Bryce Point Capital LLC bought a new stake in shares of StepStone Group LP (NASDAQ:STEP - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 8,885 shares of the company's stock, valued at approximately $514,000.
Several other institutional investors also recently bought and sold shares of the stock. Raymond James Financial Inc. bought a new position in shares of StepStone Group during the 4th quarter valued at about $46,163,000. Massachusetts Financial Services Co. MA bought a new position in StepStone Group during the fourth quarter valued at approximately $32,340,000. Vanguard Group Inc. grew its holdings in StepStone Group by 6.3% during the 4th quarter. Vanguard Group Inc. now owns 6,938,181 shares of the company's stock valued at $401,582,000 after buying an additional 411,133 shares in the last quarter. CIBC Private Wealth Group LLC grew its holdings in 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 buying an additional 297,989 shares in the last quarter. Finally, State Street Corp increased its stake in StepStone Group by 12.4% in the 3rd quarter. State Street Corp now owns 2,401,034 shares of the company's stock worth $136,451,000 after acquiring an additional 265,240 shares during the last quarter. 55.54% of the stock is owned by hedge funds and other institutional investors.
StepStone Group Price Performance
Shares of STEP traded down $1.10 during midday trading on Tuesday, hitting $42.48. The stock had a trading volume of 631,868 shares, compared to its average volume of 647,508. The stock's 50 day moving average is $57.25 and its 200 day moving average is $59.91. The firm has a market cap of $4.93 billion, a PE ratio of -25.16 and a beta of 1.36. StepStone Group LP has a 1 year low of $34.64 and a 1 year high of $70.38.
StepStone Group Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were paid a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 2.26%. The ex-dividend date was Friday, February 28th. StepStone Group's payout ratio is currently -56.80%.
Insider Buying and Selling at StepStone Group
In other news, CEO Scott W. Hart sold 10,000 shares of StepStone Group stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 110,000 shares in the company, valued at approximately $6,757,300. This trade represents a 8.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Anthony Keathley sold 538 shares of the company's stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $63.00, for a total transaction of $33,894.00. Following the completion of the transaction, the chief accounting officer now 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 disclosure for this sale can be found here. Company insiders own 18.44% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research analysts recently weighed in on the stock. Evercore ISI raised 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. Barclays dropped their price objective on shares of StepStone Group from $69.00 to $48.00 and set an "equal weight" rating for the company in a research note on Monday. Finally, Oppenheimer upped their target price on shares of StepStone Group from $81.00 to $85.00 and gave the company an "outperform" rating in a research report on Friday, February 7th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $66.21.
View Our Latest Research Report on STEP
About StepStone Group
(
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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