Nuveen Asset Management LLC Buys 6,028 Shares of StepStone Group LP (NASDAQ:STEP)

Nuveen Asset Management LLC boosted its position in shares of StepStone Group LP (NASDAQ:STEP - Free Report) by 1.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 325,404 shares of the company's stock after acquiring an additional 6,028 shares during the period. Nuveen Asset Management LLC owned 0.28% of StepStone Group worth $18,834,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in shares of StepStone Group by 6.3% during the 4th quarter. Vanguard Group Inc. now owns 6,938,181 shares of the company's stock worth $401,582,000 after purchasing an additional 411,133 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of 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 worth $324,122,000 after purchasing an additional 895,521 shares during the period. Invesco Ltd. increased its holdings in shares of StepStone Group by 11.5% during the 4th quarter. Invesco Ltd. now owns 3,542,270 shares of the company's stock worth $205,027,000 after purchasing an additional 366,154 shares during the period. T. Rowe Price Investment Management Inc. increased its holdings in shares of 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 worth $110,109,000 after purchasing an additional 14,888 shares during the period. Finally, JPMorgan Chase & Co. increased its holdings in shares of StepStone Group by 4.7% during the 4th quarter. JPMorgan Chase & Co. now owns 1,711,872 shares of the company's stock worth $99,083,000 after purchasing an additional 77,490 shares during the period. Institutional investors own 55.54% of the company's stock.

Insider Activity at StepStone Group

In related news, CEO Scott W. Hart sold 900 shares of the stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $60.01, for a total value of $54,009.00. Following the transaction, the chief executive officer now directly owns 109,100 shares in the company, valued at $6,547,091. This represents a 0.82% decrease in their ownership of the stock. The sale was disclosed in a filing 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 that occurred on Wednesday, May 14th. The shares were sold at an average price of $60.02, for a total transaction of $48,016.00. Following the completion of the sale, the insider now directly owns 90,663 shares of the company's stock, valued at $5,441,593.26. The trade was a 0.87% decrease in their position. The disclosure for this sale can be found here. 18.44% of the stock is currently owned by company insiders.

StepStone Group Price Performance

Shares of STEP stock traded up $0.58 during trading hours on Tuesday, reaching $59.30. 1,123,175 shares of the company were exchanged, compared to its average volume of 679,502. The stock's fifty day moving average is $52.04 and its two-hundred day moving average is $57.80. 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 $6.88 billion, a price-to-earnings ratio of -35.09 and a beta of 1.37.

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. StepStone Group had a negative net margin of 11.29% and a positive return on equity of 12.04%. The business had revenue of $295.86 million for 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 was up 66.8% compared to the same quarter last year. On average, research analysts anticipate that StepStone Group LP will post 1.82 earnings per share for the current year.

StepStone Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be issued a $0.24 dividend. The ex-dividend date is Friday, June 13th. This represents a $0.96 annualized dividend and a yield of 1.62%. StepStone Group's dividend payout ratio is currently -40.17%.

Analyst Ratings Changes

STEP has been the topic of several research reports. Evercore ISI boosted their price objective on shares of StepStone Group from $63.00 to $69.00 and gave the stock an "outperform" rating in a report on Monday, February 10th. Oppenheimer set a $67.00 target price on shares of StepStone Group and gave the company an "outperform" rating in a research note on Wednesday, April 16th. Morgan Stanley reduced their price target on shares of StepStone Group from $66.00 to $51.00 and set an "equal weight" rating on the stock in a research report on Monday, April 14th. Finally, Barclays upped their target price on shares of StepStone Group from $48.00 to $62.00 and gave the stock an "equal weight" rating in a research report on Tuesday. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $63.64.

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.