Wellington Management Group LLP Buys 627,059 Shares of StepStone Group LP (NASDAQ:STEP)

Wellington Management Group LLP grew its stake in StepStone Group LP (NASDAQ:STEP) by 9.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,994,497 shares of the company’s stock after purchasing an additional 627,059 shares during the period. Wellington Management Group LLP owned approximately 6.34% of StepStone Group worth $222,635,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Quest Partners LLC bought a new stake in shares of StepStone Group in the 4th quarter valued at approximately $442,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of StepStone Group by 34.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,510 shares of the company’s stock valued at $494,000 after purchasing an additional 3,937 shares during the last quarter. Victory Capital Management Inc. lifted its stake in shares of StepStone Group by 41.7% during the 4th quarter. Victory Capital Management Inc. now owns 16,402 shares of the company’s stock worth $522,000 after acquiring an additional 4,829 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of StepStone Group by 3.0% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 24,644 shares of the company’s stock worth $784,000 after acquiring an additional 722 shares during the last quarter. Finally, New York State Common Retirement Fund lifted its stake in shares of StepStone Group by 7.9% during the 4th quarter. New York State Common Retirement Fund now owns 24,858 shares of the company’s stock worth $791,000 after acquiring an additional 1,818 shares during the last quarter. 55.54% of the stock is owned by institutional investors.

Insider Transactions at StepStone Group

In other news, Director Steven R. Mitchell sold 27,500 shares of the business’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $44.34, for a total value of $1,219,350.00. Following the completion of the transaction, the director now directly owns 9,159 shares of the company’s stock, valued at approximately $406,110.06. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, Director Steven R. Mitchell sold 27,500 shares of the business’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $44.34, for a total value of $1,219,350.00. Following the completion of the transaction, the director now directly owns 9,159 shares of the company’s stock, valued at approximately $406,110.06. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director David F. Hoffmeister bought 22,500 shares of StepStone Group stock in a transaction that occurred on Thursday, May 30th. The shares were acquired at an average cost of $44.29 per share, for a total transaction of $996,525.00. Following the completion of the transaction, the director now directly owns 45,853 shares in the company, valued at $2,030,829.37. The disclosure for this purchase can be found here. Corporate insiders own 18.50% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Barclays raised their price target on StepStone Group from $38.00 to $42.00 and gave the stock an “equal weight” rating in a research note on Friday, May 24th. UBS Group raised their price target on StepStone Group from $37.00 to $38.00 and gave the stock a “neutral” rating in a research note on Friday, April 12th. Oppenheimer assumed coverage on StepStone Group in a research note on Wednesday, March 20th. They set an “outperform” rating and a $48.00 price target for the company. Finally, JPMorgan Chase & Co. raised StepStone Group from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $40.00 to $49.00 in a research note on Thursday, April 11th. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $35.79.

StepStone Group Trading Up 0.0 %

Shares of STEP stock opened at $43.09 on Wednesday. StepStone Group LP has a twelve month low of $22.98 and a twelve month high of $46.82. The stock has a market capitalization of $4.77 billion, a price-to-earnings ratio of 47.88 and a beta of 1.27. The stock has a fifty day simple moving average of $39.16 and a two-hundred day simple moving average of $35.08.

StepStone Group (NASDAQ:STEP) last issued its earnings results on Thursday, May 23rd. The company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.05. The firm had revenue of $177.36 million during the quarter, compared to analysts’ expectations of $162.47 million. During the same quarter in the prior year, the company posted $0.24 earnings per share. StepStone Group’s quarterly revenue was up 16.0% compared to the same quarter last year. Research analysts predict that StepStone Group LP will post 1.7 EPS for the current fiscal year.

StepStone Group Cuts Dividend

The business also recently declared a Variable dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be given a $0.36 dividend. This represents a dividend yield of 1.9%. The ex-dividend date of this dividend is Friday, June 14th. StepStone Group’s payout ratio is 93.33%.

About StepStone Group

StepStone Group LP. is an investment firm specializing in direct, fund of funds, secondary direct, and secondary indirect investments. For direct investment, it seeks to invest in venture debt, incubation, mezzanine, distressed/vulture, seed/startup, early venture, mid venture, late venture, emerging growth, later stage, turnaround, growth capital, industry consolidation, recapitalization, private equity and buyout investments in mature and middle market companies.