StepStone Group LP (NASDAQ:STEP) Shares Purchased by Fmr LLC

Fmr LLC boosted its holdings in StepStone Group LP (NASDAQ:STEP) by 3.7% during the third quarter, HoldingsChannel.com reports. The fund owned 3,999,819 shares of the company’s stock after acquiring an additional 141,637 shares during the period. Fmr LLC’s holdings in StepStone Group were worth $227,310,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Amalgamated Bank lifted its holdings in shares of StepStone Group by 749.8% in the 2nd quarter. Amalgamated Bank now owns 16,001 shares of the company’s stock worth $734,000 after purchasing an additional 14,118 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in shares of StepStone Group by 991.1% during the second quarter. Principal Financial Group Inc. now owns 291,530 shares of the company’s stock valued at $13,378,000 after acquiring an additional 264,811 shares during the period. Public Sector Pension Investment Board bought a new position in shares of StepStone Group during the second quarter worth about $5,254,000. Bank of New York Mellon Corp grew its position in shares of StepStone Group by 25.3% during 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 acquiring an additional 225,201 shares during the last quarter. Finally, SG Americas Securities LLC increased its holdings in shares of StepStone Group by 399.3% in the 3rd quarter. SG Americas Securities LLC now owns 12,024 shares of the company’s stock worth $683,000 after acquiring an additional 9,616 shares during the period. 55.54% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

STEP has been the subject of a number of analyst reports. Evercore ISI boosted their target price on shares of StepStone Group from $52.00 to $55.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. The Goldman Sachs Group boosted their price objective on StepStone Group from $64.00 to $70.50 and gave the stock a “neutral” rating in a research report on Tuesday, November 19th. Morgan Stanley raised their target price on StepStone Group from $60.00 to $65.00 and gave the company an “equal weight” rating in a research report on Thursday, November 14th. Barclays boosted their price target on StepStone Group from $51.00 to $61.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. Finally, UBS Group raised their price target on StepStone Group from $55.00 to $65.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Four 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, the stock currently has a consensus rating of “Hold” and an average price target of $64.36.

Insider Buying and Selling

In other StepStone Group news, CAO Anthony Keathley sold 729 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $68.85, for a total value of $50,191.65. Following the completion of the transaction, the chief accounting officer now directly owns 2,158 shares in the company, valued at $148,578.30. This trade represents a 25.25 % decrease in their ownership of the stock. 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 business’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 transaction of $204,630.00. Following the sale, the chief financial officer now owns 20,251 shares in the company, valued at $1,381,320.71. This represents a 12.90 % decrease in their position. The disclosure for this sale can be found here. Insiders own 18.44% of the company’s stock.

StepStone Group Stock Performance

STEP opened at $64.80 on Tuesday. The stock’s fifty day moving average is $61.97 and its 200-day moving average is $52.69. StepStone Group LP has a one year low of $25.06 and a one year high of $70.38. The company has a market capitalization of $7.46 billion, a PE ratio of 108.00 and a beta of 1.27.

StepStone Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be issued a $0.24 dividend. The ex-dividend date 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 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.