StepStone Group LP (NASDAQ:STEP) Shares Bought by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky raised its holdings in StepStone Group LP (NASDAQ:STEP - Free Report) by 399.7% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 52,973 shares of the company's stock after buying an additional 42,373 shares during the quarter. Teachers Retirement System of The State of Kentucky's holdings in StepStone Group were worth $3,010,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC raised its holdings in StepStone Group by 291.1% in the 3rd quarter. GAMMA Investing LLC now owns 618 shares of the company's stock worth $35,000 after purchasing an additional 460 shares during the period. Blue Trust Inc. raised its stake in shares of StepStone Group by 1,586.3% during the 3rd quarter. Blue Trust Inc. now owns 860 shares of the company's stock worth $49,000 after buying an additional 809 shares during the period. US Bancorp DE lifted its position in shares of StepStone Group by 442.7% during the 3rd quarter. US Bancorp DE now owns 966 shares of the company's stock valued at $55,000 after buying an additional 788 shares in the last quarter. Harvest Fund Management Co. Ltd purchased a new position in shares of StepStone Group during the 3rd quarter valued at approximately $63,000. Finally, CWM LLC grew its stake in StepStone Group by 190.4% in the 3rd quarter. CWM LLC now owns 1,185 shares of the company's stock valued at $67,000 after acquiring an additional 777 shares during the period. Institutional investors and hedge funds own 55.54% of the company's stock.

Analyst Upgrades and Downgrades

STEP has been the topic of several recent analyst reports. The Goldman Sachs Group increased their price objective on shares of StepStone Group from $64.00 to $70.50 and gave the company a "neutral" rating in a report on Tuesday, November 19th. UBS Group raised their price target on shares of 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. boosted their price objective on StepStone Group from $56.00 to $61.00 and gave the stock an "overweight" rating in a research note on Tuesday, October 1st. Oppenheimer raised their target price on StepStone Group from $73.00 to $84.00 and gave the company an "outperform" rating in a research report on Thursday. Finally, Barclays dropped their price target on StepStone Group from $72.00 to $66.00 and set an "equal weight" rating for the company in a research report on Monday, December 9th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $66.64.

Insider Activity

In other news, CAO Anthony Keathley sold 729 shares of the firm'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 transaction, the chief accounting officer now directly 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO David Y. Park sold 3,000 shares of the stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $68.21, for a total value of $204,630.00. Following the transaction, the chief financial officer now directly owns 20,251 shares in the company, valued at approximately $1,381,320.71. The trade was a 12.90 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 29,820 shares of company stock valued at $1,908,856 in the last quarter. Insiders own 18.44% of the company's stock.

StepStone Group Stock Down 0.1 %

Shares of StepStone Group stock traded down $0.06 during mid-day trading on Friday, hitting $61.95. The stock had a trading volume of 641,077 shares, compared to its average volume of 612,505. The firm has a 50-day moving average of $62.76 and a two-hundred day moving average of $54.18. The firm has a market cap of $7.13 billion, a P/E ratio of 103.25 and a beta of 1.27. StepStone Group LP has a 12-month low of $28.35 and a 12-month high of $70.38.

StepStone Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 29th were given a $0.24 dividend. The ex-dividend date was Friday, November 29th. This represents a $0.96 dividend on an annualized basis and a yield of 1.55%. StepStone Group's dividend payout ratio is currently 160.00%.

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.