Comerica Bank Has $1.02 Million Holdings in StepStone Group Inc. $STEP

Key Points

• Comerica Bank cut its StepStone Group stake by 75.4% in the fourth quarter, selling 48,733 shares and leaving it with 15,873 shares worth about $1.02 million.
• Analysts remain generally constructive on StepStone Group, with seven Buy ratings, two Hold ratings, and one Sell rating. The stock carries a Moderate Buy consensus and an average target price of $71.75.
• StepStone recently reported Q4 EPS of $0.65, beating estimates, and its board approved a $100 million share repurchase plan covering up to 1.8% of outstanding shares.

Comerica Bank reduced its holdings in StepStone Group Inc. (NASDAQ:STEP - Free Report) by 75.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,873 shares of the company's stock after selling 48,733 shares during the quarter. Comerica Bank's holdings in StepStone Group were worth $1,019,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Salomon & Ludwin LLC boosted its holdings in shares of StepStone Group by 105.0% in the 4th quarter. Salomon & Ludwin LLC now owns 414 shares of the company's stock worth $28,000 after acquiring an additional 212 shares in the last quarter. Aster Capital Management DIFC Ltd boosted its holdings in shares of StepStone Group by 2,285.7% in the 3rd quarter. Aster Capital Management DIFC Ltd now owns 501 shares of the company's stock worth $33,000 after acquiring an additional 480 shares in the last quarter. Quarry LP boosted its holdings in shares of StepStone Group by 155.7% in the 3rd quarter. Quarry LP now owns 514 shares of the company's stock worth $34,000 after acquiring an additional 313 shares in the last quarter. Clearstead Advisors LLC boosted its holdings in shares of StepStone Group by 127.8% in the 3rd quarter. Clearstead Advisors LLC now owns 581 shares of the company's stock worth $38,000 after acquiring an additional 326 shares in the last quarter. Finally, Darwin Wealth Management LLC acquired a new position in shares of StepStone Group in the 2nd quarter worth approximately $46,000. 55.54% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

STEP has been the topic of several recent analyst reports. JPMorgan Chase & Co. boosted their target price on StepStone Group from $84.00 to $91.00 and gave the stock an "overweight" rating in a report on Friday, February 6th. Barclays boosted their target price on StepStone Group from $55.00 to $61.00 and gave the stock an "overweight" rating in a report on Wednesday, April 8th. Morgan Stanley set a $72.00 target price on StepStone Group in a report on Tuesday, January 27th. Oppenheimer reduced their price objective on StepStone Group from $104.00 to $90.00 and set an "outperform" rating on the stock in a report on Monday, April 13th. Finally, Zacks Research downgraded StepStone Group from a "strong-buy" rating to a "hold" rating in a report on Tuesday, February 10th. Seven analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, StepStone Group has an average rating of "Moderate Buy" and an average target price of $71.75.

StepStone Group Stock Performance

Shares of StepStone Group stock opened at $55.74 on Friday. The firm has a fifty day moving average of $48.74 and a two-hundred day moving average of $58.74. The stock has a market capitalization of $6.64 billion, a price-to-earnings ratio of -8.03 and a beta of 1.34. StepStone Group Inc. has a 52 week low of $40.58 and a 52 week high of $77.79.

StepStone Group (NASDAQ:STEP - Get Free Report) last issued its earnings results on Thursday, February 5th. The company reported $0.65 EPS for the quarter, beating the consensus estimate of $0.60 by $0.05. The company had revenue of $241.13 million during the quarter, compared to analysts' expectations of $363.92 million. StepStone Group had a negative net margin of 30.66% and a positive return on equity of 31.44%. The business's revenue for the quarter was up 102.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.44 EPS. As a group, research analysts forecast that StepStone Group Inc. will post 2.1 EPS for the current fiscal year.

StepStone Group announced that its Board of Directors has approved a stock repurchase plan on Monday, March 9th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the company to reacquire up to 1.8% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's board believes its stock is undervalued.

StepStone Group Company Profile

StepStone Group is a global private markets investment firm that provides specialized investment solutions across private equity, private credit and real assets. The firm offers customized portfolios, secondary interests, direct co-investments and tailored advisory services to institutional investors worldwide. StepStone's integrated research and data analytics platform supports its investment teams in sourcing opportunities and monitoring portfolio companies.

Founded in 2007 as an independent private markets specialist, the company has grown its presence through both organic expansion and strategic partnerships.

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