Geode Capital Management LLC Has $87.34 Million Position in StepStone Group LP (NASDAQ:STEP)

Geode Capital Management LLC increased its position in shares of StepStone Group LP (NASDAQ:STEP - Free Report) by 3.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,508,666 shares of the company's stock after buying an additional 50,976 shares during the period. Geode Capital Management LLC owned about 1.31% of StepStone Group worth $87,341,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the company. Amundi grew its position in StepStone Group by 26.7% during the 4th quarter. Amundi now owns 730 shares of the company's stock worth $42,000 after purchasing an additional 154 shares during the last quarter. Mutual of America Capital Management LLC grew its holdings in shares of StepStone Group by 1.7% during the fourth quarter. Mutual of America Capital Management LLC now owns 9,578 shares of the company's stock worth $554,000 after buying an additional 157 shares during the last quarter. Blue Trust Inc. increased its position in StepStone Group by 25.5% in the 4th quarter. Blue Trust Inc. now owns 1,079 shares of the company's stock valued at $61,000 after acquiring an additional 219 shares during the period. GAMMA Investing LLC raised its stake in StepStone Group by 36.6% during the 4th quarter. GAMMA Investing LLC now owns 844 shares of the company's stock valued at $49,000 after acquiring an additional 226 shares during the last quarter. Finally, Louisiana State Employees Retirement System lifted its position in StepStone Group by 1.0% during the 4th quarter. Louisiana State Employees Retirement System now owns 30,600 shares of the company's stock worth $1,771,000 after acquiring an additional 300 shares during the period. Hedge funds and other institutional investors own 55.54% of the company's stock.

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Analysts Set New Price Targets

A number of research firms recently weighed in on STEP. Morgan Stanley decreased their price target on StepStone Group from $66.00 to $51.00 and set an "equal weight" rating on the stock in a research note on Monday. Barclays reduced their price target on shares of StepStone Group from $69.00 to $48.00 and set an "equal weight" rating for the company in a research report on Monday, April 7th. Oppenheimer boosted their target price on StepStone Group from $81.00 to $85.00 and gave the stock an "outperform" rating in a research report on Friday, February 7th. Finally, Evercore ISI raised 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. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $64.21.

Insider Activity at StepStone Group

In other StepStone Group news, CEO Scott W. Hart sold 10,000 shares of StepStone Group stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $61.43, for a total value of $614,300.00. Following the transaction, the chief executive officer now directly owns 110,000 shares of the company's stock, valued at $6,757,300. The trade was a 8.33 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, 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 value of $33,894.00. Following the sale, the chief accounting officer now directly owns 1,386 shares in the company, valued at $87,318. The trade was a 27.96 % 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.

StepStone Group Stock Performance

Shares of NASDAQ:STEP traded up $0.64 during trading hours on Tuesday, hitting $47.82. 149,459 shares of the company's stock traded hands, compared to its average volume of 656,429. StepStone Group LP has a 52 week low of $34.64 and a 52 week high of $70.38. The company has a market cap of $5.55 billion, a price-to-earnings ratio of -28.30 and a beta of 1.36. The company's fifty day simple moving average is $54.73 and its two-hundred day simple moving average is $59.36.

StepStone Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were paid a $0.24 dividend. The ex-dividend date was Friday, February 28th. This represents a $0.96 annualized dividend and a yield of 2.01%. StepStone Group's dividend payout ratio is presently -56.80%.

StepStone Group 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.