Raymond James Financial Inc. Acquires Shares of 797,569 StepStone Group LP (NASDAQ:STEP)

Raymond James Financial Inc. acquired a new stake in StepStone Group LP (NASDAQ:STEP - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 797,569 shares of the company's stock, valued at approximately $46,163,000. Raymond James Financial Inc. owned 0.69% of StepStone Group as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the company. Mutual of America Capital Management LLC increased its stake in shares of StepStone Group by 1.7% during the fourth quarter. Mutual of America Capital Management LLC now owns 9,578 shares of the company's stock worth $554,000 after purchasing an additional 157 shares during the period. Blue Trust Inc. increased its stake in shares of StepStone Group by 25.5% during the fourth quarter. Blue Trust Inc. now owns 1,079 shares of the company's stock worth $61,000 after purchasing an additional 219 shares during the period. GAMMA Investing LLC increased its stake in shares of StepStone Group by 36.6% during the fourth quarter. GAMMA Investing LLC now owns 844 shares of the company's stock worth $49,000 after purchasing an additional 226 shares during the period. Louisiana State Employees Retirement System increased its stake in shares of StepStone Group by 1.0% during the fourth quarter. Louisiana State Employees Retirement System now owns 30,600 shares of the company's stock worth $1,771,000 after purchasing an additional 300 shares during the period. Finally, Steward Partners Investment Advisory LLC bought a new position in shares of StepStone Group during the fourth quarter worth approximately $27,000. Institutional investors own 55.54% of the company's stock.

StepStone Group Stock Performance

Shares of STEP stock opened at $50.90 on Wednesday. The stock's fifty day moving average price is $60.28 and its two-hundred day moving average price is $60.02. The company has a market cap of $5.90 billion, a PE ratio of -30.12 and a beta of 1.33. StepStone Group LP has a fifty-two week low of $32.58 and a fifty-two week high of $70.38.

StepStone Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date is Friday, February 28th. StepStone Group's dividend payout ratio is presently -56.80%.

Insider Buying and Selling 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 stock was sold at an average price of $63.00, for a total transaction of $33,894.00. Following the sale, the chief accounting officer now owns 1,386 shares of the company's stock, valued at $87,318. This trade represents a 27.96 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Scott W. Hart sold 10,000 shares of the firm's stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $61.43, for a total value of $614,300.00. Following the sale, the chief executive officer now directly owns 110,000 shares in the company, valued at approximately $6,757,300. This trade represents 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.

Wall Street Analyst Weigh In

STEP has been the topic of a number of recent research reports. Oppenheimer increased their target price on StepStone Group from $81.00 to $85.00 and gave the stock an "outperform" rating in a research note on Friday, February 7th. The Goldman Sachs Group increased their target price on StepStone Group from $64.00 to $70.50 and gave the stock a "neutral" rating in a research note on Tuesday, November 19th. Morgan Stanley increased their price target on StepStone Group from $60.00 to $65.00 and gave the stock an "equal weight" rating in a research report on Thursday, November 14th. Evercore ISI increased their price target on StepStone Group from $63.00 to $69.00 and gave the stock an "outperform" rating in a research report on Monday, February 10th. Finally, Barclays increased their price target on 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 equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $69.21.

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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.

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