US Bancorp DE Raises Position in StepStone Group LP (NASDAQ:STEP)

US Bancorp DE lifted its stake in shares of StepStone Group LP (NASDAQ:STEP) by 442.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 966 shares of the company’s stock after acquiring an additional 788 shares during the quarter. US Bancorp DE’s holdings in StepStone Group were worth $55,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of STEP. GAMMA Investing LLC increased its holdings in StepStone Group by 291.1% during the 3rd quarter. GAMMA Investing LLC now owns 618 shares of the company’s stock worth $35,000 after purchasing an additional 460 shares during the period. Blue Trust Inc. grew its position in shares of StepStone Group by 1,586.3% during the third quarter. Blue Trust Inc. now owns 860 shares of the company’s stock worth $49,000 after buying an additional 809 shares in the last quarter. CWM LLC increased its stake in shares of StepStone Group by 190.4% during the third quarter. CWM LLC now owns 1,185 shares of the company’s stock worth $67,000 after buying an additional 777 shares during the period. SG Americas Securities LLC acquired a new stake in StepStone Group in the second quarter valued at approximately $111,000. Finally, Acadian Asset Management LLC purchased a new position in StepStone Group in the second quarter worth approximately $206,000. 55.54% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

STEP has been the topic of a number of analyst reports. Oppenheimer raised their price objective on shares of StepStone Group from $56.00 to $73.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Barclays upped their price objective on StepStone Group from $51.00 to $61.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. JPMorgan Chase & Co. increased their price objective on StepStone Group from $56.00 to $61.00 and gave the company an “overweight” rating in a report on Tuesday, October 1st. UBS Group boosted their target price on StepStone Group from $55.00 to $65.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. Finally, The Goldman Sachs Group increased their price target on shares of StepStone Group from $51.50 to $57.00 and gave the company a “neutral” rating in a research note on Monday, September 30th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $62.43.

StepStone Group Price Performance

StepStone Group stock opened at $65.00 on Monday. The business has a 50 day simple moving average of $59.47 and a 200-day simple moving average of $50.70. StepStone Group LP has a 12 month low of $25.06 and a 12 month high of $70.38. The stock has a market capitalization of $7.19 billion, a PE ratio of 108.34 and a beta of 1.27.

StepStone Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be issued a dividend of $0.24 per share. The ex-dividend date is Friday, November 29th. This represents a $0.96 annualized dividend and a yield of 1.48%. StepStone Group’s dividend payout ratio is currently 160.00%.

Insider Buying and Selling

In other news, CFO David Y. Park sold 3,000 shares of StepStone Group stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $68.21, for a total transaction of $204,630.00. Following the completion of the sale, the chief financial officer now directly owns 20,251 shares in the company, valued at approximately $1,381,320.71. This trade represents a 12.90 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Anthony Keathley sold 729 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $68.85, for a total value of $50,191.65. Following the completion of the sale, the chief accounting officer now owns 2,158 shares in the company, valued at approximately $148,578.30. This represents a 25.25 % decrease in their position. The disclosure for this sale can be found here. 18.44% of the stock is currently owned by corporate insiders.

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.