Public Sector Pension Investment Board Acquires Shares of 114,485 StepStone Group LP (NASDAQ:STEP)

Public Sector Pension Investment Board purchased a new position in shares of StepStone Group LP (NASDAQ:STEP) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 114,485 shares of the company’s stock, valued at approximately $5,254,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Thrivent Financial for Lutherans increased its stake in StepStone Group by 333.4% in the 2nd quarter. Thrivent Financial for Lutherans now owns 126,617 shares of the company’s stock valued at $5,810,000 after buying an additional 97,401 shares during the period. Sei Investments Co. lifted its position in StepStone Group by 2.7% in the second quarter. Sei Investments Co. now owns 68,971 shares of the company’s stock valued at $3,165,000 after purchasing an additional 1,828 shares during the period. XTX Topco Ltd purchased a new stake in StepStone Group in the 2nd quarter valued at approximately $266,000. Amalgamated Bank raised its stake in shares of StepStone Group by 749.8% during the 2nd quarter. Amalgamated Bank now owns 16,001 shares of the company’s stock worth $734,000 after buying an additional 14,118 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of StepStone Group by 8.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 800,909 shares of the company’s stock valued at $36,753,000 after buying an additional 60,339 shares during the period. Institutional investors and hedge funds own 55.54% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on STEP. Barclays increased their price target on shares of StepStone Group from $46.00 to $51.00 and gave the company an “equal weight” rating in a report on Monday, August 12th. UBS Group lifted their price objective on StepStone Group from $44.00 to $55.00 and gave the stock a “neutral” rating in a report on Wednesday, August 21st. The Goldman Sachs Group raised their price target on StepStone Group from $46.00 to $51.50 and gave the company a “neutral” rating in a research report on Monday, August 12th. Evercore ISI upped their price target on shares of StepStone Group from $41.00 to $48.00 and gave the company an “outperform” rating in a report on Monday, July 15th. Finally, JPMorgan Chase & Co. upped their target price on shares of StepStone Group from $51.00 to $56.00 and gave the company an “overweight” rating in a report on Monday, August 12th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, StepStone Group presently has an average rating of “Hold” and a consensus price target of $45.88.

StepStone Group Trading Down 2.1 %

STEP stock opened at $56.69 on Thursday. The company has a market cap of $6.27 billion, a PE ratio of 62.99 and a beta of 1.28. The stock has a 50-day moving average price of $51.78 and a two-hundred day moving average price of $43.83. StepStone Group LP has a 12-month low of $25.06 and a 12-month high of $58.09.

StepStone Group (NASDAQ:STEP) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.48 EPS for the quarter, beating the consensus estimate of $0.35 by $0.13. The business had revenue of $186.40 million during the quarter, compared to analysts’ expectations of $181.15 million. During the same quarter in the previous year, the business posted $0.26 EPS. The company’s quarterly revenue was up 4.7% on a year-over-year basis. Equities analysts forecast that StepStone Group LP will post 1.83 EPS for the current fiscal year.

StepStone Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were given a $0.24 dividend. This is an increase from StepStone Group’s previous quarterly dividend of $0.21. The ex-dividend date was Friday, August 30th. This represents a $0.96 annualized dividend and a dividend yield of 1.69%. StepStone Group’s dividend payout ratio is presently 106.67%.

StepStone Group 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.