Renaissance Technologies LLC Has $13.36 Million Stake in StepStone Group LP (NASDAQ:STEP)

Renaissance Technologies LLC decreased its holdings in shares of StepStone Group LP (NASDAQ:STEP - Free Report) by 21.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 230,802 shares of the company's stock after selling 61,398 shares during the quarter. Renaissance Technologies LLC owned approximately 0.20% of StepStone Group worth $13,359,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Amundi boosted its holdings in StepStone Group by 26.7% in the fourth quarter. Amundi now owns 730 shares of the company's stock worth $42,000 after purchasing an additional 154 shares in the last quarter. Mutual of America Capital Management LLC lifted its position in shares of StepStone Group by 1.7% in the fourth quarter. Mutual of America Capital Management LLC now owns 9,578 shares of the company's stock worth $554,000 after buying an additional 157 shares during the last quarter. Blue Trust Inc. lifted its position in shares of StepStone Group by 25.5% in the fourth quarter. Blue Trust Inc. now owns 1,079 shares of the company's stock worth $61,000 after buying an additional 219 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of StepStone Group by 36.6% during the 4th quarter. GAMMA Investing LLC now owns 844 shares of the company's stock valued at $49,000 after acquiring an additional 226 shares during the last quarter. Finally, Louisiana State Employees Retirement System raised its stake in shares of StepStone Group by 1.0% in the 4th quarter. Louisiana State Employees Retirement System now owns 30,600 shares of the company's stock valued at $1,771,000 after acquiring an additional 300 shares in the last quarter. Institutional investors own 55.54% of the company's stock.

StepStone Group Stock Up 0.6 %

StepStone Group stock traded up $0.29 during mid-day trading on Friday, reaching $47.06. The company had a trading volume of 366,043 shares, compared to its average volume of 660,569. The company has a 50 day moving average of $53.50 and a 200-day moving average of $59.04. StepStone Group LP has a 52 week low of $34.91 and a 52 week high of $70.38. The firm has a market cap of $5.46 billion, a price-to-earnings ratio of -27.85 and a beta of 1.36.

StepStone Group Announces Dividend

The company also recently declared 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 was Friday, February 28th. This represents a $0.96 annualized dividend and a yield of 2.04%. StepStone Group's dividend payout ratio is -56.80%.

Wall Street Analyst Weigh In

Several equities analysts have commented on STEP shares. Evercore ISI increased their price target on StepStone Group from $63.00 to $69.00 and gave the company an "outperform" rating in a report on Monday, February 10th. Morgan Stanley decreased their price objective on shares of StepStone Group from $66.00 to $51.00 and set an "equal weight" rating for the company in a report on Monday, April 14th. Oppenheimer set a $67.00 target price on shares of StepStone Group and gave the stock an "outperform" rating in a report on Wednesday. Finally, Barclays decreased their price target on shares of StepStone Group from $69.00 to $48.00 and set an "equal weight" rating for the company in a report on Monday, April 7th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, StepStone Group currently has a consensus rating of "Hold" and an average price target of $61.64.

Insider Buying and Selling at StepStone Group

In related news, CAO Anthony Keathley sold 538 shares of the company's stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $63.00, for a total value of $33,894.00. Following the sale, the chief accounting officer now 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Scott W. Hart sold 10,000 shares of the firm's 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 transaction, the chief executive officer now owns 110,000 shares of the company's stock, valued at approximately $6,757,300. This represents a 8.33 % decrease in their position. The disclosure for this sale can be found here. Insiders own 18.44% of the company's stock.

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.