Sei Investments Co. Raises Stock Holdings in StepStone Group LP (NASDAQ:STEP)

Sei Investments Co. grew its holdings in StepStone Group LP (NASDAQ:STEP - Free Report) by 9.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 84,687 shares of the company's stock after purchasing an additional 7,524 shares during the period. Sei Investments Co. owned about 0.07% of StepStone Group worth $4,902,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Steward Partners Investment Advisory LLC purchased a new position in StepStone Group in the 4th quarter worth about $27,000. Raleigh Capital Management Inc. purchased a new position in shares of StepStone Group during the fourth quarter worth approximately $29,000. IFP Advisors Inc purchased a new position in shares of StepStone Group during the fourth quarter worth approximately $36,000. Amundi raised its stake in shares of StepStone Group by 26.7% during the fourth quarter. Amundi now owns 730 shares of the company's stock valued at $42,000 after acquiring an additional 154 shares in the last quarter. Finally, GAMMA Investing LLC boosted its holdings in shares of StepStone Group by 36.6% in the fourth quarter. GAMMA Investing LLC now owns 844 shares of the company's stock valued at $49,000 after purchasing an additional 226 shares during the period. 55.54% of the stock is currently owned by institutional investors.

StepStone Group Stock Performance

STEP traded down $3.82 on Friday, hitting $43.90. The company had a trading volume of 1,142,820 shares, compared to its average volume of 637,422. The stock has a market capitalization of $5.09 billion, a price-to-earnings ratio of -25.98 and a beta of 1.36. The stock has a fifty day moving average price of $58.04 and a 200-day moving average price of $60.00. StepStone Group LP has a 12-month low of $34.01 and a 12-month high of $70.38.

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StepStone Group Announces Dividend

The company 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 dividend on an annualized basis and a yield of 2.19%. StepStone Group's payout ratio is -56.80%.

Insider Buying and Selling at StepStone Group

In other StepStone Group news, CEO Scott W. Hart sold 10,000 shares of the stock in a transaction dated 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 in the company, valued at approximately $6,757,300. This trade represents a 8.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Anthony Keathley sold 538 shares of the firm's stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $63.00, for a total value of $33,894.00. Following the completion of the sale, the chief accounting officer now directly owns 1,386 shares of the company's stock, valued at approximately $87,318. This represents a 27.96 % decrease in their position. The disclosure for this sale can be found here. 18.44% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

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

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.