Point72 Asset Management L.P. Takes $501,000 Position in StepStone Group LP (NASDAQ:STEP)

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

A number of other large investors have also recently bought and sold shares of STEP. Price T Rowe Associates Inc. MD raised its holdings in StepStone Group by 19.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,599,875 shares of the company's stock valued at $324,122,000 after buying an additional 895,521 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of StepStone Group during the 4th quarter valued at about $46,163,000. Massachusetts Financial Services Co. MA bought a new position in shares of StepStone Group in the 4th quarter valued at approximately $32,340,000. Ameriprise Financial Inc. raised its stake in shares of StepStone Group by 353.2% in the 4th quarter. Ameriprise Financial Inc. now owns 661,799 shares of the company's stock valued at $38,305,000 after acquiring an additional 515,760 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in StepStone Group by 6.3% in 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 last quarter. 55.54% of the stock is currently owned by institutional investors.

Insider Activity at StepStone Group

In other news, CEO Scott W. Hart sold 900 shares of StepStone Group stock in a transaction that occurred 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 sale, the chief executive officer now owns 109,100 shares of the company's stock, valued at approximately $6,547,091. This trade represents a 0.82% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through 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 completion of the transaction, the insider now owns 90,663 shares of the company's stock, 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. 18.44% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Evercore ISI upped their target price on StepStone Group from $63.00 to $69.00 and gave the stock an "outperform" rating in a research report on Monday, February 10th. Morgan Stanley dropped their target price on shares of StepStone Group from $66.00 to $51.00 and set an "equal weight" rating on the stock in a report on Monday, April 14th. Barclays cut their target price on shares of StepStone Group from $69.00 to $48.00 and set an "equal weight" rating for the company in a research report on Monday, April 7th. Finally, Oppenheimer set a $67.00 price target on StepStone Group and gave the company an "outperform" rating in a research report on Wednesday, April 16th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $61.64.

StepStone Group Price Performance

Shares of StepStone Group stock traded up $2.01 during midday trading on Friday, hitting $58.72. The company had a trading volume of 1,655,463 shares, compared to its average volume of 677,629. The business's 50 day simple moving average is $51.99 and its two-hundred day simple moving average is $57.92. The stock has a market cap of $6.81 billion, a PE ratio of -34.75 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 issued its quarterly earnings results on Thursday, May 22nd. The company reported $0.68 earnings per share for the quarter, beating analysts' consensus estimates of $0.44 by $0.24. The firm had revenue of $295.86 million during the quarter, compared to the consensus estimate of $231.87 million. StepStone Group had a negative net margin of 11.29% and a positive return on equity of 12.04%. The business's revenue was up 66.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.33 EPS. On average, sell-side analysts expect that StepStone Group LP will post 1.82 EPS for the current fiscal year.

StepStone Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.63%. The ex-dividend date of this dividend is Friday, June 13th. StepStone Group's dividend payout ratio is currently -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.