StepStone Group LP (NASDAQ:STEP) Stock Holdings Lifted by Rhumbline Advisers

Rhumbline Advisers lifted its holdings in shares of StepStone Group LP (NASDAQ:STEP) by 101.5% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 150,528 shares of the company’s stock after buying an additional 75,824 shares during the period. Rhumbline Advisers owned 0.14% of StepStone Group worth $6,908,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Charles Schwab Investment Management Inc. lifted its stake in StepStone Group by 8.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 563,606 shares of the company’s stock valued at $17,940,000 after purchasing an additional 46,107 shares during the last quarter. Los Angeles Capital Management LLC lifted its position in shares of StepStone Group by 74.3% during the 1st quarter. Los Angeles Capital Management LLC now owns 50,099 shares of the company’s stock valued at $1,791,000 after acquiring an additional 21,354 shares during the last quarter. Capital Research Global Investors boosted its stake in shares of StepStone Group by 27.8% during the 4th quarter. Capital Research Global Investors now owns 628,532 shares of the company’s stock worth $20,006,000 after acquiring an additional 136,542 shares in the last quarter. Victory Capital Management Inc. grew its holdings in shares of StepStone Group by 41.7% in the 4th quarter. Victory Capital Management Inc. now owns 16,402 shares of the company’s stock worth $522,000 after acquiring an additional 4,829 shares during the last quarter. Finally, Wellington Management Group LLP raised its position in shares of StepStone Group by 9.8% during the fourth quarter. Wellington Management Group LLP now owns 6,994,497 shares of the company’s stock worth $222,635,000 after purchasing an additional 627,059 shares during the period. Institutional investors and hedge funds own 55.54% of the company’s stock.

Analyst Upgrades and Downgrades

STEP has been the topic of a number of recent analyst reports. Barclays boosted their price target on shares of StepStone Group from $46.00 to $51.00 and gave the company an “equal weight” rating in a report on Monday, August 12th. Evercore ISI boosted their target price on shares of StepStone Group from $41.00 to $48.00 and gave the company an “outperform” rating in a research note on Monday, July 15th. UBS Group raised their target price on StepStone Group from $44.00 to $55.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 21st. JPMorgan Chase & Co. increased their price objective on StepStone Group from $51.00 to $56.00 and gave the stock an “overweight” rating in a research note on Monday, August 12th. Finally, The Goldman Sachs Group raised their price objective on StepStone Group from $46.00 to $51.50 and gave the stock a “neutral” rating in a research report on Monday, August 12th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, StepStone Group has an average rating of “Hold” and a consensus price target of $45.88.

StepStone Group Stock Performance

Shares of STEP opened at $51.82 on Friday. The firm has a market cap of $5.73 billion, a P/E ratio of 57.58 and a beta of 1.28. StepStone Group LP has a twelve month low of $25.06 and a twelve month high of $56.18. The firm’s 50 day moving average price is $50.29 and its two-hundred day moving average price is $42.55.

StepStone Group (NASDAQ:STEP) last announced its earnings results on Thursday, August 8th. The company reported $0.48 EPS for the quarter, topping the consensus estimate of $0.35 by $0.13. The business had revenue of $186.40 million for the quarter, compared to analyst estimates of $181.15 million. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.26 EPS. On average, sell-side analysts anticipate that StepStone Group LP will post 1.83 earnings per share for the current fiscal year.

StepStone Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were paid a $0.24 dividend. The ex-dividend date of this dividend was Friday, August 30th. This is an increase from StepStone Group’s previous quarterly dividend of $0.21. This represents a $0.96 annualized dividend and a dividend yield of 1.85%. StepStone Group’s dividend payout ratio is 106.67%.

StepStone Group Company Profile

StepStone Group LP. is an investment firm specializing in direct, fund of funds, secondary direct, and secondary indirect investments. For direct investment, it seeks to invest in venture debt, incubation, mezzanine, distressed/vulture, seed/startup, early venture, mid venture, late venture, emerging growth, later stage, turnaround, growth capital, industry consolidation, recapitalization, private equity and buyout investments in mature and middle market companies.