Quantbot Technologies LP Takes $3.73 Million Position in StepStone Group LP (NASDAQ:STEP)

Quantbot Technologies LP purchased a new stake in shares of StepStone Group LP (NASDAQ:STEP - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 64,385 shares of the company's stock, valued at approximately $3,727,000. Quantbot Technologies LP owned approximately 0.06% of StepStone Group as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of STEP. Raymond James Financial Inc. purchased a new stake in shares of StepStone Group during the 4th quarter valued at about $46,163,000. State Street Corp raised its stake in shares of StepStone Group by 12.4% during the third quarter. State Street Corp now owns 2,401,034 shares of the company's stock valued at $136,451,000 after purchasing an additional 265,240 shares during the period. Geode Capital Management LLC lifted its position in shares of StepStone Group by 17.4% during the third quarter. Geode Capital Management LLC now owns 1,457,690 shares of the company's stock worth $82,856,000 after purchasing an additional 216,029 shares in the last quarter. FMR LLC boosted its stake in shares of StepStone Group by 3.7% in the third quarter. FMR LLC now owns 3,999,819 shares of the company's stock valued at $227,310,000 after purchasing an additional 141,637 shares during the period. Finally, Principal Financial Group Inc. boosted its stake in shares of StepStone Group by 43.3% in the third quarter. Principal Financial Group Inc. now owns 417,845 shares of the company's stock valued at $23,746,000 after purchasing an additional 126,315 shares during the period. 55.54% of the stock is currently owned by hedge funds and other institutional investors.

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StepStone Group Trading Down 3.2 %

StepStone Group stock traded down $1.83 during midday trading on Wednesday, hitting $55.33. The stock had a trading volume of 301,258 shares, compared to its average volume of 613,814. The business has a fifty day moving average price of $59.34 and a 200 day moving average price of $60.06. StepStone Group LP has a 12 month low of $33.90 and a 12 month high of $70.38. The stock has a market cap of $6.42 billion, a P/E ratio of -32.74 and a beta of 1.33.

StepStone Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were issued a $0.24 dividend. The ex-dividend date was Friday, February 28th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.74%. StepStone Group's dividend payout ratio (DPR) is -56.80%.

Analyst Ratings Changes

A number of brokerages have commented on STEP. Oppenheimer boosted their price objective on shares of StepStone Group from $81.00 to $85.00 and gave the stock an "outperform" rating in a report on Friday, February 7th. Evercore ISI boosted their price target on StepStone Group from $63.00 to $69.00 and gave the stock an "outperform" rating in a research note on Monday, February 10th. Finally, Barclays raised their price objective on StepStone Group from $66.00 to $69.00 and gave the company an "equal weight" rating in a research note on Friday, February 7th. Four 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, StepStone Group has a consensus rating of "Hold" and an average price target of $69.21.

Insider Activity at StepStone Group

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

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.