103,310 Shares in StepStone Group LP (NASDAQ:STEP) Acquired by Voloridge Investment Management LLC

Voloridge Investment Management LLC 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 103,310 shares of the company's stock, valued at approximately $5,980,000. Voloridge Investment Management LLC owned about 0.09% of StepStone Group at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in STEP. Vanguard Group Inc. lifted its position in StepStone Group by 6.3% during the fourth 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 in the last quarter. Price T Rowe Associates Inc. MD increased its stake 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 acquiring an additional 895,521 shares during the last quarter. Invesco Ltd. raised 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 acquiring an additional 366,154 shares during the period. T. Rowe Price Investment Management Inc. raised 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 acquiring an additional 14,888 shares during the period. Finally, JPMorgan Chase & Co. boosted its position 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 valued at $99,083,000 after acquiring an additional 77,490 shares during the last quarter. 55.54% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other StepStone Group news, CEO Scott W. Hart sold 900 shares of the business's stock in a transaction 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 completion of the transaction, the chief executive officer now owns 109,100 shares in the company, valued at $6,547,091. The trade was a 0.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Jason P. Ment sold 800 shares of the 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 sale, the insider now owns 90,663 shares in the company, valued at approximately $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. Over the last quarter, insiders sold 87,308 shares of company stock valued at $5,279,663. 18.44% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. The Goldman Sachs Group lifted their target price on shares of StepStone Group from $57.00 to $63.00 and gave the stock a "neutral" rating in a research note on Wednesday. Barclays set a $62.00 target price on StepStone Group and gave the company an "equal weight" rating in a research report on Tuesday. Oppenheimer set a $67.00 price target on StepStone Group and gave the stock an "outperform" rating in a report on Wednesday, April 16th. Morgan Stanley cut their price objective on 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, Evercore ISI upped their target price 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. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $62.57.

StepStone Group Stock Down 1.7%

NASDAQ:STEP traded down $1.05 during trading hours on Thursday, reaching $59.21. 604,464 shares of the stock were exchanged, compared to its average volume of 684,097. StepStone Group LP has a twelve month low of $40.07 and a twelve month high of $70.38. The business has a 50-day moving average of $52.25 and a two-hundred day moving average of $57.83. The company has a market capitalization of $6.87 billion, a price-to-earnings ratio of -35.16 and a beta of 1.37.

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, topping the consensus estimate of $0.44 by $0.24. StepStone Group had a positive return on equity of 12.04% and a negative net margin of 11.29%. The firm had revenue of $295.86 million for the quarter, compared to analyst estimates of $231.87 million. During the same quarter in the prior year, the company earned $0.33 EPS. StepStone Group's revenue was up 66.8% on a year-over-year basis. On average, 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. Stockholders 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 annualized dividend and a dividend yield of 1.62%. StepStone Group's dividend payout ratio 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.