Proficio Capital Partners LLC Acquires Shares of 16,264 StepStone Group LP (NASDAQ:STEP)

Proficio Capital Partners LLC purchased a new position in shares of StepStone Group LP (NASDAQ:STEP - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 16,264 shares of the company's stock, valued at approximately $941,000.

A number of other large investors also recently modified their holdings of the company. FMR LLC increased its holdings in StepStone Group by 3.7% in the 3rd quarter. FMR LLC now owns 3,999,819 shares of the company's stock worth $227,310,000 after purchasing an additional 141,637 shares in the last quarter. State Street Corp increased its stake in shares of StepStone Group by 12.4% in the third quarter. State Street Corp now owns 2,401,034 shares of the company's stock valued at $136,451,000 after buying an additional 265,240 shares during the period. Geode Capital Management LLC increased its stake 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 valued at $82,856,000 after buying an additional 216,029 shares during the period. Franklin Resources Inc. raised its holdings in StepStone Group by 11.9% in the 3rd quarter. Franklin Resources Inc. now owns 805,195 shares of the company's stock valued at $48,279,000 after buying an additional 85,904 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in StepStone Group by 2.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 609,619 shares of the company's stock worth $35,285,000 after buying an additional 12,768 shares during the period. 55.54% of the stock is currently owned by institutional investors.

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Wall Street Analyst Weigh In

Several equities analysts have issued reports on STEP shares. Oppenheimer upped their price target 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. Barclays increased their price objective on StepStone Group from $66.00 to $69.00 and gave the company an "equal weight" rating in a report on Friday, February 7th. Finally, Evercore ISI lifted their target price on StepStone Group from $63.00 to $69.00 and gave the stock an "outperform" rating in a report on Monday, February 10th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, StepStone Group has an average rating of "Hold" and an average target price of $69.21.

StepStone Group Trading Up 1.1 %

STEP stock traded up $0.62 during midday trading on Tuesday, hitting $57.16. The stock had a trading volume of 520,110 shares, compared to its average volume of 613,658. The firm has a market cap of $6.63 billion, a P/E ratio of -33.82 and a beta of 1.33. The business has a fifty day moving average price of $59.37 and a two-hundred day moving average price of $60.02. StepStone Group LP has a 1-year low of $33.90 and a 1-year high of $70.38.

StepStone Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were given a dividend of $0.24 per share. The ex-dividend date was Friday, February 28th. This represents a $0.96 annualized dividend and a dividend yield of 1.68%. StepStone Group's payout ratio is -56.80%.

Insider Buying and Selling

In other StepStone Group news, CAO Anthony Keathley sold 538 shares of the 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 transaction, the chief accounting officer now directly owns 1,386 shares in the company, valued at approximately $87,318. This represents a 27.96 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Scott W. Hart sold 10,000 shares of StepStone Group stock in a transaction 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 completion of the sale, the chief executive officer now owns 110,000 shares of the company's stock, valued at $6,757,300. This represents a 8.33 % decrease in their position. The disclosure for this sale can be found here. 18.44% of the stock is currently owned by insiders.

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.