JPMorgan Chase & Co. Buys 77,490 Shares of StepStone Group LP (NASDAQ:STEP)

JPMorgan Chase & Co. boosted its stake in StepStone Group LP (NASDAQ:STEP - Free Report) by 4.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,711,872 shares of the company's stock after buying an additional 77,490 shares during the quarter. JPMorgan Chase & Co. owned approximately 1.49% of StepStone Group worth $99,083,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of STEP. Vanguard Group Inc. increased its stake in StepStone Group by 6.3% in the 4th quarter. Vanguard Group Inc. now owns 6,938,181 shares of the company's stock valued at $401,582,000 after buying an additional 411,133 shares during the last quarter. KLP Kapitalforvaltning AS bought a new position in shares of StepStone Group in the fourth quarter valued at approximately $793,000. Sei Investments Co. increased its position in shares of StepStone Group by 9.8% during the fourth quarter. Sei Investments Co. now owns 84,687 shares of the company's stock valued at $4,902,000 after acquiring an additional 7,524 shares during the last quarter. Quantbot Technologies LP bought a new stake in StepStone Group during the fourth quarter worth $3,727,000. Finally, Summit Global Investments purchased a new position in StepStone Group in the fourth quarter worth $547,000. 55.54% of the stock is owned by hedge funds and other institutional investors.

StepStone Group Trading Down 0.7 %

Shares of NASDAQ STEP traded down $0.32 during midday trading on Monday, hitting $43.58. The company's stock had a trading volume of 2,620,674 shares, compared to its average volume of 647,503. The stock has a fifty day moving average price of $57.25 and a 200 day moving average price of $59.91. The firm has a market capitalization of $5.05 billion, a price-to-earnings ratio of -25.79 and a beta of 1.36. StepStone Group LP has a one year low of $34.64 and a one year high of $70.38.

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StepStone Group Dividend Announcement

The business also recently announced 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. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.96 annualized dividend and a dividend yield of 2.20%. StepStone Group's dividend payout ratio is currently -56.80%.

Insider Transactions at StepStone Group

In other news, CAO Anthony Keathley sold 538 shares of the stock in a transaction dated 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 of the company's stock, valued at approximately $87,318. This represents a 27.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Scott W. Hart sold 10,000 shares of the business's stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $61.43, for a total transaction of $614,300.00. Following the transaction, the chief executive officer now directly owns 110,000 shares of the company's stock, valued at approximately $6,757,300. This represents a 8.33 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 18.44% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Evercore ISI raised their target price on StepStone Group from $63.00 to $69.00 and gave the company an "outperform" rating in a research report on Monday, February 10th. Oppenheimer lifted their price objective 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. Finally, Barclays reduced their target price 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. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $66.21.

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.