Vanguard Group Inc. lifted its stake in StepStone Group LP (NASDAQ:STEP - Free Report) by 6.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,938,181 shares of the company's stock after acquiring an additional 411,133 shares during the quarter. Vanguard Group Inc. owned approximately 6.02% of StepStone Group worth $401,582,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also modified their holdings of the company. State Street Corp grew its position in StepStone Group by 12.4% in the third quarter. State Street Corp now owns 2,401,034 shares of the company's stock worth $136,451,000 after acquiring an additional 265,240 shares in the last quarter. Geode Capital Management LLC boosted its holdings in StepStone Group by 17.4% in the third quarter. Geode Capital Management LLC now owns 1,457,690 shares of the company's stock worth $82,856,000 after purchasing an additional 216,029 shares in the last quarter. Franklin Resources Inc. increased its position in StepStone Group by 11.9% during the third quarter. Franklin Resources Inc. now owns 805,195 shares of the company's stock worth $48,279,000 after buying an additional 85,904 shares during the last quarter. Raymond James Financial Inc. acquired a new position in StepStone Group during the fourth quarter worth $46,163,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in StepStone Group by 2.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 609,619 shares of the company's stock valued at $35,285,000 after buying an additional 12,768 shares in the last quarter. 55.54% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of equities research analysts have issued reports on STEP shares. Oppenheimer upped their price target on shares of StepStone Group from $81.00 to $85.00 and gave the company an "outperform" rating in a report on Friday, February 7th. Barclays lowered their target price on StepStone Group from $69.00 to $48.00 and set an "equal weight" rating on the stock in a report on Monday. Finally, Evercore ISI upped their price target on StepStone Group from $63.00 to $69.00 and gave the stock an "outperform" rating in a report on Monday, February 10th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, StepStone Group has a consensus rating of "Hold" and an average price target of $66.21.
Check Out Our Latest Analysis on StepStone Group
Insider Transactions at StepStone Group
In other news, CAO Anthony Keathley sold 538 shares of the firm's stock in a transaction that occurred on 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 $87,318. This trade represents a 27.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Scott W. Hart sold 10,000 shares of the firm's stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $61.43, for a total value of $614,300.00. Following the sale, the chief executive officer now directly owns 110,000 shares of the company's stock, valued at $6,757,300. This represents a 8.33 % 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 Price Performance
STEP stock traded down $0.32 during trading hours on Monday, reaching $43.58. 2,620,674 shares of the stock were exchanged, compared to its average volume of 647,503. The company has a market cap of $5.05 billion, a price-to-earnings ratio of -25.79 and a beta of 1.36. The firm's 50-day moving average is $57.25 and its 200-day moving average is $59.91. StepStone Group LP has a 12 month low of $34.64 and a 12 month high of $70.38.
StepStone Group Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders 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 annualized dividend and a yield of 2.20%. StepStone Group's dividend payout ratio (DPR) is presently -56.80%.
StepStone Group Company Profile
(
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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