Swiss National Bank Has $7.35 Million Position in StepStone Group LP (NASDAQ:STEP)

Swiss National Bank boosted its holdings in StepStone Group LP (NASDAQ:STEP) by 12.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 126,900 shares of the company’s stock after acquiring an additional 14,100 shares during the quarter. Swiss National Bank’s holdings in StepStone Group were worth $7,345,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in STEP. Raymond James Financial Inc. bought a new stake in shares of StepStone Group in the 4th quarter valued at approximately $46,163,000. State Street Corp grew its position in StepStone Group by 12.4% in the third quarter. State Street Corp now owns 2,401,034 shares of the company’s stock valued at $136,451,000 after acquiring an additional 265,240 shares during the period. Geode Capital Management LLC raised its stake in StepStone Group by 17.4% during the third quarter. Geode Capital Management LLC now owns 1,457,690 shares of the company’s stock worth $82,856,000 after acquiring an additional 216,029 shares in the last quarter. FMR LLC lifted its holdings in shares of StepStone Group by 3.7% during the third quarter. FMR LLC now owns 3,999,819 shares of the company’s stock valued at $227,310,000 after acquiring an additional 141,637 shares during the period. Finally, Principal Financial Group Inc. boosted its stake in shares of StepStone Group by 43.3% in the 3rd quarter. Principal Financial Group Inc. now owns 417,845 shares of the company’s stock valued at $23,746,000 after purchasing an additional 126,315 shares in the last quarter. Institutional investors and hedge funds own 55.54% of the company’s stock.

StepStone Group Price Performance

Shares of StepStone Group stock opened at $53.87 on Friday. The firm has a 50 day simple moving average of $59.39 and a 200 day simple moving average of $59.96. StepStone Group LP has a fifty-two week low of $33.90 and a fifty-two week high of $70.38. The firm has a market cap of $6.25 billion, a P/E ratio of -31.88 and a beta of 1.33.

StepStone Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were paid a $0.24 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.96 annualized dividend and a dividend yield of 1.78%. StepStone Group’s dividend payout ratio (DPR) is currently -56.80%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on STEP shares. Oppenheimer increased their target price on shares of StepStone Group from $81.00 to $85.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Evercore ISI boosted their target price on StepStone Group from $63.00 to $69.00 and gave the stock an “outperform” rating in a report on Monday, February 10th. Finally, Barclays raised their price target on StepStone Group from $66.00 to $69.00 and gave the company an “equal weight” rating in a report on Friday, February 7th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, StepStone Group presently has an average rating of “Hold” and an average price target of $69.21.

Insider Transactions at StepStone Group

In other StepStone Group news, CAO Anthony Keathley sold 538 shares of the company’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $63.00, for a total transaction of $33,894.00. Following the transaction, the chief accounting officer now directly owns 1,386 shares in the company, valued at approximately $87,318. This represents a 27.96 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Scott W. Hart sold 10,000 shares of the firm’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $61.43, for a total transaction of $614,300.00. Following the completion of the transaction, the chief executive officer now directly owns 110,000 shares in the company, valued at $6,757,300. This trade represents a 8.33 % decrease in their position. The disclosure for this sale can be found here. 18.44% of the stock is currently owned by corporate 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.