StepStone Group LP (NASDAQ:STEP) Shares Bought by Rhumbline Advisers

Rhumbline Advisers boosted its position in StepStone Group LP (NASDAQ:STEP - Free Report) by 3.2% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 171,194 shares of the company's stock after acquiring an additional 5,377 shares during the period. Rhumbline Advisers owned about 0.15% of StepStone Group worth $9,909,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Blue Trust Inc. increased its position in 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 last quarter. GAMMA Investing LLC grew its stake in shares of StepStone Group by 36.6% during the 4th quarter. GAMMA Investing LLC now owns 844 shares of the company's stock valued at $49,000 after buying an additional 226 shares during the period. Louisiana State Employees Retirement System increased its holdings in shares of StepStone Group by 1.0% during the 4th quarter. Louisiana State Employees Retirement System now owns 30,600 shares of the company's stock worth $1,771,000 after buying an additional 300 shares during the last quarter. KBC Group NV increased its holdings in shares of StepStone Group by 35.7% during the 3rd quarter. KBC Group NV now owns 1,840 shares of the company's stock worth $105,000 after buying an additional 484 shares during the last quarter. Finally, Raleigh Capital Management Inc. purchased a new position in shares of StepStone Group in the 4th quarter worth $29,000. Institutional investors and hedge funds own 55.54% of the company's stock.

StepStone Group Price Performance

STEP traded up $2.16 on Friday, reaching $60.16. The company's stock had a trading volume of 710,115 shares, compared to its average volume of 480,642. StepStone Group LP has a 1 year low of $32.58 and a 1 year high of $70.38. The business's 50 day moving average is $61.05 and its 200 day moving average is $59.79. The stock has a market cap of $6.98 billion, a price-to-earnings ratio of -35.60 and a beta of 1.31.

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StepStone Group Announces Dividend

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 paid a dividend of $0.24 per share. The ex-dividend date is Friday, February 28th. This represents a $0.96 annualized dividend and a yield of 1.60%. StepStone Group's payout ratio is -56.80%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on STEP. Oppenheimer upped their price target on StepStone Group from $81.00 to $85.00 and gave the stock an "outperform" rating in a research note on Friday, February 7th. Morgan Stanley boosted their price objective on shares of StepStone Group from $60.00 to $65.00 and gave the stock an "equal weight" rating in a research note on Thursday, November 14th. Evercore ISI increased their price objective 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. Barclays upped their price target on shares of StepStone Group from $66.00 to $69.00 and gave the stock an "equal weight" rating in a research report on Friday, February 7th. Finally, The Goldman Sachs Group boosted their price objective on StepStone Group from $64.00 to $70.50 and gave the stock a "neutral" rating in a research note on Tuesday, November 19th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $69.21.

Insiders Place Their Bets

In other StepStone Group news, insider Michael I. Mccabe sold 4,000 shares of the firm's stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $64.25, for a total value of $257,000.00. Following the transaction, the insider now owns 686,516 shares of the company's stock, valued at $44,108,653. This trade represents a 0.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Scott W. Hart sold 22,091 shares of the company's stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $63.24, for a total value of $1,397,034.84. Following the transaction, the chief executive officer now directly owns 157,909 shares of the company's stock, valued at $9,986,165.16. This trade represents a 12.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 36,629 shares of company stock valued at $2,302,229. Company 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.