Nuveen Asset Management LLC increased its stake in StepStone Group LP (NASDAQ:STEP - Free Report) by 1.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 325,404 shares of the company's stock after purchasing an additional 6,028 shares during the quarter. Nuveen Asset Management LLC owned approximately 0.28% of StepStone Group worth $18,834,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of STEP. Vanguard Group Inc. raised its holdings in StepStone Group by 6.3% during the 4th quarter. Vanguard Group Inc. now owns 6,938,181 shares of the company's stock valued at $401,582,000 after acquiring an additional 411,133 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in StepStone Group by 19.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,599,875 shares of the company's stock valued at $324,122,000 after acquiring an additional 895,521 shares during the period. Invesco Ltd. raised its holdings in StepStone Group by 11.5% during the 4th quarter. Invesco Ltd. now owns 3,542,270 shares of the company's stock valued at $205,027,000 after acquiring an additional 366,154 shares during the period. T. Rowe Price Investment Management Inc. raised its holdings in StepStone Group by 0.8% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,902,366 shares of the company's stock valued at $110,109,000 after acquiring an additional 14,888 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in StepStone Group by 4.7% during the 4th quarter. JPMorgan Chase & Co. now owns 1,711,872 shares of the company's stock valued at $99,083,000 after acquiring an additional 77,490 shares during the period. Institutional investors own 55.54% of the company's stock.
StepStone Group Stock Down 0.3%
Shares of StepStone Group stock traded down $0.19 during trading on Thursday, reaching $60.08. 162,567 shares of the stock were exchanged, compared to its average volume of 681,971. The stock's fifty day moving average is $52.25 and its 200 day moving average is $57.83. The firm has a market cap of $6.97 billion, a price-to-earnings ratio of -35.63 and a beta of 1.37. StepStone Group LP has a 1 year low of $40.07 and a 1 year high of $70.38.
StepStone Group (NASDAQ:STEP - Get Free Report) last posted its earnings results on Thursday, May 22nd. The company reported $0.68 earnings per share for the quarter, topping 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 company had revenue of $295.86 million during the quarter, compared to analyst estimates of $231.87 million. During the same period in the prior year, the business posted $0.33 earnings per share. StepStone Group's revenue for the quarter was up 66.8% on a year-over-year basis. Equities analysts forecast that StepStone Group LP will post 1.82 earnings per share for the current year.
StepStone Group Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors 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 1.60%. The ex-dividend date is Friday, June 13th. StepStone Group's payout ratio is currently -40.17%.
Analysts Set New Price Targets
STEP has been the subject of a number of recent analyst reports. Oppenheimer set a $67.00 price target on shares of StepStone Group and gave the company an "outperform" rating in a research report on Wednesday, April 16th. The Goldman Sachs Group boosted their price target on shares of StepStone Group from $57.00 to $63.00 and gave the company a "neutral" rating in a research report on Wednesday. Evercore ISI boosted their price target on shares of StepStone Group from $63.00 to $69.00 and gave the company an "outperform" rating in a research report on Monday, February 10th. Morgan Stanley reduced their price target on shares of 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. Finally, Barclays set a $62.00 price target on shares of StepStone Group and gave the company an "equal weight" rating in a research report on Tuesday. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, StepStone Group presently has a consensus rating of "Hold" and a consensus price target of $62.57.
Read Our Latest Stock Report on STEP
Insider Buying and Selling
In related news, CEO Scott W. Hart sold 27,697 shares of the company's stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $60.06, for a total value of $1,663,481.82. Following the transaction, the chief executive officer now directly owns 80,000 shares of the company's stock, valued at approximately $4,804,800. This represents a 25.72% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Jason P. Ment sold 55,608 shares of the company's stock in a transaction that occurred 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 transaction, the insider now directly owns 34,155 shares in the company, valued at $2,073,550.05. This trade represents a 61.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 87,308 shares of company stock valued at $5,279,663 over the last three months. Corporate insiders own 18.44% of the company's stock.
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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