StepStone Group LP (NASDAQ:STEP) Shares Purchased by Public Sector Pension Investment Board

Public Sector Pension Investment Board boosted its position in StepStone Group LP (NASDAQ:STEP) by 16.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 132,888 shares of the company’s stock after purchasing an additional 18,403 shares during the quarter. Public Sector Pension Investment Board owned about 0.12% of StepStone Group worth $7,552,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its holdings in StepStone Group by 291.1% in the 3rd quarter. GAMMA Investing LLC now owns 618 shares of the company’s stock valued at $35,000 after buying an additional 460 shares during the period. Blue Trust Inc. grew its holdings in shares of StepStone Group by 1,586.3% during the 3rd quarter. Blue Trust Inc. now owns 860 shares of the company’s stock worth $49,000 after purchasing an additional 809 shares during the period. US Bancorp DE grew its holdings in shares of StepStone Group by 442.7% during the 3rd quarter. US Bancorp DE now owns 966 shares of the company’s stock worth $55,000 after purchasing an additional 788 shares during the period. Harvest Fund Management Co. Ltd purchased a new stake in shares of StepStone Group during the 3rd quarter worth about $63,000. Finally, CWM LLC grew its holdings in shares of StepStone Group by 190.4% during the 3rd quarter. CWM LLC now owns 1,185 shares of the company’s stock worth $67,000 after purchasing an additional 777 shares during the period. Institutional investors and hedge funds own 55.54% of the company’s stock.

StepStone Group Stock Up 0.1 %

Shares of STEP opened at $65.89 on Friday. The business’s 50 day moving average is $61.97 and its two-hundred day moving average is $52.49. StepStone Group LP has a 52-week low of $25.06 and a 52-week high of $70.38. The firm has a market cap of $7.59 billion, a price-to-earnings ratio of 109.82 and a beta of 1.27.

StepStone Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date of this dividend is Friday, November 29th. StepStone Group’s payout ratio is 160.00%.

Analysts Set New Price Targets

STEP has been the subject of a number of research reports. JPMorgan Chase & Co. boosted their target price on StepStone Group from $56.00 to $61.00 and gave the stock an “overweight” rating in a report on Tuesday, October 1st. Oppenheimer boosted their target price on StepStone Group from $56.00 to $73.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Evercore ISI boosted their price target on StepStone Group from $52.00 to $55.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. The Goldman Sachs Group boosted their price target on StepStone Group from $64.00 to $70.50 and gave the stock a “neutral” rating in a research report on Tuesday, November 19th. Finally, Morgan Stanley boosted their price target on StepStone Group from $60.00 to $65.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 14th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $64.36.

Insider Buying and Selling at StepStone Group

In other StepStone Group news, CAO Anthony Keathley sold 729 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $68.85, for a total value of $50,191.65. Following the transaction, the chief accounting officer now directly owns 2,158 shares of the company’s stock, valued at $148,578.30. This represents a 25.25 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO David Y. Park sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $68.21, for a total value of $204,630.00. Following the completion of the transaction, the chief financial officer now directly owns 20,251 shares in the company, valued at approximately $1,381,320.71. The trade was a 12.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 18.44% of the stock is currently owned by corporate insiders.

StepStone Group Company 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.