Charles Schwab Investment Management Inc. grew its holdings in StepStone Group LP (NASDAQ:STEP - Free Report) by 2.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 609,619 shares of the company's stock after purchasing an additional 12,768 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.53% of StepStone Group worth $35,285,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Steward Partners Investment Advisory LLC bought a new stake in shares of StepStone Group in the fourth quarter valued at about $27,000. Raleigh Capital Management Inc. acquired a new position in StepStone Group in the 4th quarter valued at approximately $29,000. IFP Advisors Inc bought a new stake in shares of StepStone Group in the 4th quarter worth approximately $36,000. GAMMA Investing LLC grew its holdings in shares of StepStone Group by 36.6% during the 4th quarter. GAMMA Investing LLC now owns 844 shares of the company's stock worth $49,000 after purchasing an additional 226 shares in the last quarter. Finally, US Bancorp DE grew its holdings in shares of StepStone Group by 442.7% during the 3rd quarter. US Bancorp DE now owns 966 shares of the company's stock worth $55,000 after purchasing an additional 788 shares in the last quarter. 55.54% of the stock is owned by institutional investors and hedge funds.
StepStone Group Trading Down 1.2 %
STEP stock traded down $0.67 during trading on Thursday, hitting $55.18. 355,401 shares of the stock traded hands, compared to its average volume of 603,525. The stock has a market cap of $6.40 billion, a price-to-earnings ratio of -32.70 and a beta of 1.33. StepStone Group LP has a one year low of $33.66 and a one year high of $70.38. The company has a 50 day simple moving average of $59.58 and a 200 day simple moving average of $59.96.
StepStone Group Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were issued a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 1.74%. The ex-dividend date was Friday, February 28th. StepStone Group's payout ratio is currently -56.80%.
Insider Buying and Selling
In other news, CAO Anthony Keathley sold 538 shares of StepStone Group stock in a transaction 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 sale, the chief accounting officer now directly owns 1,386 shares of the company's stock, valued at approximately $87,318. This trade represents a 27.96 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Scott W. Hart sold 10,000 shares of StepStone Group stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $61.43, for a total value of $614,300.00. Following the completion of the sale, the chief executive officer now owns 110,000 shares of the company's stock, valued at approximately $6,757,300. The trade was 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 owned by corporate insiders.
Wall Street Analysts Forecast Growth
Several research analysts recently commented on the company. Evercore ISI raised their target price on StepStone Group from $63.00 to $69.00 and gave the stock an "outperform" rating in a research report on Monday, February 10th. Oppenheimer increased their price objective on shares of StepStone Group from $81.00 to $85.00 and gave the company an "outperform" rating in a research note on Friday, February 7th. Finally, Barclays lifted their target price on shares of StepStone Group from $66.00 to $69.00 and gave the company an "equal weight" rating in a research report on Friday, February 7th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, StepStone Group has a consensus rating of "Hold" and a consensus price target of $69.21.
Check Out Our Latest Stock Report on StepStone Group
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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