Cibc World Markets Corp Makes New $355,000 Investment in StepStone Group LP (NASDAQ:STEP)

Cibc World Markets Corp purchased a new stake in shares of StepStone Group LP (NASDAQ:STEP - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 6,142 shares of the company's stock, valued at approximately $355,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Steward Partners Investment Advisory LLC bought a new stake in shares of StepStone Group during the fourth quarter valued at approximately $27,000. Raleigh Capital Management Inc. bought a new stake in StepStone Group in the 4th quarter valued at $29,000. IFP Advisors Inc bought a new stake in StepStone Group in the 4th quarter valued at $36,000. Amundi raised its stake in shares of StepStone Group by 26.7% in the 4th quarter. Amundi now owns 730 shares of the company's stock valued at $42,000 after buying an additional 154 shares in the last quarter. Finally, GAMMA Investing LLC lifted 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 acquiring an additional 226 shares during the period. 55.54% of the stock is owned by institutional investors and hedge funds.

StepStone Group Price Performance

Shares of STEP stock traded down $2.16 during trading hours on Friday, reaching $51.80. 450,503 shares of the company were exchanged, compared to its average volume of 633,257. The company has a market cap of $6.01 billion, a price-to-earnings ratio of -30.65 and a beta of 1.33. The stock's fifty day moving average is $59.10 and its two-hundred day moving average is $59.98. StepStone Group LP has a fifty-two week low of $33.92 and a fifty-two week high of $70.38.

Remove Ads

StepStone Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 1.85%. The ex-dividend date was Friday, February 28th. StepStone Group's dividend payout ratio is -56.80%.

Insider Buying and Selling

In other news, CAO Anthony Keathley sold 538 shares of StepStone Group stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $63.00, for a total transaction of $33,894.00. Following the completion of the sale, the chief accounting officer now owns 1,386 shares in the company, valued at $87,318. The trade was a 27.96 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Scott W. Hart sold 10,000 shares of the 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 completion of the transaction, 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. Corporate insiders own 18.44% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Oppenheimer lifted their price objective on StepStone Group from $81.00 to $85.00 and gave the company an "outperform" rating in a report on Friday, February 7th. Evercore ISI upped their price target on 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 research note on Friday, February 7th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, StepStone Group currently has an average 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.