StepStone Group LP (NASDAQ:STEP) Shares Acquired by Grantham Mayo Van Otterloo & Co. LLC

Grantham Mayo Van Otterloo & Co. LLC lifted its holdings in StepStone Group LP (NASDAQ:STEP - Free Report) by 4.2% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 702,767 shares of the company's stock after purchasing an additional 28,594 shares during the period. Grantham Mayo Van Otterloo & Co. LLC owned approximately 0.61% of StepStone Group worth $40,676,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of StepStone Group by 6.3% during the fourth quarter. Vanguard Group Inc. now owns 6,938,181 shares of the company's stock worth $401,582,000 after buying an additional 411,133 shares in the last quarter. State Street Corp raised its stake in StepStone Group by 12.4% in the third quarter. State Street Corp now owns 2,401,034 shares of the company's stock valued at $136,451,000 after buying an additional 265,240 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in StepStone Group by 4.7% in the fourth quarter. JPMorgan Chase & Co. now owns 1,711,872 shares of the company's stock valued at $99,083,000 after purchasing an additional 77,490 shares in the last quarter. Geode Capital Management LLC grew its position in shares of StepStone Group by 3.5% in the 4th quarter. Geode Capital Management LLC now owns 1,508,666 shares of the company's stock valued at $87,341,000 after buying an additional 50,976 shares during the last quarter. Finally, CIBC Private Wealth Group LLC increased its position in shares of StepStone Group by 26.8% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,409,089 shares of the company's stock worth $85,518,000 after purchasing an additional 297,989 shares in the last quarter. 55.54% of the stock is owned by hedge funds and other institutional investors.

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Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on STEP. Oppenheimer raised their target price on shares of StepStone Group from $81.00 to $85.00 and gave the stock an "outperform" rating in a research report on Friday, February 7th. Barclays lowered their price objective on shares of StepStone Group from $69.00 to $48.00 and set an "equal weight" rating on the stock in a research report on Monday. Finally, Evercore ISI lifted their price objective on shares of StepStone Group from $63.00 to $69.00 and gave the company an "outperform" rating in a research note on Monday, February 10th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $66.21.

StepStone Group Price Performance

Shares of STEP stock traded down $3.61 during mid-day trading on Thursday, hitting $45.13. The stock had a trading volume of 288,916 shares, compared to its average volume of 654,678. The firm has a market cap of $5.23 billion, a PE ratio of -26.48 and a beta of 1.36. The company's 50-day simple moving average is $55.76 and its 200-day simple moving average is $59.56. StepStone Group LP has a fifty-two week low of $34.64 and a fifty-two week high of $70.38.

StepStone Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 2.13%. The ex-dividend date was Friday, February 28th. StepStone Group's dividend payout ratio is presently -56.80%.

Insider Buying and Selling at StepStone Group

In related news, CAO Anthony Keathley sold 538 shares of StepStone Group stock in a transaction that occurred on Wednesday, February 19th. The stock was 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 transaction 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 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 completion of the transaction, 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 position. The disclosure for this sale can be found here. 18.44% of the stock is owned by corporate insiders.

About StepStone Group

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.