Intech Investment Management LLC Invests $850,000 in StepStone Group LP (NASDAQ:STEP)

Intech Investment Management LLC acquired a new position in StepStone Group LP (NASDAQ:STEP) in the third quarter, HoldingsChannel.com reports. The institutional investor acquired 14,964 shares of the company’s stock, valued at approximately $850,000.

Other institutional investors also recently modified their holdings of the company. American International Group Inc. raised its position in shares of StepStone Group by 1.2% in the 1st quarter. American International Group Inc. now owns 27,152 shares of the company’s stock valued at $970,000 after acquiring an additional 322 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in StepStone Group by 150.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 850,463 shares of the company’s stock worth $30,396,000 after purchasing an additional 510,283 shares during the period. SG Americas Securities LLC bought a new position in shares of StepStone Group during the second quarter worth about $111,000. Louisiana State Employees Retirement System bought a new position in shares of StepStone Group during the 2nd quarter worth approximately $1,202,000. Finally, Bank of New York Mellon Corp increased its stake in StepStone Group by 25.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,115,384 shares of the company’s stock valued at $51,185,000 after buying an additional 225,201 shares during the last quarter. Institutional investors and hedge funds own 55.54% of the company’s stock.

StepStone Group Price Performance

StepStone Group stock opened at $66.04 on Friday. The firm has a market capitalization of $7.61 billion, a P/E ratio of 110.07 and a beta of 1.27. StepStone Group LP has a one year low of $25.06 and a one year high of $70.38. The business has a fifty day moving average price of $61.58 and a 200-day moving average price of $52.20.

StepStone Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be given a dividend of $0.24 per share. The ex-dividend date is Friday, November 29th. This represents a $0.96 dividend on an annualized basis and a yield of 1.45%. StepStone Group’s payout ratio is 160.00%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on STEP shares. Oppenheimer boosted their price objective on shares of StepStone Group from $56.00 to $73.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. JPMorgan Chase & Co. increased their target price on shares of StepStone Group from $56.00 to $61.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 1st. Barclays increased their price objective on shares of StepStone Group from $51.00 to $61.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. Morgan Stanley raised their price target on shares of StepStone Group from $60.00 to $65.00 and gave the company an “equal weight” rating in a research note on Thursday, November 14th. Finally, Evercore ISI boosted their price objective on StepStone Group from $52.00 to $55.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, StepStone Group has a consensus rating of “Hold” and an average target price of $64.36.

Insider Buying and Selling at StepStone Group

In related news, CAO Anthony Keathley sold 729 shares of the company’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $68.85, for a total transaction of $50,191.65. Following the completion of the sale, the chief accounting officer now directly owns 2,158 shares in the company, valued at $148,578.30. This represents a 25.25 % decrease in their position. The transaction 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 dated Tuesday, November 12th. The shares were sold at an average price of $68.21, for a total transaction of $204,630.00. Following the completion of the transaction, the chief financial officer now owns 20,251 shares in the company, valued at $1,381,320.71. The trade was a 12.90 % decrease in their position. The disclosure for this sale can be found here. Company 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.