Sei Investments Co. Acquires 1,828 Shares of StepStone Group LP (NASDAQ:STEP)

Sei Investments Co. grew its holdings in StepStone Group LP (NASDAQ:STEP) by 2.7% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 68,971 shares of the company’s stock after buying an additional 1,828 shares during the quarter. Sei Investments Co. owned approximately 0.06% of StepStone Group worth $3,165,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Wellington Management Group LLP raised its stake in shares of StepStone Group by 9.8% in the fourth quarter. Wellington Management Group LLP now owns 6,994,497 shares of the company’s stock worth $222,635,000 after acquiring an additional 627,059 shares during the last quarter. Vanguard Group Inc. raised its position in shares of StepStone Group by 1.8% during the fourth quarter. Vanguard Group Inc. now owns 5,270,144 shares of the company’s stock worth $167,749,000 after acquiring an additional 90,974 shares during the last quarter. Wasatch Advisors LP lifted its stake in shares of StepStone Group by 1.6% during the first quarter. Wasatch Advisors LP now owns 2,948,665 shares of the company’s stock valued at $105,385,000 after acquiring an additional 46,860 shares during the period. Bank of New York Mellon Corp increased its position in StepStone Group by 25.3% in the second 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 period. Finally, Price T Rowe Associates Inc. MD lifted its position in StepStone Group by 150.0% during the 1st 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 period. 55.54% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently weighed in on STEP. Morgan Stanley boosted their price target on shares of StepStone Group from $43.00 to $52.00 and gave the stock an “equal weight” rating in a research note on Monday, August 19th. Barclays raised their price target 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. UBS Group upped their price objective on StepStone Group from $44.00 to $55.00 and gave the company a “neutral” rating in a report on Wednesday, August 21st. Evercore ISI raised their target price on StepStone Group from $41.00 to $48.00 and gave the stock an “outperform” rating in a report on Monday, July 15th. Finally, The Goldman Sachs Group upped their price target on StepStone Group from $51.50 to $57.00 and gave the company a “neutral” rating in a research note on Monday. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $47.19.

StepStone Group Stock Performance

Shares of STEP opened at $59.72 on Friday. The stock has a 50 day simple moving average of $52.89 and a 200 day simple moving average of $44.77. StepStone Group LP has a 52-week low of $25.06 and a 52-week high of $60.00. The firm has a market capitalization of $6.61 billion, a PE ratio of 66.36 and a beta of 1.28.

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

StepStone Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date was Friday, August 30th. This is a boost from StepStone Group’s previous quarterly dividend of $0.21. StepStone Group’s dividend payout ratio is 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.