Moody National Bank Trust Division Has $1.25 Million Stock Position in StepStone Group LP (NASDAQ:STEP)

Moody National Bank Trust Division raised its holdings in shares of StepStone Group LP (NASDAQ:STEP - Free Report) by 60.6% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 24,003 shares of the company's stock after purchasing an additional 9,059 shares during the quarter. Moody National Bank Trust Division's holdings in StepStone Group were worth $1,254,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the business. Amundi grew its stake in StepStone Group by 26.7% during the 4th quarter. Amundi now owns 730 shares of the company's stock valued at $42,000 after purchasing an additional 154 shares in the last quarter. Mutual of America Capital Management LLC grew its stake in StepStone Group by 1.7% during the 4th quarter. Mutual of America Capital Management LLC now owns 9,578 shares of the company's stock valued at $554,000 after purchasing an additional 157 shares in the last quarter. Blue Trust Inc. grew its stake in StepStone Group by 25.5% during the 4th quarter. Blue Trust Inc. now owns 1,079 shares of the company's stock valued at $61,000 after purchasing an additional 219 shares in the last quarter. Louisiana State Employees Retirement System grew its stake in StepStone Group by 1.0% during the 4th quarter. Louisiana State Employees Retirement System now owns 30,600 shares of the company's stock valued at $1,771,000 after purchasing an additional 300 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC acquired a new stake in StepStone Group during the 4th quarter valued at approximately $27,000. Institutional investors and hedge funds own 55.54% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on STEP shares. 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. Evercore ISI boosted their price target on StepStone Group from $63.00 to $69.00 and gave the company an "outperform" rating in a report on Monday, February 10th. Barclays set a $62.00 price target on StepStone Group and gave the company an "equal weight" rating in a report on Tuesday, May 27th. The Goldman Sachs Group boosted their price target on StepStone Group from $57.00 to $63.00 and gave the company a "neutral" rating in a report on Wednesday. Finally, 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 report on Monday, April 14th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $62.57.

Insider Activity

In other news, CEO Scott W. Hart sold 900 shares of the company's stock in a transaction on Wednesday, May 14th. The stock was 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 $6,547,091. This represents a 0.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Jason P. Ment sold 800 shares of the company's stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $60.02, for a total value of $48,016.00. Following the transaction, the insider now directly owns 90,663 shares in the company, valued at $5,441,593.26. The trade was a 0.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 338,426 shares of company stock worth $20,325,626 over the last 90 days. 18.44% of the stock is currently owned by company insiders.

StepStone Group Price Performance

Shares of StepStone Group stock traded down $1.31 during trading on Friday, hitting $57.81. The stock had a trading volume of 776,842 shares, compared to its average volume of 686,819. The firm has a market cap of $6.70 billion, a P/E ratio of -34.21 and a beta of 1.37. The business has a fifty day moving average of $52.32 and a two-hundred day moving average of $57.59. 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 announced its quarterly earnings data on Thursday, May 22nd. The company reported $0.68 earnings per share for the quarter, beating the consensus estimate 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 positive return on equity of 12.04% and a negative net margin of 11.29%. The company's revenue was up 66.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.33 earnings per share. As a group, research analysts forecast that StepStone Group LP will post 1.82 earnings per share for the current year.

StepStone Group Announces Dividend

The company 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 $0.24 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.96 annualized dividend and a dividend yield of 1.66%. StepStone Group's dividend payout ratio (DPR) is -40.17%.

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.