Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of StepStone Group LP (NASDAQ:STEP - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 5,711 shares of the company's stock, valued at approximately $331,000.
A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Amundi raised its stake in StepStone Group by 26.7% in the 4th quarter. Amundi now owns 730 shares of the company's stock worth $42,000 after purchasing an additional 154 shares in the last quarter. Mutual of America Capital Management LLC raised its position in shares of StepStone Group by 1.7% in the fourth quarter. Mutual of America Capital Management LLC now owns 9,578 shares of the company's stock valued at $554,000 after buying an additional 157 shares in the last quarter. Blue Trust Inc. boosted its stake in shares of StepStone Group by 25.5% in the fourth quarter. Blue Trust Inc. now owns 1,079 shares of the company's stock valued at $61,000 after buying an additional 219 shares during the period. GAMMA Investing LLC grew its position in StepStone Group by 36.6% during the fourth quarter. GAMMA Investing LLC now owns 844 shares of the company's stock worth $49,000 after buying an additional 226 shares in the last quarter. Finally, Louisiana State Employees Retirement System raised its holdings in StepStone Group by 1.0% in the 4th quarter. Louisiana State Employees Retirement System now owns 30,600 shares of the company's stock valued at $1,771,000 after acquiring an additional 300 shares in the last quarter. Institutional investors and hedge funds own 55.54% of the company's stock.
StepStone Group Trading Down 2.5 %
StepStone Group stock traded down $1.37 during mid-day trading on Thursday, reaching $53.96. The company had a trading volume of 311,933 shares, compared to its average volume of 614,596. The business has a fifty day simple moving average of $59.25 and a 200 day simple moving average of $60.02. The company has a market cap of $6.26 billion, a P/E ratio of -31.93 and a beta of 1.33. StepStone Group LP has a fifty-two week low of $33.92 and a fifty-two week high of $70.38.
StepStone Group Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were given a $0.24 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.96 annualized dividend and a yield of 1.78%. StepStone Group's dividend payout ratio is presently -56.80%.
Wall Street Analysts Forecast Growth
Several research firms have recently issued reports on STEP. Evercore ISI increased their target price on StepStone Group from $63.00 to $69.00 and gave the stock an "outperform" rating in a report on Monday, February 10th. Oppenheimer raised their target price on shares of StepStone Group from $81.00 to $85.00 and gave the company an "outperform" rating in a report on Friday, February 7th. Finally, Barclays upped their price target on shares of StepStone Group from $66.00 to $69.00 and gave the stock an "equal weight" rating in a report on Friday, February 7th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $69.21.
Read Our Latest Stock Analysis on StepStone Group
Insider Activity
In other news, CAO Anthony Keathley sold 538 shares of StepStone Group stock in a transaction 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Scott W. Hart sold 10,000 shares of the stock in a transaction on Thursday, February 20th. The shares were 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 $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. Insiders own 18.44% of the company's stock.
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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