US Bancorp DE Boosts Position in StepStone Group LP (NASDAQ:STEP)

US Bancorp DE lifted its holdings in shares of StepStone Group LP (NASDAQ:STEP) by 442.7% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 966 shares of the company’s stock after buying an additional 788 shares during the period. US Bancorp DE’s holdings in StepStone Group were worth $55,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its holdings in StepStone Group by 291.1% during the 3rd quarter. GAMMA Investing LLC now owns 618 shares of the company’s stock valued at $35,000 after purchasing an additional 460 shares in the last quarter. Blue Trust Inc. increased 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 valued at $49,000 after buying an additional 809 shares during the last quarter. CWM LLC lifted its holdings in StepStone Group by 190.4% during the 3rd quarter. CWM LLC now owns 1,185 shares of the company’s stock worth $67,000 after buying an additional 777 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of StepStone Group in the 2nd quarter worth approximately $111,000. Finally, Acadian Asset Management LLC acquired a new stake in shares of StepStone Group during the second quarter worth $206,000. 55.54% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other StepStone Group news, CAO Anthony Keathley sold 729 shares of the business’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $68.85, for a total transaction of $50,191.65. Following the sale, the chief accounting officer now directly owns 2,158 shares of the company’s stock, valued at $148,578.30. The trade was a 25.25 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO David Y. Park sold 3,000 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now owns 20,251 shares of the company’s stock, valued at approximately $1,381,320.71. This represents a 12.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 18.44% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. UBS Group boosted their price objective on shares of StepStone Group from $55.00 to $65.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. Evercore ISI lifted their price target on StepStone Group from $52.00 to $55.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Oppenheimer raised their target price on StepStone Group from $56.00 to $73.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Morgan Stanley boosted their target price on StepStone Group from $60.00 to $65.00 and gave the stock an “equal weight” rating in a report on Thursday. Finally, Barclays boosted their target price on shares of StepStone Group from $51.00 to $61.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $62.43.

StepStone Group Stock Performance

Shares of STEP opened at $65.00 on Monday. The company has a market cap of $7.19 billion, a price-to-earnings ratio of 108.34 and a beta of 1.27. The stock has a fifty day moving average price of $59.47 and a two-hundred day moving average price of $50.70. StepStone Group LP has a 52-week low of $25.06 and a 52-week high of $70.38.

StepStone Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be given 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 1.48%. StepStone Group’s payout ratio is currently 160.00%.

StepStone Group Company 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.