PDT Partners LLC Buys 22,729 Shares of StepStone Group LP (NASDAQ:STEP)

PDT Partners LLC boosted its stake in StepStone Group LP (NASDAQ:STEP - Free Report) by 445.7% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 27,829 shares of the company's stock after acquiring an additional 22,729 shares during the period. PDT Partners LLC's holdings in StepStone Group were worth $1,582,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Amalgamated Bank increased its holdings in StepStone Group by 749.8% in the 2nd quarter. Amalgamated Bank now owns 16,001 shares of the company's stock worth $734,000 after acquiring an additional 14,118 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of StepStone Group by 991.1% in the second quarter. Principal Financial Group Inc. now owns 291,530 shares of the company's stock worth $13,378,000 after purchasing an additional 264,811 shares in the last quarter. Public Sector Pension Investment Board bought a new stake in shares of StepStone Group in the second quarter valued at approximately $5,254,000. Bank of New York Mellon Corp lifted its stake in shares of StepStone Group by 25.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,115,384 shares of the company's stock valued at $51,185,000 after buying an additional 225,201 shares in the last quarter. Finally, SG Americas Securities LLC boosted its holdings in StepStone Group by 399.3% in the 3rd quarter. SG Americas Securities LLC now owns 12,024 shares of the company's stock worth $683,000 after buying an additional 9,616 shares during the period. 55.54% of the stock is currently owned by hedge funds and other institutional investors.

StepStone Group Trading Down 1.7 %

Shares of NASDAQ STEP traded down $1.09 during midday trading on Monday, hitting $64.80. 534,827 shares of the company's stock were exchanged, compared to its average volume of 570,129. StepStone Group LP has a 12-month low of $25.06 and a 12-month high of $70.38. The company has a market cap of $7.46 billion, a price-to-earnings ratio of 108.32 and a beta of 1.27. The business's fifty day moving average price is $61.97 and its two-hundred day moving average price is $52.69.

StepStone Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be given a $0.24 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.96 annualized dividend and a yield of 1.48%. StepStone Group's dividend payout ratio (DPR) is presently 160.00%.

Insider Activity at StepStone Group

In other StepStone Group news, CAO Anthony Keathley sold 729 shares of the company's stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $68.85, for a total value of $50,191.65. Following the completion of the sale, the chief accounting officer now owns 2,158 shares of the company's stock, valued at $148,578.30. This represents a 25.25 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO David Y. Park sold 3,000 shares of StepStone Group stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $68.21, for a total transaction of $204,630.00. Following the transaction, the chief financial officer now directly owns 20,251 shares in the company, valued at $1,381,320.71. This trade represents a 12.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 18.44% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages have issued reports on STEP. Morgan Stanley boosted their target price on shares of StepStone Group from $60.00 to $65.00 and gave the company an "equal weight" rating in a report on Thursday, November 14th. Barclays boosted their price objective on StepStone Group from $51.00 to $61.00 and gave the company an "equal weight" rating in a research note on Monday, October 7th. Evercore ISI raised their target price on StepStone Group from $52.00 to $55.00 and gave the stock an "outperform" rating in a research note on Monday, October 14th. UBS Group upped their price target on StepStone Group from $55.00 to $65.00 and gave the company a "neutral" rating in a research report on Tuesday, October 22nd. Finally, Oppenheimer raised their price objective on shares of StepStone Group from $56.00 to $73.00 and gave the company an "outperform" rating in a research report on Wednesday, October 16th. Four equities 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.com, the stock presently has an average rating of "Hold" and a consensus target price of $64.36.

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.