Geode Capital Management LLC Buys 216,029 Shares of StepStone Group LP (NASDAQ:STEP)

Geode Capital Management LLC increased its holdings in StepStone Group LP (NASDAQ:STEP - Free Report) by 17.4% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,457,690 shares of the company's stock after purchasing an additional 216,029 shares during the period. Geode Capital Management LLC owned approximately 1.32% of StepStone Group worth $82,856,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its holdings in shares of StepStone Group by 291.1% in the 3rd quarter. GAMMA Investing LLC now owns 618 shares of the company's stock worth $35,000 after buying an additional 460 shares in the last quarter. KBC Group NV boosted its stake in StepStone Group by 35.7% in the 3rd quarter. KBC Group NV now owns 1,840 shares of the company's stock valued at $105,000 after buying an additional 484 shares in the last quarter. CWM LLC grew its position in StepStone Group by 190.4% in the third quarter. CWM LLC now owns 1,185 shares of the company's stock valued at $67,000 after acquiring an additional 777 shares during the period. US Bancorp DE raised its stake in StepStone Group by 442.7% during the third quarter. US Bancorp DE now owns 966 shares of the company's stock worth $55,000 after acquiring an additional 788 shares in the last quarter. Finally, Blue Trust Inc. lifted its holdings in shares of StepStone Group by 1,586.3% during the third quarter. Blue Trust Inc. now owns 860 shares of the company's stock valued at $49,000 after acquiring an additional 809 shares during the period. Institutional investors own 55.54% of the company's stock.

Wall Street Analyst Weigh In

STEP has been the topic of several analyst reports. JPMorgan Chase & Co. upped their target price on shares of StepStone Group from $56.00 to $61.00 and gave the stock an "overweight" rating in a report on Tuesday, October 1st. Barclays decreased their price objective on shares of StepStone Group from $72.00 to $66.00 and set an "equal weight" rating on the stock in a research note on Monday, December 9th. Morgan Stanley lifted their target price on shares of StepStone Group from $60.00 to $65.00 and gave the company an "equal weight" rating in a research note on Thursday, November 14th. UBS Group boosted their target price on StepStone Group from $55.00 to $65.00 and gave the stock a "neutral" rating in a report on Tuesday, October 22nd. Finally, Evercore ISI raised their price target on StepStone Group from $52.00 to $55.00 and gave the company an "outperform" rating in a report on Monday, October 14th. 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 has an average rating of "Hold" and a consensus target price of $66.64.

StepStone Group Stock Down 0.4 %

STEP stock traded down $0.21 during trading on Friday, hitting $58.12. The company had a trading volume of 1,759,462 shares, compared to its average volume of 588,734. The firm has a 50-day moving average price of $62.76 and a 200-day moving average price of $54.67. StepStone Group LP has a 12 month low of $29.17 and a 12 month high of $70.38. The stock has a market cap of $6.69 billion, a price-to-earnings ratio of 96.87 and a beta of 1.27.

StepStone Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 1.65%. The ex-dividend date of this dividend was Friday, November 29th. StepStone Group's dividend payout ratio (DPR) is presently 160.00%.

Insider Activity at StepStone Group

In related news, insider Michael I. Mccabe sold 4,000 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $64.25, for a total value of $257,000.00. Following the transaction, the insider now directly owns 686,516 shares in the company, valued at $44,108,653. This represents a 0.58 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO David Y. Park sold 3,000 shares of the firm's stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $68.21, for a total transaction of $204,630.00. Following the completion of the transaction, the chief financial officer now directly owns 20,251 shares in the company, valued at approximately $1,381,320.71. The trade was a 12.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 29,820 shares of company stock worth $1,908,856 over the last 90 days. Insiders own 18.44% of the company's stock.

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.