StepStone Group LP (NASDAQ:STEP) Shares Acquired by Principal Financial Group Inc.

Principal Financial Group Inc. increased its holdings in shares of StepStone Group LP (NASDAQ:STEP) by 43.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 417,845 shares of the company’s stock after acquiring an additional 126,315 shares during the quarter. Principal Financial Group Inc.’s holdings in StepStone Group were worth $23,746,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of STEP. GAMMA Investing LLC grew its position in 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 purchasing an additional 460 shares during the last quarter. Blue Trust Inc. boosted its position in shares of StepStone Group by 1,586.3% during the third quarter. Blue Trust Inc. now owns 860 shares of the company’s stock worth $49,000 after buying an additional 809 shares during the period. US Bancorp DE grew its holdings in StepStone Group by 442.7% in the 3rd quarter. US Bancorp DE now owns 966 shares of the company’s stock worth $55,000 after buying an additional 788 shares in the last quarter. CWM LLC increased its position in StepStone Group by 190.4% in the 3rd quarter. CWM LLC now owns 1,185 shares of the company’s stock valued at $67,000 after acquiring an additional 777 shares during the period. Finally, SG Americas Securities LLC acquired a new position in shares of StepStone Group during the second quarter valued at $111,000. Institutional investors own 55.54% of the company’s stock.

StepStone Group Trading Down 5.7 %

NASDAQ STEP opened at $64.12 on Thursday. StepStone Group LP has a 1 year low of $25.06 and a 1 year high of $70.38. The company has a market cap of $7.09 billion, a PE ratio of 106.87 and a beta of 1.27. The stock’s 50-day moving average price is $58.78 and its two-hundred day moving average price is $50.09.

StepStone Group Announces Dividend

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

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on STEP shares. Barclays increased their price objective on shares of StepStone Group from $51.00 to $61.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. Oppenheimer raised their target price on StepStone Group from $56.00 to $73.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Evercore ISI lifted their target price on StepStone Group from $52.00 to $55.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. JPMorgan Chase & Co. upped their price target on shares of StepStone Group from $56.00 to $61.00 and gave the company an “overweight” rating in a report on Tuesday, October 1st. Finally, The Goldman Sachs Group lifted their price objective on shares of StepStone Group from $51.50 to $57.00 and gave the stock a “neutral” rating in a research note on Monday, September 30th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, StepStone Group currently has a consensus rating of “Hold” and a consensus target price of $61.71.

Insider Activity at StepStone Group

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 directly owns 2,158 shares in the company, valued at approximately $148,578.30. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CAO Anthony Keathley sold 729 shares of StepStone Group 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 transaction, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO David Y. Park sold 3,000 shares of the company’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $68.21, for a total value of $204,630.00. Following the transaction, the chief financial officer now directly owns 20,251 shares in the company, valued at $1,381,320.71. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 18.44% of the stock is owned by insiders.

StepStone Group Profile

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.