Invesco Ltd. Increases Stock Holdings in StepStone Group LP (NASDAQ:STEP)

Invesco Ltd. lifted its holdings in StepStone Group LP (NASDAQ:STEP - Free Report) by 11.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,542,270 shares of the company's stock after purchasing an additional 366,154 shares during the quarter. Invesco Ltd. owned 3.08% of StepStone Group worth $205,027,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Raymond James Financial Inc. bought a new stake in StepStone Group during the fourth quarter valued at about $46,163,000. Massachusetts Financial Services Co. MA purchased a new stake in StepStone Group in the 4th quarter worth $32,340,000. Vanguard Group Inc. raised its holdings in StepStone Group by 6.3% during the fourth quarter. Vanguard Group Inc. now owns 6,938,181 shares of the company's stock valued at $401,582,000 after acquiring an additional 411,133 shares during the period. CIBC Private Wealth Group LLC lifted its position in shares of StepStone Group by 26.8% in the fourth quarter. CIBC Private Wealth Group LLC now owns 1,409,089 shares of the company's stock valued at $85,518,000 after acquiring an additional 297,989 shares in the last quarter. Finally, State Street Corp grew its position in shares of StepStone Group by 12.4% during the third quarter. State Street Corp now owns 2,401,034 shares of the company's stock worth $136,451,000 after purchasing an additional 265,240 shares in the last quarter. Institutional investors own 55.54% of the company's stock.

Insider Buying and Selling at StepStone Group

In other news, CEO Scott W. Hart sold 10,000 shares of StepStone Group stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $61.43, for a total transaction of $614,300.00. Following the sale, the chief executive officer now owns 110,000 shares in the company, valued at approximately $6,757,300. The trade was a 8.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Anthony Keathley sold 538 shares of the stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $63.00, for a total value of $33,894.00. Following the completion of the sale, the chief accounting officer now directly owns 1,386 shares of the company's stock, valued at $87,318. The trade was a 27.96 % 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

Several brokerages recently weighed in on STEP. Morgan Stanley reduced their price target on shares of StepStone Group from $66.00 to $51.00 and set an "equal weight" rating on the stock in a research report on Monday. Barclays decreased their price target on StepStone Group from $69.00 to $48.00 and set an "equal weight" rating for the company in a research note on Monday, April 7th. Oppenheimer set a $67.00 price target on shares of StepStone Group and gave the stock an "outperform" rating in a research report on Wednesday. Finally, Evercore ISI raised their price objective on StepStone Group from $63.00 to $69.00 and gave the company an "outperform" rating in a research report on Monday, February 10th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $61.64.

StepStone Group Stock Up 1.0 %

STEP stock traded up $0.48 during midday trading on Thursday, hitting $47.25. The company's stock had a trading volume of 111,396 shares, compared to its average volume of 656,987. The firm has a 50-day simple moving average of $54.05 and a 200-day simple moving average of $59.19. The firm has a market capitalization of $5.48 billion, a P/E ratio of -27.89 and a beta of 1.36. StepStone Group LP has a 52-week low of $34.91 and a 52-week high of $70.38.

StepStone Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were paid a dividend of $0.24 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.96 annualized dividend and a yield of 2.03%. StepStone Group's payout ratio is -56.80%.

About StepStone Group

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.