group during the fourth quarter worth about $32,340,000. Vanguard Group Inc. boosted its holdings in shares of StepStone Group by 6.3% in the 4th quarter. Vanguard Group Inc. now owns 6,938,181 shares of the company's stock worth $401,582,000 after purchasing an additional 411,133 shares in the last quarter. CIBC Private Wealth Group LLC increased its position in shares of StepStone Group by 26.8% during the 4th quarter. CIBC Private Wealth Group LLC now owns 1,409,089 shares of the company's stock valued at $85,518,000 after purchasing an additional 297,989 shares during the last quarter. Finally, State Street Corp raised its holdings in shares of StepStone Group by 12.4% during the 3rd quarter. State Street Corp now owns 2,401,034 shares of the company's stock valued at $136,451,000 after buying an additional 265,240 shares in the last quarter. Hedge funds and other institutional investors own 55.54% of the company's stock.
Insider Activity at StepStone Group
In other news, CAO Anthony Keathley sold 538 shares of the stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $63.00, for a total value of $33,894.00. Following the completion of the transaction, the chief accounting officer now owns 1,386 shares of the company's stock, valued at approximately $87,318. This represents a 27.96 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Scott W. Hart sold 10,000 shares of StepStone Group stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $61.43, for a total value of $614,300.00. Following the sale, the chief executive officer now owns 110,000 shares in the company, valued at $6,757,300. This represents a 8.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 18.44% of the stock is currently owned by company insiders.
Analysts Set New Price Targets
A number of brokerages have commented on STEP. Barclays reduced their price target on shares of StepStone Group from $69.00 to $48.00 and set an "equal weight" rating on the stock in a research report on Monday, April 7th. Evercore ISI increased their target price on shares of StepStone Group from $63.00 to $69.00 and gave the company an "outperform" rating in a report on Monday, February 10th. Oppenheimer boosted their price target on shares of StepStone Group from $81.00 to $85.00 and gave the stock an "outperform" rating in a research note on Friday, February 7th. Finally, Morgan Stanley reduced their price objective on StepStone Group from $66.00 to $51.00 and set an "equal weight" rating on the stock in a research note on Monday. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, StepStone Group has an average rating of "Hold" and an average price target of $64.21.
Check Out Our Latest Research Report on STEP
StepStone Group Stock Up 2.9 %
Shares of NASDAQ:STEP traded up $1.35 during midday trading on Tuesday, hitting $48.53. 63,764 shares of the stock traded hands, compared to its average volume of 656,075. The stock has a market capitalization of $5.63 billion, a PE ratio of -28.59 and a beta of 1.36. StepStone Group LP has a one year low of $34.64 and a one year high of $70.38. The business's 50 day moving average is $54.73 and its two-hundred day moving average is $59.36.
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 paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date of this dividend was Friday, February 28th. StepStone Group's payout ratio is -56.80%.
StepStone Group Profile
(
Free Report)
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.
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