Intech Investment Management LLC raised its holdings in StepStone Group Inc. (NASDAQ:STEP - Free Report) by 41.5% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 38,456 shares of the company's stock after buying an additional 11,270 shares during the period. Intech Investment Management LLC's holdings in StepStone Group were worth $2,009,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Versant Capital Management Inc bought a new position in shares of StepStone Group during the first quarter worth approximately $35,000. GAMMA Investing LLC increased its stake in StepStone Group by 38.5% during the 1st quarter. GAMMA Investing LLC now owns 1,169 shares of the company's stock worth $61,000 after acquiring an additional 325 shares during the period. Neo Ivy Capital Management acquired a new stake in shares of StepStone Group in the 4th quarter valued at $65,000. CWM LLC boosted its holdings in shares of StepStone Group by 14.0% in the 1st quarter. CWM LLC now owns 1,600 shares of the company's stock valued at $84,000 after purchasing an additional 196 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its holdings in shares of StepStone Group by 943.5% during the 1st quarter. Russell Investments Group Ltd. now owns 1,847 shares of the company's stock valued at $96,000 after acquiring an additional 1,670 shares in the last quarter. Institutional investors own 55.54% of the company's stock.
Analyst Upgrades and Downgrades
Several equities research analysts recently weighed in on STEP shares. Oppenheimer reissued an "outperform" rating and set a $84.00 price objective (up previously from $81.00) on shares of StepStone Group in a report on Monday, August 11th. The Goldman Sachs Group boosted their target price on StepStone Group from $57.00 to $63.00 and gave the company a "neutral" rating in a research report on Wednesday, May 28th. Zacks Research lowered StepStone Group from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 13th. Barclays lifted their price target on StepStone Group from $62.00 to $63.00 and gave the company an "equal weight" rating in a research note on Friday, August 8th. Finally, Evercore ISI boosted their target price on StepStone Group from $56.00 to $61.00 and gave the stock an "outperform" rating in a research note on Thursday, July 10th. Three analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $64.00.
View Our Latest Research Report on StepStone Group
Insiders Place Their Bets
In other StepStone Group news, CEO Scott W. Hart sold 10,000 shares of the business's stock in a transaction on Monday, August 25th. The shares were sold at an average price of $61.44, for a total transaction of $614,400.00. Following the sale, the chief executive officer owned 50,000 shares of the company's stock, valued at $3,072,000. The trade was a 16.67% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO David Y. Park sold 1,000 shares of the company's stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $63.26, for a total transaction of $63,260.00. Following the completion of the transaction, the chief financial officer directly owned 22,020 shares in the company, valued at approximately $1,392,985.20. The trade was a 4.34% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 31,000 shares of company stock worth $1,893,360 in the last three months. Insiders own 16.47% of the company's stock.
StepStone Group Price Performance
Shares of STEP stock opened at $61.10 on Wednesday. The company's fifty day simple moving average is $60.62 and its two-hundred day simple moving average is $56.09. StepStone Group Inc. has a 1 year low of $40.07 and a 1 year high of $70.38. The stock has a market capitalization of $7.11 billion, a price-to-earnings ratio of -19.84 and a beta of 1.37.
StepStone Group (NASDAQ:STEP - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported $0.40 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.42 by ($0.02). StepStone Group had a negative net margin of 17.10% and a positive return on equity of 16.07%. The business had revenue of $237.47 million for the quarter, compared to the consensus estimate of $238.99 million. During the same period in the previous year, the firm earned $0.48 EPS. The company's revenue was up 95.4% compared to the same quarter last year. Equities research analysts anticipate that StepStone Group Inc. will post 1.82 EPS for the current year.
StepStone Group Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 29th were issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend was Friday, August 29th. This is a positive change from StepStone Group's previous quarterly dividend of $0.24. StepStone Group's payout ratio is presently -36.36%.
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.
See Also
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