Public Sector Pension Investment Board Has $7.55 Million Stake in StepStone Group LP (NASDAQ:STEP)

Public Sector Pension Investment Board grew its holdings in shares of StepStone Group LP (NASDAQ:STEP - Free Report) by 16.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 132,888 shares of the company's stock after buying an additional 18,403 shares during the period. Public Sector Pension Investment Board owned 0.12% of StepStone Group worth $7,552,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. FMR LLC increased its stake in StepStone Group by 3.7% during the 3rd quarter. FMR LLC now owns 3,999,819 shares of the company's stock valued at $227,310,000 after buying an additional 141,637 shares during the period. Bank of New York Mellon Corp raised its holdings 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 worth $51,185,000 after purchasing an additional 225,201 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in StepStone Group by 150.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 850,463 shares of the company's stock worth $30,396,000 after purchasing an additional 510,283 shares during the period. Dimensional Fund Advisors LP boosted its stake in StepStone Group by 8.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 800,909 shares of the company's stock valued at $36,753,000 after purchasing an additional 60,339 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of StepStone Group by 16.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 596,851 shares of the company's stock valued at $33,919,000 after purchasing an additional 84,762 shares during the period. Institutional investors own 55.54% of the company's stock.

Insider Activity at StepStone Group

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

StepStone Group Stock Performance

Shares of STEP stock traded up $0.09 during trading on Friday, hitting $65.89. 427,849 shares of the company were exchanged, compared to its average volume of 570,282. The firm has a market capitalization of $7.59 billion, a price-to-earnings ratio of 109.82 and a beta of 1.27. The business's 50-day simple moving average is $61.97 and its 200 day simple moving average is $52.49. StepStone Group LP has a twelve month low of $25.06 and a twelve month high of $70.38.

StepStone Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors 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 yield of 1.46%. StepStone Group's payout ratio is 160.00%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on STEP. Evercore ISI raised their target price on StepStone Group from $52.00 to $55.00 and gave the company an "outperform" rating in a research note on Monday, October 14th. Barclays lifted their price objective on shares of StepStone Group from $51.00 to $61.00 and gave the stock an "equal weight" rating in a research note on Monday, October 7th. Morgan Stanley raised their target price on shares of StepStone Group from $60.00 to $65.00 and gave the stock an "equal weight" rating in a report on Thursday, November 14th. UBS Group upped their price target on StepStone Group from $55.00 to $65.00 and gave the company a "neutral" rating in a report on Tuesday, October 22nd. Finally, The Goldman Sachs Group raised their price objective on StepStone Group from $64.00 to $70.50 and gave the stock a "neutral" rating in a research note on Tuesday, November 19th. Four 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, StepStone Group currently has a consensus rating of "Hold" and a consensus price target of $64.36.

StepStone Group 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.