12,610 Shares in StepStone Group LP (NASDAQ:STEP) Bought by FORA Capital LLC

FORA Capital LLC acquired a new position in StepStone Group LP (NASDAQ:STEP - Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 12,610 shares of the company's stock, valued at approximately $717,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. American International Group Inc. increased its stake in StepStone Group by 1.2% during the 1st quarter. American International Group Inc. now owns 27,152 shares of the company's stock valued at $970,000 after purchasing an additional 322 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in StepStone Group by 150.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 850,463 shares of the company's stock worth $30,396,000 after acquiring an additional 510,283 shares during the last quarter. SG Americas Securities LLC bought a new position in StepStone Group in the 2nd quarter valued at approximately $111,000. Louisiana State Employees Retirement System purchased a new stake in StepStone Group during the 2nd quarter valued at $1,202,000. Finally, Bank of New York Mellon Corp increased its holdings in shares of StepStone Group by 25.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,115,384 shares of the company's stock worth $51,185,000 after purchasing an additional 225,201 shares in the last quarter. Institutional investors own 55.54% of the company's stock.

Insider Activity at StepStone Group

In related news, CAO Anthony Keathley sold 729 shares of the company's stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $68.85, for a total value of $50,191.65. Following the completion of the transaction, the chief accounting officer now owns 2,158 shares of the company's stock, valued at approximately $148,578.30. This represents a 25.25 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO David Y. Park sold 3,000 shares of the firm's stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $68.21, for a total value of $204,630.00. Following the sale, the chief financial officer now directly owns 20,251 shares in the company, valued at approximately $1,381,320.71. This represents a 12.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 18.44% of the stock is owned by company insiders.

StepStone Group Trading Up 0.1 %

STEP stock traded up $0.09 during midday trading on Friday, reaching $65.89. 427,849 shares of the company's stock traded hands, compared to its average volume of 570,282. StepStone Group LP has a 52-week low of $25.06 and a 52-week high of $70.38. The stock has a market cap of $7.59 billion, a P/E ratio of 109.82 and a beta of 1.27. The stock's 50-day moving average is $61.97 and its 200 day moving average is $52.49.

StepStone Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be issued a $0.24 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.96 dividend on an annualized basis and a yield of 1.46%. StepStone Group's dividend payout ratio is currently 160.00%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on STEP. JPMorgan Chase & Co. upped their price target on StepStone Group from $56.00 to $61.00 and gave the company an "overweight" rating in a report on Tuesday, October 1st. The Goldman Sachs Group upped their target price on shares of StepStone Group from $64.00 to $70.50 and gave the company a "neutral" rating in a research note on Tuesday, November 19th. Oppenheimer lifted their price target on shares of StepStone Group from $56.00 to $73.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 16th. Barclays increased their price objective on shares of StepStone Group from $51.00 to $61.00 and gave the company an "equal weight" rating in a research report on Monday, October 7th. Finally, UBS Group lifted their target price on shares of StepStone Group from $55.00 to $65.00 and gave the stock a "neutral" rating in a research report on Tuesday, October 22nd. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $64.36.

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.