KLP Kapitalforvaltning AS Invests $793,000 in StepStone Group LP (NASDAQ:STEP)

KLP Kapitalforvaltning AS purchased a new position in StepStone Group LP (NASDAQ:STEP - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 13,700 shares of the company's stock, valued at approximately $793,000.

Several other large investors have also recently modified their holdings of the stock. Steward Partners Investment Advisory LLC bought a new stake in StepStone Group during the 4th quarter valued at about $27,000. Raleigh Capital Management Inc. bought a new stake in shares of StepStone Group during the fourth quarter valued at approximately $29,000. IFP Advisors Inc purchased a new position in StepStone Group in the 4th quarter worth approximately $36,000. Amundi lifted its position in StepStone Group by 26.7% in the 4th quarter. Amundi now owns 730 shares of the company's stock valued at $42,000 after acquiring an additional 154 shares in the last quarter. Finally, GAMMA Investing LLC boosted 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 purchasing an additional 226 shares during the last quarter. Hedge funds and other institutional investors own 55.54% of the company's stock.

StepStone Group Trading Down 6.7 %

STEP stock traded down $3.22 during midday trading on Friday, reaching $44.51. 460,096 shares of the company's stock traded hands, compared to its average volume of 634,987. StepStone Group LP has a 52-week low of $34.01 and a 52-week high of $70.38. The stock has a market cap of $5.16 billion, a P/E ratio of -26.14 and a beta of 1.36. The stock's 50-day moving average is $58.04 and its 200 day moving average is $60.00.

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StepStone Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were issued a $0.24 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.96 dividend on an annualized basis and a yield of 2.16%. StepStone Group's dividend payout ratio is currently -56.80%.

Insider Activity at StepStone Group

In other StepStone Group news, CEO Scott W. Hart sold 10,000 shares of the firm'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 sale, the chief executive officer now owns 110,000 shares in the company, valued at approximately $6,757,300. This trade represents a 8.33 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Anthony Keathley sold 538 shares of the company's stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $63.00, for a total transaction of $33,894.00. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. 18.44% of the stock is owned by company insiders.

Analysts Set New Price Targets

STEP has been the topic of a number of research analyst reports. Evercore ISI increased their price objective 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 target on shares of StepStone Group from $81.00 to $85.00 and gave the stock an "outperform" rating in a research note on Friday, February 7th. Finally, Barclays increased their price objective on shares of StepStone Group from $66.00 to $69.00 and gave the company an "equal weight" rating in a research report on Friday, February 7th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $69.21.

StepStone Group Company 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.