Cibc World Markets Corp Invests $355,000 in StepStone Group LP (NASDAQ:STEP)

Cibc World Markets Corp bought a new stake in StepStone Group LP (NASDAQ:STEP) during the fourth quarter, Holdings Channel reports. The firm bought 6,142 shares of the company’s stock, valued at approximately $355,000.

Several other institutional investors have also recently bought and sold shares of the company. Steward Partners Investment Advisory LLC bought a new stake in StepStone Group during the fourth quarter valued at about $27,000. Raleigh Capital Management Inc. bought a new stake in StepStone Group during the 4th quarter valued at approximately $29,000. IFP Advisors Inc bought a new stake in StepStone Group during the 4th quarter valued at approximately $36,000. Amundi increased its position in StepStone Group by 26.7% in the 4th quarter. Amundi now owns 730 shares of the company’s stock worth $42,000 after buying an additional 154 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in shares of StepStone Group by 36.6% during the fourth quarter. GAMMA Investing LLC now owns 844 shares of the company’s stock worth $49,000 after buying an additional 226 shares during the last quarter. Institutional investors own 55.54% of the company’s stock.

Wall Street Analyst Weigh In

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

StepStone Group Stock Performance

Shares of StepStone Group stock opened at $56.54 on Tuesday. The firm has a market cap of $6.56 billion, a P/E ratio of -33.46 and a beta of 1.33. The firm’s 50-day simple moving average is $59.37 and its 200-day simple moving average is $60.02. StepStone Group LP has a twelve month low of $33.90 and a twelve month high of $70.38.

StepStone Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date of this dividend was Friday, February 28th. StepStone Group’s payout ratio is -56.80%.

Insider Activity

In other 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 value of $33,894.00. Following the sale, the chief accounting officer now owns 1,386 shares of the company’s stock, valued at approximately $87,318. This represents a 27.96 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Scott W. Hart sold 10,000 shares of the stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $61.43, for a total transaction of $614,300.00. Following the sale, the chief executive officer now owns 110,000 shares of the company’s stock, valued at $6,757,300. This trade represents a 8.33 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 18.44% of the company’s stock.

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.