Oppenheimer & Co. Inc. purchased a new stake in shares of StepStone Group LP (NASDAQ:STEP - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 6,712 shares of the company's stock, valued at approximately $388,000.
Other large investors also recently modified their holdings of the company. Barclays PLC grew its holdings in 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 acquiring an additional 88,095 shares during the last quarter. Principal Financial Group Inc. grew 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 worth $25,359,000 after acquiring an additional 20,285 shares during the period. Geode Capital Management LLC grew its holdings in shares of StepStone Group by 17.4% in 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. Stifel Financial Corp lifted its stake in shares of StepStone Group by 28.7% in the 3rd quarter. Stifel Financial Corp now owns 41,916 shares of the company's stock worth $2,382,000 after purchasing an additional 9,357 shares during the period. Finally, FORA Capital LLC purchased a new stake in StepStone Group in the third quarter worth about $717,000. Institutional investors own 55.54% of the company's stock.
Analyst Upgrades and Downgrades
Several analysts have recently issued reports on STEP shares. Barclays upped their price objective on StepStone Group from $66.00 to $69.00 and gave the stock an "equal weight" rating in a report on Friday, February 7th. Morgan Stanley lifted their price target on shares of StepStone Group from $60.00 to $65.00 and gave the stock an "equal weight" rating in a report on Thursday, November 14th. Evercore ISI boosted their price target on StepStone Group from $63.00 to $69.00 and gave the company an "outperform" rating in a research note on Monday, February 10th. The Goldman Sachs Group boosted their price target on StepStone Group from $64.00 to $70.50 and gave the company a "neutral" rating in a report on Tuesday, November 19th. Finally, Oppenheimer boosted their target price 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. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $69.21.
Read Our Latest Stock Report on StepStone Group
Insider Transactions at StepStone Group
In related news, CAO Anthony Keathley sold 538 shares of the firm's stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $63.00, for a total value of $33,894.00. Following the completion of the transaction, the chief accounting officer now directly owns 1,386 shares of the company's stock, valued at approximately $87,318. This trade represents a 27.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 value of $614,300.00. Following the transaction, the chief executive officer now owns 110,000 shares of the company's stock, valued at $6,757,300. The trade was a 8.33 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 18.44% of the company's stock.
StepStone Group Trading Up 6.5 %
NASDAQ STEP traded up $3.09 during trading on Tuesday, reaching $50.90. The company's stock had a trading volume of 1,617,858 shares, compared to its average volume of 595,179. StepStone Group LP has a 1-year low of $32.58 and a 1-year high of $70.38. The business has a 50-day moving average price of $60.42 and a 200-day moving average price of $60.04. The stock has a market capitalization of $5.90 billion, a PE ratio of -30.12 and a beta of 1.33.
StepStone Group Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be given a $0.24 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.96 dividend on an annualized basis and a yield of 1.89%. StepStone Group's dividend payout ratio (DPR) is presently -56.80%.
StepStone Group Company Profile
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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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