StepStone Group LP (NASDAQ:STEP) Shares Bought by Rhumbline Advisers

Rhumbline Advisers boosted its position in StepStone Group LP (NASDAQ:STEP - Free Report) by 3.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 177,208 shares of the company's stock after buying an additional 6,014 shares during the quarter. Rhumbline Advisers owned 0.15% of StepStone Group worth $9,256,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in STEP. Price T Rowe Associates Inc. MD increased its position in shares of StepStone Group by 19.0% in 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 last quarter. Raymond James Financial Inc. bought a new stake in StepStone Group in the fourth quarter valued at about $46,163,000. Massachusetts Financial Services Co. MA acquired a new stake in StepStone Group during the fourth quarter valued at approximately $32,340,000. Ameriprise Financial Inc. raised its stake in StepStone Group by 353.2% during the fourth quarter. Ameriprise Financial Inc. now owns 661,799 shares of the company's stock valued at $38,305,000 after buying an additional 515,760 shares in the last quarter. Finally, Vanguard Group Inc. lifted 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 worth $401,582,000 after buying an additional 411,133 shares during the last quarter. 55.54% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Oppenheimer set a $67.00 price target on StepStone Group and gave the company an "outperform" rating in a report on Wednesday, April 16th. 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 set a $62.00 price target on shares of StepStone Group and gave the stock an "equal weight" rating in a research report on Tuesday, May 27th. Finally, The Goldman Sachs Group boosted their price objective on shares of StepStone Group from $57.00 to $63.00 and gave the company a "neutral" rating in a research report on Wednesday, May 28th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $62.57.

Insider Transactions at StepStone Group

In related news, insider Jason P. Ment sold 800 shares of the business'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 sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michael I. Mccabe sold 51,377 shares of the stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $59.90, for a total value of $3,077,482.30. Following the transaction, the insider now directly owns 196,423 shares of the company's stock, valued at approximately $11,765,737.70. The trade was a 20.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 338,426 shares of company stock valued at $20,325,626. 18.44% of the stock is currently owned by corporate insiders.

StepStone Group Stock Performance

Shares of STEP traded down $0.23 during midday trading on Wednesday, hitting $57.21. 592,987 shares of the stock traded hands, compared to its average volume of 683,913. The business's 50 day moving average price is $52.95 and its two-hundred day moving average price is $57.25. The firm has a market capitalization of $6.66 billion, a PE ratio of -33.85 and a beta of 1.40. 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 (EPS) 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 analyst estimates of $231.87 million. StepStone Group had a negative net margin of 11.29% and a positive return on equity of 12.04%. StepStone Group's revenue was up 66.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.33 EPS. As a group, equities research analysts forecast that StepStone Group LP will post 1.82 EPS for the current fiscal year.

StepStone Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be given a dividend of $0.24 per share. The ex-dividend date is Friday, June 13th. This represents a $0.96 dividend on an annualized basis and a yield of 1.68%. StepStone Group's dividend payout ratio (DPR) is presently -40.17%.

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.