Loomis Sayles & Co. L P lessened its stake in StepStone Group LP (NASDAQ:STEP - Free Report) by 7.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 653,947 shares of the company's stock after selling 56,274 shares during the quarter. Loomis Sayles & Co. L P owned about 0.57% of StepStone Group worth $37,850,000 at the end of the most recent quarter.
Several other institutional investors also recently made changes to their positions in STEP. Steward Partners Investment Advisory LLC purchased a new position in shares of StepStone Group in the 4th quarter worth $27,000. Raleigh Capital Management Inc. acquired a new position in shares of StepStone Group in the 4th quarter valued at about $29,000. IFP Advisors Inc purchased a new stake in shares of StepStone Group during the 4th quarter worth about $36,000. Amundi increased its position in StepStone Group by 26.7% during the 4th quarter. Amundi now owns 730 shares of the company's stock worth $42,000 after purchasing an additional 154 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in StepStone Group by 36.6% in the fourth quarter. GAMMA Investing LLC now owns 844 shares of the company's stock valued at $49,000 after buying an additional 226 shares during the period. 55.54% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling
In related news, CEO Scott W. Hart sold 10,000 shares of StepStone Group stock in a transaction dated Thursday, February 20th. The stock was 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 $6,757,300. The trade was a 8.33 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Anthony Keathley sold 538 shares of the firm's stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $63.00, for a total transaction of $33,894.00. Following the transaction, the chief accounting officer now owns 1,386 shares of the company's stock, valued at approximately $87,318. This trade represents a 27.96 % decrease in their position. The disclosure for this sale can be found here. 18.44% of the stock is owned by corporate insiders.
StepStone Group Stock Up 2.3 %
StepStone Group stock traded up $1.21 during mid-day trading on Tuesday, hitting $53.44. 54,677 shares of the company's stock traded hands, compared to its average volume of 631,120. StepStone Group LP has a one year low of $33.92 and a one year high of $70.38. The company has a market cap of $6.20 billion, a PE ratio of -31.49 and a beta of 1.33. The firm has a 50 day moving average price of $58.72 and a 200 day moving average price of $60.10.
StepStone Group Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were paid 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 yield of 1.80%. StepStone Group's payout ratio is -56.80%.
Analyst Ratings Changes
Several equities analysts recently weighed in on the stock. Evercore ISI lifted their target price 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. 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 report on Friday, February 7th. Finally, Barclays raised their price target on shares of StepStone Group from $66.00 to $69.00 and gave the stock an "equal weight" rating in a research report on Friday, February 7th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $69.21.
Read Our Latest Stock Analysis on StepStone Group
StepStone Group 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.
See Also
Before you consider StepStone Group, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and StepStone Group wasn't on the list.
While StepStone Group currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Which stocks are likely to thrive in today's challenging market? Enter your email address and we'll send you MarketBeat's list of ten stocks that will drive in any economic environment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
