Amalgamated Bank Increases Stock Holdings in StepStone Group LP (NASDAQ:STEP)

Amalgamated Bank boosted its stake in StepStone Group LP (NASDAQ:STEP) by 15.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 18,453 shares of the company’s stock after acquiring an additional 2,452 shares during the period. Amalgamated Bank’s holdings in StepStone Group were worth $1,049,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. GAMMA Investing LLC raised its position in shares of StepStone Group by 291.1% in the 3rd quarter. GAMMA Investing LLC now owns 618 shares of the company’s stock worth $35,000 after acquiring an additional 460 shares in the last quarter. Blue Trust Inc. raised its holdings in StepStone Group by 1,586.3% in the third quarter. Blue Trust Inc. now owns 860 shares of the company’s stock worth $49,000 after purchasing an additional 809 shares in the last quarter. US Bancorp DE lifted its position in StepStone Group by 442.7% during the third quarter. US Bancorp DE now owns 966 shares of the company’s stock valued at $55,000 after buying an additional 788 shares during the period. CWM LLC boosted its holdings in shares of StepStone Group by 190.4% during the 3rd quarter. CWM LLC now owns 1,185 shares of the company’s stock valued at $67,000 after buying an additional 777 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new stake in shares of StepStone Group in the 2nd quarter worth about $111,000. 55.54% of the stock is owned by hedge funds and other institutional investors.

StepStone Group Price Performance

Shares of STEP stock opened at $64.12 on Thursday. The company has a market cap of $7.09 billion, a price-to-earnings ratio of 110.19 and a beta of 1.27. StepStone Group LP has a 1 year low of $25.06 and a 1 year high of $70.38. The firm has a fifty day moving average price of $58.78 and a 200-day moving average price of $50.09.

StepStone Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 1.50%. The ex-dividend date of this dividend is Friday, November 29th. StepStone Group’s dividend payout ratio is presently 160.00%.

Insiders Place Their Bets

In other StepStone Group news, CAO Anthony Keathley sold 729 shares of StepStone Group stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $68.85, for a total transaction of $50,191.65. Following the transaction, the chief accounting officer now owns 2,158 shares of the company’s stock, valued at $148,578.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO David Y. Park sold 3,000 shares of StepStone Group stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $68.21, for a total transaction of $204,630.00. Following the sale, the chief financial officer now owns 20,251 shares of the company’s stock, valued at approximately $1,381,320.71. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Anthony Keathley sold 729 shares of the business’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $68.85, for a total transaction of $50,191.65. Following the completion of the sale, the chief accounting officer now owns 2,158 shares in the company, valued at approximately $148,578.30. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 18.44% of the company’s stock.

Analyst Upgrades and Downgrades

STEP has been the subject of a number of recent research reports. Oppenheimer lifted their price target on shares of StepStone Group from $56.00 to $73.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. The Goldman Sachs Group lifted their target price on shares of StepStone Group from $51.50 to $57.00 and gave the company a “neutral” rating in a report on Monday, September 30th. Evercore ISI upped their price target on StepStone Group from $52.00 to $55.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. JPMorgan Chase & Co. raised their price objective on StepStone Group from $56.00 to $61.00 and gave the company an “overweight” rating in a research report on Tuesday, October 1st. Finally, Morgan Stanley boosted their target price on StepStone Group from $52.00 to $60.00 and gave the stock an “equal weight” rating in a report on Thursday, October 10th. Four 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, StepStone Group has an average rating of “Hold” and an average price target of $61.71.

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.