California State Teachers Retirement System Acquires 5,502 Shares of StepStone Group LP (NASDAQ:STEP)

California State Teachers Retirement System increased its stake in shares of StepStone Group LP (NASDAQ:STEP - Free Report) by 10.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 60,445 shares of the company's stock after buying an additional 5,502 shares during the period. California State Teachers Retirement System owned about 0.05% of StepStone Group worth $3,499,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in STEP. Amundi boosted its holdings 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. Mutual of America Capital Management LLC lifted its position in shares of StepStone Group by 1.7% during the fourth quarter. Mutual of America Capital Management LLC now owns 9,578 shares of the company's stock worth $554,000 after acquiring an additional 157 shares in the last quarter. Blue Trust Inc. boosted its holdings in shares of StepStone Group by 25.5% in the fourth quarter. Blue Trust Inc. now owns 1,079 shares of the company's stock worth $61,000 after acquiring an additional 219 shares during the period. Louisiana State Employees Retirement System boosted its holdings in shares of StepStone Group by 1.0% in the fourth quarter. Louisiana State Employees Retirement System now owns 30,600 shares of the company's stock worth $1,771,000 after acquiring an additional 300 shares during the period. Finally, Steward Partners Investment Advisory LLC purchased a new position in shares of StepStone Group in the fourth quarter valued at $27,000. Hedge funds and other institutional investors own 55.54% of the company's stock.

Insider Buying and Selling

In other StepStone Group news, insider Michael I. Mccabe sold 51,377 shares of the firm's stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $59.90, for a total transaction of $3,077,482.30. Following the sale, the insider now owns 196,423 shares in the company, valued at $11,765,737.70. This trade represents a 20.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Scott W. Hart sold 900 shares of StepStone Group stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $60.01, for a total value of $54,009.00. Following 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 338,426 shares of company stock worth $20,325,626. Corporate insiders own 18.44% of the company's stock.

StepStone Group Trading Up 2.2%

Shares of STEP traded up $1.27 during trading hours on Friday, reaching $58.06. 752,481 shares of the company's stock traded hands, compared to its average volume of 690,854. StepStone Group LP has a 12 month low of $40.07 and a 12 month high of $70.38. The stock has a market cap of $6.76 billion, a PE ratio of -34.36 and a beta of 1.40. The firm's 50 day simple moving average is $52.71 and its 200-day simple moving average is $57.31.

StepStone Group (NASDAQ:STEP - Get Free Report) last announced its 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. StepStone Group had a negative net margin of 11.29% and a positive return on equity of 12.04%. The business had revenue of $295.86 million for the quarter, compared to the consensus estimate of $231.87 million. During the same period last year, the firm posted $0.33 earnings per share. StepStone Group's quarterly revenue was up 66.8% on a year-over-year basis. As a group, analysts expect that StepStone Group LP will post 1.82 earnings per share for the current fiscal year.

StepStone Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders 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 dividend yield of 1.65%. The ex-dividend date is Friday, June 13th. StepStone Group's dividend payout ratio is currently -40.17%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Evercore ISI increased their price objective on StepStone Group from $63.00 to $69.00 and gave the stock an "outperform" rating in a report on Monday, February 10th. Barclays set a $62.00 price target on shares of StepStone Group and gave the stock an "equal weight" rating in a report on Tuesday, May 27th. The Goldman Sachs Group raised their price objective on shares of StepStone Group from $57.00 to $63.00 and gave the company a "neutral" rating in a research report on Wednesday, May 28th. Morgan Stanley decreased their target price on shares of StepStone Group from $66.00 to $51.00 and set an "equal weight" rating on the stock in a report on Monday, April 14th. Finally, Oppenheimer set a $67.00 price target on shares of StepStone Group and gave the company an "outperform" rating in a report on Wednesday, April 16th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $62.57.

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.