Cim LLC Invests $1.49 Million in StepStone Group LP (NASDAQ:STEP)

Cim LLC bought a new stake in StepStone Group LP (NASDAQ:STEP) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor bought 32,441 shares of the company’s stock, valued at approximately $1,489,000.

Several other hedge funds have also bought and sold shares of the company. SG Americas Securities LLC acquired a new stake in shares of StepStone Group during the 2nd quarter worth about $111,000. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in StepStone Group during the first quarter worth approximately $149,000. Acadian Asset Management LLC bought a new stake in shares of StepStone Group during the second quarter worth approximately $206,000. XTX Topco Ltd acquired a new position in shares of StepStone Group in the second quarter valued at approximately $266,000. Finally, Versor Investments LP bought a new position in shares of StepStone Group during the second quarter worth approximately $303,000. 55.54% of the stock is currently owned by institutional investors and hedge funds.

StepStone Group Price Performance

STEP opened at $58.08 on Wednesday. The company’s 50 day moving average price is $52.44 and its two-hundred day moving average price is $44.57. The firm has a market capitalization of $6.43 billion, a price-to-earnings ratio of 64.53 and a beta of 1.28. StepStone Group LP has a fifty-two week low of $25.06 and a fifty-two week high of $58.17.

StepStone Group (NASDAQ:STEP) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.13. The company had revenue of $186.40 million for the quarter, compared to the consensus estimate of $181.15 million. During the same quarter last year, the business earned $0.26 earnings per share. StepStone Group’s revenue was up 4.7% compared to the same quarter last year. As a group, equities research analysts predict that StepStone Group LP will post 1.83 EPS for the current year.

StepStone Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.65%. The ex-dividend date of this dividend was Friday, August 30th. This is an increase from StepStone Group’s previous quarterly dividend of $0.21. StepStone Group’s payout ratio is presently 106.67%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on STEP shares. The Goldman Sachs Group lifted their target price on StepStone Group from $51.50 to $57.00 and gave the stock a “neutral” rating in a report on Monday. UBS Group lifted their price objective on shares of StepStone Group from $44.00 to $55.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 21st. Evercore ISI increased their target price on shares of StepStone Group from $41.00 to $48.00 and gave the stock an “outperform” rating in a research report on Monday, July 15th. Morgan Stanley raised their target price on shares of StepStone Group from $43.00 to $52.00 and gave the stock an “equal weight” rating in a report on Monday, August 19th. Finally, JPMorgan Chase & Co. boosted their price target on StepStone Group from $56.00 to $61.00 and gave the company an “overweight” rating in a research note on Tuesday. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, StepStone Group has a consensus rating of “Hold” and an average target price of $47.19.

StepStone Group Company Profile

StepStone Group LP. is an investment firm specializing in direct, fund of funds, secondary direct, and secondary indirect investments. For direct investment, it seeks to invest in venture debt, incubation, mezzanine, distressed/vulture, seed/startup, early venture, mid venture, late venture, emerging growth, later stage, turnaround, growth capital, industry consolidation, recapitalization, private equity and buyout investments in mature and middle market companies.