Squarepoint Ops LLC purchased a new position in shares of StepStone Group LP (NASDAQ:STEP - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 9,380 shares of the company's stock, valued at approximately $543,000.
Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in StepStone Group by 6.3% during the fourth quarter. Vanguard Group Inc. now owns 6,938,181 shares of the company's stock worth $401,582,000 after purchasing an additional 411,133 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in StepStone Group by 19.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,599,875 shares of the company's stock worth $324,122,000 after purchasing an additional 895,521 shares during the last quarter. Invesco Ltd. increased its position in StepStone Group by 11.5% during the fourth quarter. Invesco Ltd. now owns 3,542,270 shares of the company's stock worth $205,027,000 after purchasing an additional 366,154 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its position in StepStone Group by 0.8% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,902,366 shares of the company's stock worth $110,109,000 after purchasing an additional 14,888 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position in StepStone Group by 4.7% during the fourth quarter. JPMorgan Chase & Co. now owns 1,711,872 shares of the company's stock worth $99,083,000 after purchasing an additional 77,490 shares during the last quarter. Institutional investors and hedge funds own 55.54% of the company's stock.
Insider Activity at StepStone Group
In related news, CEO Scott W. Hart sold 900 shares of the firm's stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $60.01, for a total transaction of $54,009.00. Following the completion of the sale, the chief executive officer now directly owns 109,100 shares of the company's stock, valued at approximately $6,547,091. This trade represents a 0.82% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jason P. Ment sold 55,608 shares of the stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $60.71, for a total transaction of $3,375,961.68. Following the transaction, the insider now owns 34,155 shares in the company, valued at $2,073,550.05. This trade represents a 61.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 338,426 shares of company stock valued at $20,325,626. Corporate insiders own 18.44% of the company's stock.
Wall Street Analyst Weigh In
Several equities analysts recently commented on STEP shares. Oppenheimer set a $67.00 price target on shares of StepStone Group and gave the stock an "outperform" rating in a research report on Wednesday, April 16th. Morgan Stanley dropped their price objective on shares of StepStone Group from $66.00 to $51.00 and set an "equal weight" rating for the company in a research report on Monday, April 14th. The Goldman Sachs Group increased their price objective on shares of StepStone Group from $57.00 to $63.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 28th. Barclays set a $62.00 price objective on shares of StepStone Group and gave the stock an "equal weight" rating in a research report on Tuesday, May 27th. Finally, Evercore ISI increased their price objective on shares of StepStone Group from $63.00 to $69.00 and gave the stock an "outperform" rating in a research report on Monday, February 10th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, StepStone Group presently has an average rating of "Hold" and a consensus price target of $62.57.
View Our Latest Analysis on StepStone Group
StepStone Group Price Performance
STEP traded up $1.27 during trading hours on Friday, reaching $58.06. 752,481 shares of the stock traded hands, compared to its average volume of 689,306. The firm's fifty day simple moving average is $52.71 and its two-hundred day simple moving average is $57.43. The company has a market cap of $6.76 billion, a price-to-earnings ratio of -34.36 and a beta of 1.40. StepStone Group LP has a fifty-two week low of $40.07 and a fifty-two week high of $70.38.
StepStone Group (NASDAQ:STEP - Get Free Report) last released its quarterly earnings results on Thursday, May 22nd. The company reported $0.68 earnings per share for the quarter, beating analysts' consensus estimates of $0.44 by $0.24. The business had revenue of $295.86 million during the quarter, compared to analyst estimates of $231.87 million. StepStone Group had a negative net margin of 11.29% and a positive return on equity of 12.04%. The business's revenue was up 66.8% on a year-over-year basis. During the same period last year, the business earned $0.33 EPS. On average, research analysts predict that StepStone Group LP will post 1.82 earnings per share for the current year.
StepStone Group Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date is Friday, June 13th. StepStone Group's payout ratio is -40.17%.
StepStone Group Company Profile
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Free Report)
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.
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