Harbor Capital Advisors Inc. raised its position in shares of StepStone Group LP (NASDAQ:STEP - Free Report) by 42.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 23,527 shares of the company's stock after buying an additional 7,053 shares during the period. Harbor Capital Advisors Inc.'s holdings in StepStone Group were worth $1,229,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of 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 buying an additional 411,133 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of 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 buying an additional 895,521 shares during the period. Invesco Ltd. boosted its position in shares of 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 buying an additional 366,154 shares during the period. T. Rowe Price Investment Management Inc. boosted its position in shares of 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 buying an additional 14,888 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in shares of 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 buying an additional 77,490 shares during the period. 55.54% of the stock is currently owned by hedge funds and other institutional investors.
StepStone Group Stock Down 0.2%
StepStone Group stock traded down $0.13 during midday trading on Monday, reaching $53.73. The company's stock had a trading volume of 649,764 shares, compared to its average volume of 682,043. StepStone Group LP has a fifty-two week low of $40.07 and a fifty-two week high of $70.38. The company has a market cap of $6.26 billion, a P/E ratio of -31.79 and a beta of 1.40. The business has a 50-day simple moving average of $53.92 and a 200-day simple moving average of $56.88.
StepStone Group (NASDAQ:STEP - Get Free Report) last posted 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. StepStone Group had a positive return on equity of 12.04% and a negative net margin of 11.29%. The company had revenue of $295.86 million for the quarter, compared to analysts' expectations of $231.87 million. During the same period last year, the firm earned $0.33 earnings per share. StepStone Group's quarterly revenue was up 66.8% on a year-over-year basis. As a group, equities analysts forecast that StepStone Group LP will post 1.82 earnings per share for the current year.
StepStone Group Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 1.79%. The ex-dividend date is Friday, June 13th. StepStone Group's dividend payout ratio is presently -40.17%.
Insider Buying and Selling at StepStone Group
In other StepStone Group news, CEO Scott W. Hart sold 900 shares of the firm's stock in a transaction on 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 in the company, valued at $6,547,091. This trade represents a 0.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jason P. Ment sold 55,608 shares of the firm's stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $60.71, for a total value of $3,375,961.68. Following the completion of the sale, the insider now owns 34,155 shares in the company, valued at approximately $2,073,550.05. This represents a 61.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 406,144 shares of company stock worth $24,154,401 over the last ninety days. Corporate insiders own 18.44% of the company's stock.
Analysts Set New Price Targets
Several research analysts have recently commented on the company. Morgan Stanley lowered their price target on 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 StepStone Group from $57.00 to $63.00 and gave the company a "neutral" rating in a research note on Wednesday, May 28th. Oppenheimer set a $67.00 price objective on StepStone Group and gave the company an "outperform" rating in a research note on Wednesday, April 16th. Finally, Barclays set a $62.00 price objective on StepStone Group and gave the company an "equal weight" rating in a research note on Tuesday, May 27th. Four equities 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 currently has an average rating of "Hold" and an average price target of $62.57.
Read Our Latest Research Report on StepStone Group
About StepStone Group
(
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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