Point72 Asset Management L.P. Purchases Shares of 8,654 StepStone Group LP (NASDAQ:STEP)

Point72 Asset Management L.P. bought a new position in shares of StepStone Group LP (NASDAQ:STEP - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 8,654 shares of the company's stock, valued at approximately $501,000.

Other large investors have also made changes to their positions in the company. Steward Partners Investment Advisory LLC acquired a new position in shares of StepStone Group during the 4th quarter valued at about $27,000. Raleigh Capital Management Inc. acquired a new position in StepStone Group in the 4th quarter valued at about $29,000. IFP Advisors Inc purchased a new stake in shares of StepStone Group in the 4th quarter valued at approximately $36,000. Amundi grew its stake in shares of StepStone Group by 26.7% in the 4th quarter. Amundi now owns 730 shares of the company's stock valued at $42,000 after buying an additional 154 shares during the period. Finally, PNC Financial Services Group Inc. increased its holdings in shares of StepStone Group by 444.4% during the 4th quarter. PNC Financial Services Group Inc. now owns 969 shares of the company's stock worth $56,000 after buying an additional 791 shares during the last quarter. 55.54% of the stock is currently owned by hedge funds and other institutional investors.

StepStone Group Price Performance

Shares of NASDAQ STEP traded up $0.67 during midday trading on Wednesday, hitting $59.97. 509,592 shares of the company's stock were exchanged, compared to its average volume of 679,123. The company has a market cap of $6.96 billion, a PE ratio of -35.48 and a beta of 1.37. StepStone Group LP has a twelve month low of $40.07 and a twelve month high of $70.38. The firm's fifty day simple moving average is $52.13 and its 200-day simple moving average is $57.82.

StepStone Group (NASDAQ:STEP - Get Free Report) last issued its quarterly 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 firm had revenue of $295.86 million during the quarter, compared to analysts' expectations of $231.87 million. During the same quarter in the prior year, the business earned $0.33 EPS. StepStone Group's quarterly revenue was up 66.8% compared to the same quarter last year. Equities analysts anticipate that StepStone Group LP will post 1.82 EPS for the current fiscal year.

StepStone Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be paid a dividend of $0.24 per share. The ex-dividend date is Friday, June 13th. This represents a $0.96 annualized dividend and a dividend yield of 1.60%. StepStone Group's dividend payout ratio (DPR) is -40.17%.

Insider Transactions at StepStone Group

In other news, insider Jason P. Ment sold 800 shares of the company's stock in a transaction that occurred on Wednesday, May 14th. The stock was 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 owns 90,663 shares in the company, valued at $5,441,593.26. This represents a 0.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Scott W. Hart sold 900 shares of StepStone Group stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $60.01, for a total transaction of $54,009.00. Following the completion of the transaction, the chief executive officer now owns 109,100 shares in the company, valued at approximately $6,547,091. This trade represents a 0.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 18.44% of the company's stock.

Analyst Upgrades and Downgrades

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

StepStone Group 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.