Price T Rowe Associates Inc. MD Raises Holdings in StepStone Group LP (NASDAQ:STEP)

Price T Rowe Associates Inc. MD increased its holdings in StepStone Group LP (NASDAQ:STEP - Free Report) by 19.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,599,875 shares of the company's stock after acquiring an additional 895,521 shares during the quarter. Price T Rowe Associates Inc. MD owned about 4.86% of StepStone Group worth $324,122,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Amundi increased its stake in StepStone Group by 26.7% during the 4th quarter. Amundi now owns 730 shares of the company's stock valued at $42,000 after purchasing an additional 154 shares in the last quarter. Mutual of America Capital Management LLC increased its stake in StepStone Group by 1.7% during the 4th quarter. Mutual of America Capital Management LLC now owns 9,578 shares of the company's stock valued at $554,000 after purchasing an additional 157 shares in the last quarter. Blue Trust Inc. increased its stake in StepStone Group by 25.5% during the 4th quarter. Blue Trust Inc. now owns 1,079 shares of the company's stock valued at $61,000 after purchasing an additional 219 shares in the last quarter. GAMMA Investing LLC increased its stake in 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 purchasing an additional 226 shares in the last quarter. Finally, Louisiana State Employees Retirement System increased its stake in StepStone Group by 1.0% during the 4th quarter. Louisiana State Employees Retirement System now owns 30,600 shares of the company's stock valued at $1,771,000 after purchasing an additional 300 shares in the last quarter. 55.54% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on STEP. Oppenheimer set a $67.00 price target on shares of StepStone Group and gave the company an "outperform" rating in a report on Wednesday, April 16th. Barclays dropped 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. Morgan Stanley dropped 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, April 14th. Finally, Evercore ISI raised their price objective on shares of StepStone Group from $63.00 to $69.00 and gave the stock an "outperform" rating in a 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. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $61.64.

StepStone Group Stock Down 0.6 %

NASDAQ:STEP traded down $0.30 during trading hours on Monday, hitting $50.23. 544,093 shares of the stock traded hands, compared to its average volume of 663,108. StepStone Group LP has a 1 year low of $35.25 and a 1 year high of $70.38. The company has a market cap of $5.83 billion, a price-to-earnings ratio of -29.72 and a beta of 1.36. The stock has a 50 day moving average price of $51.87 and a 200 day moving average price of $58.55.

StepStone Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 1.91%. The ex-dividend date was Friday, February 28th. StepStone Group's payout ratio is currently -56.80%.

Insider Transactions at StepStone Group

In other StepStone Group news, CAO Anthony Keathley sold 538 shares of StepStone Group stock in a transaction 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 sale, the chief accounting officer now directly owns 1,386 shares in the company, valued at approximately $87,318. The trade was a 27.96 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Scott W. Hart sold 10,000 shares of the stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $61.43, for a total transaction of $614,300.00. Following the transaction, the chief executive officer now directly owns 110,000 shares of the company's stock, valued at $6,757,300. This trade represents a 8.33 % decrease in their position. The disclosure for this sale can be found here. Insiders own 18.44% of the company's stock.

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.