Y Intercept Hong Kong Ltd Makes New $459,000 Investment in StepStone Group LP (NASDAQ:STEP)

Y Intercept Hong Kong Ltd purchased a new stake in StepStone Group LP (NASDAQ:STEP - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 7,922 shares of the company's stock, valued at approximately $459,000.

A number of other hedge funds also recently modified their holdings of the company. State Street Corp raised its stake in shares of StepStone Group by 12.4% in the third quarter. State Street Corp now owns 2,401,034 shares of the company's stock valued at $136,451,000 after purchasing an additional 265,240 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of StepStone Group by 17.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,457,690 shares of the company's stock valued at $82,856,000 after buying an additional 216,029 shares in the last quarter. FMR LLC lifted its holdings in shares of StepStone Group by 3.7% during the 3rd quarter. FMR LLC now owns 3,999,819 shares of the company's stock worth $227,310,000 after acquiring an additional 141,637 shares during the period. Principal Financial Group Inc. boosted its position in shares of StepStone Group by 43.3% during the 3rd quarter. Principal Financial Group Inc. now owns 417,845 shares of the company's stock valued at $23,746,000 after acquiring an additional 126,315 shares in the last quarter. Finally, Barclays PLC raised its position in StepStone Group by 368.2% in the third quarter. Barclays PLC now owns 112,019 shares of the company's stock worth $6,366,000 after purchasing an additional 88,095 shares in the last quarter. Institutional investors own 55.54% of the company's stock.

Insider Buying and Selling at StepStone Group

In other news, CAO Anthony Keathley sold 538 shares of StepStone Group stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $63.00, for a total transaction of $33,894.00. Following the completion of the sale, the chief accounting officer now owns 1,386 shares in the company, valued at $87,318. The trade was a 27.96 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Michael I. Mccabe sold 4,000 shares of the firm's stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $64.25, for a total transaction of $257,000.00. Following the completion of the transaction, the insider now directly owns 686,516 shares in the company, valued at approximately $44,108,653. The trade was a 0.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 36,629 shares of company stock worth $2,302,229. Insiders own 18.44% of the company's stock.

StepStone Group Stock Performance

Shares of NASDAQ STEP traded down $1.40 during trading on Monday, reaching $58.76. The company had a trading volume of 483,945 shares, compared to its average volume of 480,804. StepStone Group LP has a 52 week low of $32.58 and a 52 week high of $70.38. The business's 50 day moving average price is $61.09 and its 200-day moving average price is $59.99. The stock has a market cap of $6.81 billion, a PE ratio of -34.77 and a beta of 1.31.

StepStone Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 1.63%. The ex-dividend date of this dividend is Friday, February 28th. StepStone Group's dividend payout ratio is -56.80%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Evercore ISI upped their price objective on StepStone Group from $63.00 to $69.00 and gave the company an "outperform" rating in a research note on Monday, February 10th. The Goldman Sachs Group increased 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. Oppenheimer boosted their target price on shares of StepStone Group from $81.00 to $85.00 and gave the company an "outperform" rating in a research note on Friday, February 7th. Morgan Stanley upped 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. Finally, Barclays lifted their price target on shares of StepStone Group from $66.00 to $69.00 and gave the company an "equal weight" rating in a report on Friday, February 7th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $69.21.

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.