Invesco Ltd. lifted its stake in shares of StepStone Group LP (NASDAQ:STEP - Free Report) by 11.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 3,542,270 shares of the company's stock after acquiring an additional 366,154 shares during the period. Invesco Ltd. owned 3.08% of StepStone Group worth $205,027,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also bought and sold shares of the company. Barclays PLC boosted its holdings in StepStone Group by 368.2% in the third quarter. Barclays PLC now owns 112,019 shares of the company's stock worth $6,366,000 after acquiring an additional 88,095 shares in the last quarter. Oppenheimer & Co. Inc. purchased a new position in StepStone Group in the fourth quarter worth $388,000. Cibc World Markets Corp bought a new position in StepStone Group during the fourth quarter valued at about $355,000. Proficio Capital Partners LLC bought a new stake in shares of StepStone Group in the 4th quarter worth approximately $941,000. Finally, Principal Financial Group Inc. raised its stake in shares of StepStone Group by 4.9% in the fourth quarter. Principal Financial Group Inc. now owns 438,130 shares of the company's stock valued at $25,359,000 after buying an additional 20,285 shares during the period. 55.54% of the stock is owned by institutional investors.
StepStone Group Trading Up 1.3 %
Shares of STEP traded up $0.63 during midday trading on Tuesday, reaching $47.81. The stock had a trading volume of 335,480 shares, compared to its average volume of 657,126. The company has a market capitalization of $5.54 billion, a price-to-earnings ratio of -28.29 and a beta of 1.36. The company's 50-day moving average is $54.73 and its 200 day moving average is $59.36. StepStone Group LP has a 12-month low of $34.64 and a 12-month high of $70.38.
StepStone Group Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date of this dividend was Friday, February 28th. StepStone Group's payout ratio is currently -56.80%.
Insiders Place Their Bets
In other news, CAO Anthony Keathley sold 538 shares of the business's stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $63.00, for a total value of $33,894.00. Following the completion of the sale, the chief accounting officer now owns 1,386 shares of the company's stock, valued at approximately $87,318. The trade was a 27.96 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Scott W. Hart sold 10,000 shares of the firm's 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 owns 110,000 shares in the company, valued at approximately $6,757,300. The trade was a 8.33 % 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.
Analyst Ratings Changes
A number of equities research analysts recently issued reports on the company. Barclays lowered their price objective on StepStone Group from $69.00 to $48.00 and set an "equal weight" rating on the stock in a research note on Monday, April 7th. Morgan Stanley dropped their price objective on StepStone Group from $66.00 to $51.00 and set an "equal weight" rating on the stock in a report on Monday. Oppenheimer lifted their target price on StepStone Group from $81.00 to $85.00 and gave the company an "outperform" rating in a report on Friday, February 7th. Finally, Evercore ISI raised their price target on shares of StepStone Group from $63.00 to $69.00 and gave the company an "outperform" rating in a report on Monday, February 10th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $64.21.
Check Out Our Latest Research Report on STEP
StepStone Group Company Profile
(
Free Report)
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.
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