WINTON GROUP Ltd Takes Position in StepStone Group LP (NASDAQ:STEP)

WINTON GROUP Ltd purchased a new stake in shares of StepStone Group LP (NASDAQ:STEP) in the second quarter, according to its most recent disclosure with the SEC. The firm purchased 19,537 shares of the company’s stock, valued at approximately $897,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wellington Management Group LLP boosted its position in StepStone Group by 9.8% in the 4th quarter. Wellington Management Group LLP now owns 6,994,497 shares of the company’s stock valued at $222,635,000 after buying an additional 627,059 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in StepStone Group by 150.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 850,463 shares of the company’s stock valued at $30,396,000 after purchasing an additional 510,283 shares during the last quarter. Principal Financial Group Inc. grew its stake in 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 purchasing an additional 264,811 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in StepStone Group by 25.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,115,384 shares of the company’s stock worth $51,185,000 after purchasing an additional 225,201 shares during the last quarter. Finally, Capital Research Global Investors increased its holdings in StepStone Group by 27.8% during the 4th quarter. Capital Research Global Investors now owns 628,532 shares of the company’s stock worth $20,006,000 after purchasing an additional 136,542 shares during the last quarter. Hedge funds and other institutional investors own 55.54% of the company’s stock.

StepStone Group Trading Up 2.5 %

Shares of NASDAQ:STEP opened at $53.14 on Tuesday. The firm’s 50 day moving average is $50.47 and its two-hundred day moving average is $42.78. The firm has a market capitalization of $5.88 billion, a P/E ratio of 59.05 and a beta of 1.28. StepStone Group LP has a 52 week low of $25.06 and a 52 week high of $56.18.

StepStone Group (NASDAQ:STEP) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.13. The business had revenue of $186.40 million during the quarter, compared to the consensus estimate of $181.15 million. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.26 EPS. Analysts predict that StepStone Group LP will post 1.83 EPS for the current year.

StepStone Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were issued a $0.24 dividend. The ex-dividend date was Friday, August 30th. This is a boost from StepStone Group’s previous quarterly dividend of $0.21. This represents a $0.96 annualized dividend and a dividend yield of 1.81%. StepStone Group’s dividend payout ratio (DPR) is 106.67%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Evercore ISI raised their price target on shares of StepStone Group from $41.00 to $48.00 and gave the stock an “outperform” rating in a research report on Monday, July 15th. Morgan Stanley boosted their target price on shares of StepStone Group from $43.00 to $52.00 and gave the stock an “equal weight” rating in a research report on Monday, August 19th. UBS Group lifted their price target on StepStone Group from $44.00 to $55.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 21st. The Goldman Sachs Group upped their price objective on StepStone Group from $46.00 to $51.50 and gave the company a “neutral” rating in a research note on Monday, August 12th. Finally, Barclays lifted their target price on StepStone Group from $46.00 to $51.00 and gave the stock an “equal weight” rating in a research report on Monday, August 12th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $45.88.

StepStone Group Company Profile

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.