Charles Schwab Investment Management Inc. Raises Stock Position in StepStone Group LP (NASDAQ:STEP)

Charles Schwab Investment Management Inc. grew its position in StepStone Group LP (NASDAQ:STEP - Free Report) by 2.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm 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 approximately 0.53% of StepStone Group worth $35,285,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Steward Partners Investment Advisory LLC bought a new stake in StepStone Group during the 4th quarter valued at approximately $27,000. Raleigh Capital Management Inc. purchased a new position in shares of StepStone Group in the fourth quarter worth $29,000. IFP Advisors Inc bought a new position in shares of StepStone Group during the fourth quarter worth $36,000. GAMMA Investing LLC grew its stake in StepStone Group by 36.6% during the fourth quarter. GAMMA Investing LLC now owns 844 shares of the company's stock valued at $49,000 after acquiring an additional 226 shares in the last quarter. Finally, US Bancorp DE increased its holdings in StepStone Group by 442.7% in the 3rd quarter. US Bancorp DE now owns 966 shares of the company's stock valued at $55,000 after acquiring an additional 788 shares during the last quarter. 55.54% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other StepStone Group news, CEO Scott W. Hart sold 10,000 shares of the company's stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $61.43, for a total transaction of $614,300.00. Following the transaction, the chief executive officer now owns 110,000 shares in the company, valued at approximately $6,757,300. This represents a 8.33 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Anthony Keathley sold 538 shares of the company's stock in a transaction on Wednesday, February 19th. The shares were 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 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 disclosure for this sale can be found here. 18.44% of the stock is currently owned by insiders.

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StepStone Group Stock Up 1.8 %

STEP traded up $0.97 during trading hours on Monday, reaching $54.64. 462,310 shares of the company's stock traded hands, compared to its average volume of 602,448. The firm has a 50-day moving average price of $59.88 and a 200 day moving average price of $59.98. StepStone Group LP has a 52-week low of $33.01 and a 52-week high of $70.38. The firm has a market capitalization of $6.34 billion, a PE ratio of -32.33 and a beta of 1.33.

StepStone Group Announces Dividend

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date of this dividend was Friday, February 28th. StepStone Group's payout ratio is presently -56.80%.

Analysts Set New Price Targets

STEP has been the subject of a number of research analyst reports. Oppenheimer raised their price objective on StepStone Group from $81.00 to $85.00 and gave the company an "outperform" rating in a research report on Friday, February 7th. Barclays upped 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. The Goldman Sachs Group raised their target price on shares of StepStone Group from $64.00 to $70.50 and gave the company a "neutral" rating in a report on Tuesday, November 19th. Finally, Evercore ISI raised their price objective on StepStone Group from $63.00 to $69.00 and gave the company an "outperform" rating in a research note on Monday, February 10th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, StepStone Group has a consensus rating of "Hold" and a consensus price target of $69.21.

About StepStone Group

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.