8,124 Shares in StepStone Group LP (NASDAQ:STEP) Bought by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. purchased a new stake in StepStone Group LP (NASDAQ:STEP - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 8,124 shares of the company's stock, valued at approximately $462,000.

Other institutional investors have also made changes to their positions in the company. ProShare Advisors LLC increased its position in shares of StepStone Group by 10.8% in the 1st quarter. ProShare Advisors LLC now owns 9,898 shares of the company's stock valued at $354,000 after buying an additional 963 shares in the last quarter. State Board of Administration of Florida Retirement System lifted its position in StepStone Group by 19.1% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 18,359 shares of the company's stock valued at $656,000 after acquiring an additional 2,950 shares in the last quarter. American International Group Inc. increased its holdings in StepStone Group by 1.2% during the 1st quarter. American International Group Inc. now owns 27,152 shares of the company's stock worth $970,000 after purchasing an additional 322 shares in the last quarter. MQS Management LLC acquired a new stake in shares of StepStone Group in the 1st quarter valued at about $243,000. Finally, Lazard Asset Management LLC lifted its holdings in shares of StepStone Group by 0.4% in the first quarter. Lazard Asset Management LLC now owns 288,459 shares of the company's stock valued at $10,309,000 after purchasing an additional 1,061 shares in the last quarter. 55.54% of the stock is owned by institutional investors and hedge funds.

Insider Activity at StepStone Group

In other StepStone Group news, CFO David Y. Park sold 3,000 shares of the company'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 approximately $1,381,320.71. This represents a 12.90 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Anthony Keathley sold 729 shares of the business's stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $68.85, for a total transaction of $50,191.65. Following the completion of the sale, the chief accounting officer now directly owns 2,158 shares in the company, valued at approximately $148,578.30. This represents a 25.25 % decrease in their position. The disclosure for this sale can be found here. 18.44% of the stock is currently owned by insiders.

StepStone Group Price Performance

NASDAQ:STEP traded down $0.05 during mid-day trading on Wednesday, reaching $65.25. The stock had a trading volume of 359,827 shares, compared to its average volume of 573,956. The stock has a 50-day simple moving average of $59.99 and a two-hundred day simple moving average of $51.10. StepStone Group LP has a 12 month low of $25.06 and a 12 month high of $70.38. The stock has a market capitalization of $7.51 billion, a PE ratio of 108.83 and a beta of 1.27.

StepStone Group Dividend Announcement

The firm 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 of this dividend is Friday, November 29th. This represents a $0.96 annualized dividend and a dividend yield of 1.47%. StepStone Group's dividend payout ratio is currently 160.00%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. UBS Group lifted their target price on StepStone Group from $55.00 to $65.00 and gave the company a "neutral" rating in a research report on Tuesday, October 22nd. The Goldman Sachs Group increased their price target on shares of StepStone Group from $64.00 to $70.50 and gave the company a "neutral" rating in a research note on Tuesday. Morgan Stanley boosted their target price on StepStone Group from $60.00 to $65.00 and gave the stock an "equal weight" rating in a report on Thursday, November 14th. Oppenheimer lifted their price objective on shares of StepStone Group from $56.00 to $73.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 16th. Finally, JPMorgan Chase & Co. upped their target price on StepStone Group from $56.00 to $61.00 and gave the company an "overweight" rating in a research report on Tuesday, October 1st. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $64.36.

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.