New Age Alpha Advisors LLC Makes New $563,000 Investment in StepStone Group LP (NASDAQ:STEP)

New Age Alpha Advisors LLC bought a new stake in StepStone Group LP (NASDAQ:STEP - Free Report) in the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 9,726 shares of the company's stock, valued at approximately $563,000.

A number of other hedge funds have also recently added to or reduced their stakes in STEP. Norges Bank purchased a new position in shares of StepStone Group in the 4th quarter worth approximately $11,543,000. Blair William & Co. IL grew its stake in StepStone Group by 464.2% during the fourth quarter. Blair William & Co. IL now owns 27,979 shares of the company's stock valued at $1,619,000 after acquiring an additional 23,020 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of StepStone Group by 4.7% in the fourth quarter. JPMorgan Chase & Co. now owns 1,711,872 shares of the company's stock worth $99,083,000 after purchasing an additional 77,490 shares during the period. Vanguard Group Inc. raised 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 valued at $401,582,000 after acquiring an additional 411,133 shares in the last quarter. Finally, KLP Kapitalforvaltning AS purchased a new stake in StepStone Group in the fourth quarter valued at approximately $793,000. Institutional investors and hedge funds own 55.54% of the company's stock.

StepStone Group Trading Down 8.0 %

Shares of STEP stock traded down $3.82 on Friday, reaching $43.90. 1,142,820 shares of the company's stock were exchanged, compared to its average volume of 639,610. StepStone Group LP has a 52 week low of $34.64 and a 52 week high of $70.38. The stock has a market capitalization of $5.09 billion, a PE ratio of -25.98 and a beta of 1.36. The company's fifty day simple moving average is $57.63 and its 200 day simple moving average is $59.97.

StepStone Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were paid a $0.24 dividend. The ex-dividend date was Friday, February 28th. This represents a $0.96 annualized dividend and a yield of 2.19%. StepStone Group's dividend payout ratio (DPR) is presently -56.80%.

Insider Buying and Selling

In related news, CAO Anthony Keathley sold 538 shares of the business's stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $63.00, for a total transaction of $33,894.00. Following the transaction, the chief accounting officer now directly owns 1,386 shares in the company, valued at approximately $87,318. The trade was a 27.96 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Scott W. Hart sold 10,000 shares of the firm's stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $61.43, for a total transaction of $614,300.00. Following the sale, the chief executive officer now owns 110,000 shares of the company's stock, valued at $6,757,300. This represents a 8.33 % decrease in their position. The disclosure for this sale can be found here. 18.44% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on STEP. Oppenheimer boosted their price objective on shares of StepStone Group from $81.00 to $85.00 and gave the stock an "outperform" rating in a report on Friday, February 7th. Evercore ISI boosted their price target on shares of StepStone Group from $63.00 to $69.00 and gave the company an "outperform" rating in a research report on Monday, February 10th. Finally, Barclays increased their price objective on StepStone Group from $66.00 to $69.00 and gave the stock an "equal weight" rating in a report on Friday, February 7th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, StepStone Group has a consensus rating of "Hold" and a consensus price target of $69.21.

StepStone Group Company Profile

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.