Illinois Municipal Retirement Fund Has $2.70 Million Position in StepStone Group LP (NASDAQ:STEP)

Illinois Municipal Retirement Fund lifted its stake in shares of StepStone Group LP (NASDAQ:STEP - Free Report) by 62.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 46,679 shares of the company's stock after acquiring an additional 17,995 shares during the quarter. Illinois Municipal Retirement Fund's holdings in StepStone Group were worth $2,702,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp increased its position in shares of StepStone Group by 12.4% during the 3rd quarter. State Street Corp now owns 2,401,034 shares of the company's stock valued at $136,451,000 after purchasing an additional 265,240 shares during the period. Geode Capital Management LLC grew its holdings in StepStone Group by 17.4% during the third quarter. Geode Capital Management LLC now owns 1,457,690 shares of the company's stock worth $82,856,000 after acquiring an additional 216,029 shares during the period. FMR LLC raised its position in StepStone Group by 3.7% in the third quarter. FMR LLC now owns 3,999,819 shares of the company's stock worth $227,310,000 after acquiring an additional 141,637 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of StepStone Group by 43.3% during the 3rd quarter. Principal Financial Group Inc. now owns 417,845 shares of the company's stock valued at $23,746,000 after purchasing an additional 126,315 shares in the last quarter. Finally, Barclays PLC grew its stake in shares of StepStone Group by 368.2% in the 3rd quarter. Barclays PLC now owns 112,019 shares of the company's stock worth $6,366,000 after purchasing an additional 88,095 shares during the last quarter. Institutional investors own 55.54% of the company's stock.

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StepStone Group Stock Performance

Shares of NASDAQ STEP traded down $1.40 during mid-day trading on Monday, reaching $58.76. The company had a trading volume of 483,610 shares, compared to its average volume of 475,850. The stock has a fifty day moving average of $61.09 and a two-hundred day moving average of $59.99. StepStone Group LP has a 12-month low of $32.58 and a 12-month high of $70.38. The company has a market capitalization of $6.81 billion, a price-to-earnings ratio of -34.77 and a beta of 1.31.

StepStone Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 1.63%. The ex-dividend date is Friday, February 28th. StepStone Group's dividend payout ratio is currently -56.80%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Evercore ISI lifted their price target on shares of StepStone Group from $63.00 to $69.00 and gave the stock an "outperform" rating in a research report on Monday, February 10th. Barclays boosted their target price on StepStone Group from $66.00 to $69.00 and gave the stock an "equal weight" rating in a research report on Friday, February 7th. Morgan Stanley lifted their price target on StepStone Group from $60.00 to $65.00 and gave the stock an "equal weight" rating in a research note on Thursday, November 14th. Oppenheimer upped their price objective on shares of StepStone Group from $81.00 to $85.00 and gave the company an "outperform" rating in a research note on Friday, February 7th. Finally, The Goldman Sachs Group boosted their price target on shares of StepStone Group from $64.00 to $70.50 and gave the company a "neutral" rating in a report on Tuesday, November 19th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $69.21.

Insider Activity

In other StepStone Group news, CEO Scott W. Hart sold 10,000 shares of the business's stock in a transaction dated 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 owns 110,000 shares in the company, valued at $6,757,300. The trade was a 8.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Michael I. Mccabe sold 4,000 shares of the firm's stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $64.25, for a total value of $257,000.00. Following the sale, the insider now directly owns 686,516 shares of the company's stock, valued at $44,108,653. This trade represents a 0.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 36,629 shares of company stock worth $2,302,229 in the last ninety days. Corporate insiders own 18.44% of the company's stock.

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.