Geode Capital Management LLC Has $87.34 Million Stock Position in StepStone Group LP (NASDAQ:STEP)

Geode Capital Management LLC lifted its position in shares of StepStone Group LP (NASDAQ:STEP - Free Report) by 3.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 1,508,666 shares of the company's stock after purchasing an additional 50,976 shares during the quarter. Geode Capital Management LLC owned about 1.31% of StepStone Group worth $87,341,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of STEP. Barclays PLC lifted its position in StepStone Group by 368.2% during the 3rd quarter. Barclays PLC now owns 112,019 shares of the company's stock worth $6,366,000 after acquiring an additional 88,095 shares in the last quarter. Oppenheimer & Co. Inc. purchased a new stake in StepStone Group during the 4th quarter worth $388,000. Cibc World Markets Corp acquired a new position in StepStone Group in the 4th quarter worth $355,000. Proficio Capital Partners LLC acquired a new stake in shares of StepStone Group during the fourth quarter valued at about $941,000. Finally, Principal Financial Group Inc. grew its stake in StepStone Group by 4.9% during the 4th quarter. Principal Financial Group Inc. now owns 438,130 shares of the company's stock valued at $25,359,000 after purchasing an additional 20,285 shares in the last quarter. 55.54% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Morgan Stanley decreased their price target on StepStone Group from $66.00 to $51.00 and set an "equal weight" rating for the company in a research note on Monday. Evercore ISI increased their target price 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. Barclays lowered their target price on StepStone Group from $69.00 to $48.00 and set an "equal weight" rating for the company in a report on Monday, April 7th. Finally, Oppenheimer lifted their price objective on shares of StepStone Group from $81.00 to $85.00 and gave the company an "outperform" rating in a research report on Friday, February 7th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $64.21.

StepStone Group Price Performance

Shares of STEP traded down $0.92 during trading hours on Wednesday, hitting $46.90. 37,890 shares of the company were exchanged, compared to its average volume of 655,635. StepStone Group LP has a one year low of $34.64 and a one year high of $70.38. The company has a market capitalization of $5.44 billion, a PE ratio of -27.75 and a beta of 1.36. The firm has a fifty day simple moving average of $54.40 and a 200-day simple moving average of $59.28.

StepStone Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were given a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 2.05%. The ex-dividend date was Friday, February 28th. StepStone Group's dividend payout ratio (DPR) is currently -56.80%.

Insider Activity at StepStone Group

In other news, CAO Anthony Keathley sold 538 shares of StepStone Group stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $63.00, for a total transaction of $33,894.00. Following the transaction, the chief accounting officer now owns 1,386 shares in the company, valued at approximately $87,318. The trade was a 27.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Scott W. Hart sold 10,000 shares of the stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $61.43, for a total value of $614,300.00. Following the completion of the sale, the chief executive officer now directly owns 110,000 shares of the company's stock, valued at approximately $6,757,300. This represents a 8.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 18.44% of the stock is owned by insiders.

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.