Stifel Financial Corp Has $2.38 Million Holdings in StepStone Group LP (NASDAQ:STEP)

Stifel Financial Corp lifted its stake in StepStone Group LP (NASDAQ:STEP - Free Report) by 28.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 41,916 shares of the company's stock after buying an additional 9,357 shares during the period. Stifel Financial Corp's holdings in StepStone Group were worth $2,382,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. SG Americas Securities LLC acquired a new stake in shares of StepStone Group during the 2nd quarter worth approximately $111,000. Louisiana State Employees Retirement System bought a new stake in StepStone Group in the 2nd quarter valued at $1,202,000. Bank of New York Mellon Corp raised its stake in shares of StepStone Group by 25.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,115,384 shares of the company's stock valued at $51,185,000 after buying an additional 225,201 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of StepStone Group by 991.1% during the 2nd quarter. Principal Financial Group Inc. now owns 291,530 shares of the company's stock valued at $13,378,000 after acquiring an additional 264,811 shares in the last quarter. Finally, Maryland State Retirement & Pension System bought a new stake in StepStone Group in the second quarter valued at about $832,000. 55.54% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently commented on STEP shares. UBS Group boosted their price target on StepStone Group from $55.00 to $65.00 and gave the company a "neutral" rating in a research note on Tuesday, October 22nd. JPMorgan Chase & Co. upped their price objective on StepStone Group from $56.00 to $61.00 and gave the stock an "overweight" rating in a report on Tuesday, October 1st. The Goldman Sachs Group boosted their price objective on StepStone Group from $64.00 to $70.50 and gave the stock a "neutral" rating in a report on Tuesday, November 19th. Morgan Stanley boosted their price target on shares of StepStone Group from $60.00 to $65.00 and gave the stock an "equal weight" rating in a research note on Thursday, November 14th. Finally, Evercore ISI lifted their target price on shares of StepStone Group from $52.00 to $55.00 and gave the stock an "outperform" rating in a report on Monday, October 14th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $66.64.

Insider Activity at StepStone Group

In other news, CFO David Y. Park sold 3,000 shares of the stock in a transaction dated 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 directly owns 20,251 shares in the company, valued at $1,381,320.71. This represents a 12.90 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Anthony Keathley sold 729 shares of StepStone Group stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $68.85, for a total value of $50,191.65. Following the transaction, the chief accounting officer now owns 2,158 shares of the company's stock, valued at $148,578.30. This represents a 25.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 29,820 shares of company stock worth $1,908,856. 18.44% of the stock is owned by company insiders.

StepStone Group Stock Up 1.8 %

StepStone Group stock traded up $1.05 during mid-day trading on Thursday, hitting $58.33. 671,638 shares of the company's stock were exchanged, compared to its average volume of 583,956. StepStone Group LP has a fifty-two week low of $29.17 and a fifty-two week high of $70.38. The firm has a market capitalization of $6.72 billion, a P/E ratio of 97.22 and a beta of 1.27. The company's 50 day simple moving average is $62.82 and its 200-day simple moving average is $54.55.

StepStone Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 1.65%. The ex-dividend date was Friday, November 29th. 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.