Swiss National Bank boosted its stake in StepStone Group LP (NASDAQ:STEP - Free Report) by 12.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 126,900 shares of the company's stock after purchasing an additional 14,100 shares during the period. Swiss National Bank owned approximately 0.11% of StepStone Group worth $7,345,000 at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in STEP. Barclays PLC lifted its position in shares of StepStone Group by 368.2% during the third quarter. Barclays PLC now owns 112,019 shares of the company's stock worth $6,366,000 after purchasing an additional 88,095 shares in the last quarter. Oppenheimer & Co. Inc. purchased a new stake in StepStone Group during the 4th quarter worth $388,000. Proficio Capital Partners LLC acquired a new position in StepStone Group in the 4th quarter worth $941,000. Principal Financial Group Inc. boosted its position in StepStone Group by 4.9% in the 4th quarter. Principal Financial Group Inc. now owns 438,130 shares of the company's stock valued at $25,359,000 after buying an additional 20,285 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake 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 valued at $82,856,000 after acquiring an additional 216,029 shares in the last quarter. 55.54% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several research analysts recently commented on STEP shares. Oppenheimer boosted 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. Barclays upped their target price on StepStone Group from $66.00 to $69.00 and gave the company an "equal weight" rating in a research report on Friday, February 7th. Finally, Evercore ISI lifted their price target on shares of StepStone Group from $63.00 to $69.00 and gave the stock an "outperform" rating in a research note on Monday, February 10th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $69.21.
View Our Latest Stock Report on STEP
Insider Activity
In related news, CEO Scott W. Hart sold 10,000 shares of the firm's 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 sale, the chief executive officer now owns 110,000 shares of the company's stock, valued at approximately $6,757,300. This trade represents a 8.33 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Anthony Keathley sold 538 shares of the business's stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $63.00, for a total value of $33,894.00. Following the transaction, the chief accounting officer now owns 1,386 shares of the company's stock, valued at $87,318. This represents a 27.96 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 18.44% of the company's stock.
StepStone Group Stock Performance
Shares of NASDAQ STEP traded up $0.62 during trading on Tuesday, reaching $57.16. The stock had a trading volume of 520,110 shares, compared to its average volume of 615,526. The firm's 50 day moving average price is $59.34 and its two-hundred day moving average price is $60.06. StepStone Group LP has a one year low of $33.90 and a one year high of $70.38. The stock has a market cap of $6.63 billion, a PE ratio of -33.82 and a beta of 1.33.
StepStone Group Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were given 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 1.68%. StepStone Group's payout ratio is currently -56.80%.
StepStone Group Company Profile
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Free Report)
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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