Fmr LLC Has $227.31 Million Stock Position in StepStone Group LP (NASDAQ:STEP)

FMR LLC boosted its holdings in StepStone Group LP (NASDAQ:STEP - Free Report) by 3.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,999,819 shares of the company's stock after purchasing an additional 141,637 shares during the quarter. FMR LLC owned approximately 3.61% of StepStone Group worth $227,310,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in STEP. Amalgamated Bank raised its holdings in StepStone Group by 749.8% during the 2nd quarter. Amalgamated Bank now owns 16,001 shares of the company's stock valued at $734,000 after buying an additional 14,118 shares during the period. Principal Financial Group Inc. boosted its position in StepStone Group by 991.1% during the second quarter. Principal Financial Group Inc. now owns 291,530 shares of the company's stock valued at $13,378,000 after purchasing an additional 264,811 shares in the last quarter. Public Sector Pension Investment Board bought a new stake in StepStone Group during the second quarter valued at about $5,254,000. Bank of New York Mellon Corp boosted its position in StepStone Group by 25.3% during the second quarter. Bank of New York Mellon Corp now owns 1,115,384 shares of the company's stock valued at $51,185,000 after purchasing an additional 225,201 shares in the last quarter. Finally, SG Americas Securities LLC boosted its holdings in StepStone Group by 399.3% in the third quarter. SG Americas Securities LLC now owns 12,024 shares of the company's stock worth $683,000 after acquiring an additional 9,616 shares in the last quarter. 55.54% of the stock is currently owned by institutional investors.

Insider Activity

In other StepStone Group news, CAO Anthony Keathley sold 729 shares of the firm's stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $68.85, for a total transaction of $50,191.65. Following the completion of the transaction, the chief accounting officer now owns 2,158 shares in the company, valued at $148,578.30. This trade represents a 25.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO David Y. Park sold 3,000 shares of StepStone Group stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $68.21, for a total transaction of $204,630.00. Following the completion of the transaction, the chief financial officer now owns 20,251 shares of the company's stock, valued at $1,381,320.71. This trade represents a 12.90 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 18.44% of the company's stock.

Analyst Ratings Changes

Several brokerages recently weighed in on STEP. The Goldman Sachs Group lifted their price target on StepStone Group from $64.00 to $70.50 and gave the company a "neutral" rating in a research report on Tuesday, November 19th. Evercore ISI boosted their price objective on StepStone Group from $52.00 to $55.00 and gave the stock an "outperform" rating in a research note on Monday, October 14th. Barclays upped their price target on StepStone Group from $51.00 to $61.00 and gave the company an "equal weight" rating in a research note on Monday, October 7th. UBS Group boosted their price objective on StepStone Group from $55.00 to $65.00 and gave the company a "neutral" rating in a report on Tuesday, October 22nd. Finally, Oppenheimer upped their price target on StepStone Group from $56.00 to $73.00 and gave the stock an "outperform" rating in a report on Wednesday, October 16th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, StepStone Group presently has a consensus rating of "Hold" and an average target price of $64.36.

StepStone Group Price Performance

STEP stock traded down $1.39 on Tuesday, reaching $63.41. The company's stock had a trading volume of 217,802 shares, compared to its average volume of 568,574. StepStone Group LP has a 52 week low of $25.06 and a 52 week high of $70.38. The company has a market capitalization of $7.30 billion, a P/E ratio of 108.00 and a beta of 1.27. The firm has a fifty day moving average of $61.97 and a two-hundred day moving average of $52.69.

StepStone Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be given a dividend of $0.24 per share. The ex-dividend date is Friday, November 29th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.51%. StepStone Group's dividend payout ratio (DPR) is presently 160.00%.

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.