StepStone Group LP (NASDAQ:STEP) Shares Acquired by T. Rowe Price Investment Management Inc.

T. Rowe Price Investment Management Inc. grew its position in StepStone Group LP (NASDAQ:STEP - Free Report) by 0.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,902,366 shares of the company's stock after buying an additional 14,888 shares during the quarter. T. Rowe Price Investment Management Inc. owned 1.65% of StepStone Group worth $110,109,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in STEP. Price T Rowe Associates Inc. MD raised its position in StepStone Group by 19.0% during the fourth 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. Harvest Investment Services LLC acquired a new stake in StepStone Group during the 4th quarter valued at $903,000. Hsbc Holdings PLC increased its position in StepStone Group by 114.4% during the fourth quarter. Hsbc Holdings PLC now owns 15,920 shares of the company's stock worth $928,000 after buying an additional 8,496 shares in the last quarter. Stifel Financial Corp lifted its position in shares of StepStone Group by 34.4% in the fourth quarter. Stifel Financial Corp now owns 56,347 shares of the company's stock valued at $3,261,000 after acquiring an additional 14,431 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its stake in shares of StepStone Group by 162.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 8,734 shares of the company's stock valued at $506,000 after acquiring an additional 5,402 shares during the last quarter. Institutional investors and hedge funds own 55.54% of the company's stock.

Insider Transactions at StepStone Group

In related news, CAO Anthony Keathley sold 538 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the chief accounting officer now owns 1,386 shares in the company, valued at $87,318. The trade was a 27.96 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Scott W. Hart sold 10,000 shares of StepStone Group stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $61.43, for a total transaction of $614,300.00. Following the completion of the sale, the chief executive officer now owns 110,000 shares in the company, 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. Corporate insiders own 18.44% of the company's stock.

StepStone Group Stock Down 1.5 %

Shares of StepStone Group stock traded down $0.77 during trading hours on Wednesday, hitting $49.45. 102,378 shares of the company's stock traded hands, compared to its average volume of 661,585. StepStone Group LP has a twelve month low of $35.25 and a twelve month high of $70.38. The company has a market cap of $5.74 billion, a PE ratio of -29.26 and a beta of 1.36. The stock has a 50 day simple moving average of $51.66 and a 200-day simple moving average of $58.49.

StepStone Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were issued a $0.24 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.96 annualized dividend and a yield of 1.94%. StepStone Group's dividend payout ratio is presently -56.80%.

Analyst Ratings Changes

Several equities research analysts have issued reports on STEP shares. Barclays decreased their price target on shares of StepStone Group from $69.00 to $48.00 and set an "equal weight" rating on the stock in a research note on Monday, April 7th. Oppenheimer set a $67.00 price target on StepStone Group and gave the stock an "outperform" rating in a research note on Wednesday, April 16th. Morgan Stanley lowered 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 lifted 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. 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.com, StepStone Group presently has a consensus rating of "Hold" and an average price target of $61.64.

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.