State of Alaska Department of Revenue Purchases 2,599 Shares of StepStone Group LP (NASDAQ:STEP)

State of Alaska Department of Revenue boosted its position in StepStone Group LP (NASDAQ:STEP) by 7.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 35,937 shares of the company’s stock after acquiring an additional 2,599 shares during the period. State of Alaska Department of Revenue’s holdings in StepStone Group were worth $2,080,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of STEP. GAMMA Investing LLC grew its stake in shares of StepStone Group by 291.1% in the third 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. CWM LLC grew its position in shares of StepStone Group by 190.4% in 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. Creative Planning increased its stake in shares of StepStone Group by 20.7% during the third quarter. Creative Planning now owns 22,547 shares of the company’s stock valued at $1,281,000 after buying an additional 3,873 shares during the period. Blue Trust Inc. raised its holdings 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 valued at $49,000 after acquiring an additional 809 shares in the last quarter. Finally, Everence Capital Management Inc. bought a new position in shares of StepStone Group during the third quarter valued at approximately $347,000. Hedge funds and other institutional investors own 55.54% of the company’s stock.

Insiders Place Their Bets

In related news, insider Michael I. Mccabe sold 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $64.25, for a total value of $257,000.00. Following the completion of the transaction, the insider now directly owns 686,516 shares in the company, valued at $44,108,653. The trade was a 0.58 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Scott W. Hart sold 22,091 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $63.24, for a total value of $1,397,034.84. Following the completion of the transaction, the chief executive officer now directly owns 157,909 shares in the company, valued at $9,986,165.16. This trade represents a 12.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 18.44% of the company’s stock.

StepStone Group Stock Performance

STEP stock opened at $59.94 on Wednesday. The firm has a 50 day moving average price of $61.27 and a 200-day moving average price of $58.82. StepStone Group LP has a 52-week low of $32.58 and a 52-week high of $70.38. The firm has a market capitalization of $6.90 billion, a price-to-earnings ratio of -35.47 and a beta of 1.31.

StepStone Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date of this dividend is Friday, February 28th. StepStone Group’s payout ratio is -56.80%.

Wall Street Analysts Forecast Growth

STEP has been the topic of a number of research analyst reports. Barclays boosted their price objective on shares of StepStone Group from $66.00 to $69.00 and gave the company an “equal weight” rating in a research report on Friday, February 7th. Evercore ISI increased their price target on shares of StepStone Group from $63.00 to $69.00 and gave the stock an “outperform” rating in a research note on Monday. Oppenheimer raised their price objective on shares of StepStone Group from $81.00 to $85.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. UBS Group increased their target price on StepStone Group from $55.00 to $65.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. Finally, The Goldman Sachs Group lifted their price target on StepStone Group from $64.00 to $70.50 and gave the company a “neutral” rating in a research report on Tuesday, November 19th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $69.21.

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.