Renaissance Technologies LLC Has $13.36 Million Holdings in StepStone Group LP (NASDAQ:STEP)

Renaissance Technologies LLC cut its holdings in shares of StepStone Group LP (NASDAQ:STEP - Free Report) by 21.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 230,802 shares of the company's stock after selling 61,398 shares during the period. Renaissance Technologies LLC owned approximately 0.20% of StepStone Group worth $13,359,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Steward Partners Investment Advisory LLC bought a new stake in shares of StepStone Group during the 4th quarter worth $27,000. Raleigh Capital Management Inc. acquired a new position in shares of StepStone Group in the 4th quarter valued at $29,000. IFP Advisors Inc purchased a new position in StepStone Group in the 4th quarter worth about $36,000. Amundi raised its holdings in StepStone Group by 26.7% during the 4th quarter. Amundi now owns 730 shares of the company's stock worth $42,000 after buying an additional 154 shares during the period. Finally, GAMMA Investing LLC lifted its stake in StepStone Group by 36.6% during the fourth quarter. GAMMA Investing LLC now owns 844 shares of the company's stock valued at $49,000 after buying an additional 226 shares in the last quarter. 55.54% of the stock is currently owned by institutional investors.

StepStone Group Stock Up 0.6 %

STEP stock traded up $0.29 during midday trading on Friday, hitting $47.06. 366,043 shares of the company traded hands, compared to its average volume of 659,730. StepStone Group LP has a twelve month low of $34.91 and a twelve month high of $70.38. The business has a 50 day simple moving average of $53.75 and a 200-day simple moving average of $59.12. The stock has a market capitalization of $5.46 billion, a price-to-earnings ratio of -27.85 and a beta of 1.36.

StepStone Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 2.04%. The ex-dividend date of this dividend was Friday, February 28th. StepStone Group's dividend payout ratio (DPR) is -56.80%.

Insider Activity

In other news, CEO Scott W. Hart sold 10,000 shares of the stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $61.43, for a total value of $614,300.00. Following the completion of 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Anthony Keathley sold 538 shares of the company's stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $63.00, for a total transaction of $33,894.00. Following the transaction, the chief accounting officer now owns 1,386 shares of the company's stock, valued at approximately $87,318. The trade was a 27.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 18.44% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms have recently issued reports on STEP. Barclays cut their price target on shares of StepStone Group from $69.00 to $48.00 and set an "equal weight" rating on the stock in a report on Monday, April 7th. Oppenheimer set a $67.00 price target on shares of StepStone Group and gave the stock an "outperform" rating in a report on Wednesday. Evercore ISI boosted their target price on shares of StepStone Group from $63.00 to $69.00 and gave the stock an "outperform" rating in a research report on Monday, February 10th. Finally, Morgan Stanley cut their price target on shares of StepStone Group from $66.00 to $51.00 and set an "equal weight" rating on the stock in a report on Monday. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $61.64.

About StepStone Group

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.