StepStone Group LP (NASDAQ:STEP) Shares Bought by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. grew its holdings in StepStone Group LP (NASDAQ:STEP) by 16.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 596,851 shares of the company’s stock after purchasing an additional 84,762 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.54% of StepStone Group worth $33,919,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of the business. Intech Investment Management LLC acquired a new position in shares of StepStone Group in the 3rd quarter valued at $850,000. Swiss National Bank lifted its stake in shares of StepStone Group by 5.0% in the 3rd quarter. Swiss National Bank now owns 112,800 shares of the company’s stock valued at $6,410,000 after purchasing an additional 5,400 shares during the last quarter. Thrivent Financial for Lutherans lifted its stake in shares of StepStone Group by 0.9% in the 3rd quarter. Thrivent Financial for Lutherans now owns 127,742 shares of the company’s stock valued at $7,260,000 after purchasing an additional 1,125 shares during the last quarter. Mutual of America Capital Management LLC lifted its stake in shares of StepStone Group by 10.2% in the 3rd quarter. Mutual of America Capital Management LLC now owns 9,421 shares of the company’s stock valued at $535,000 after purchasing an additional 871 shares during the last quarter. Finally, CIBC Asset Management Inc acquired a new position in shares of StepStone Group in the 3rd quarter valued at $269,000. Institutional investors and hedge funds own 55.54% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on STEP shares. JPMorgan Chase & Co. increased their target price on StepStone Group from $56.00 to $61.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 1st. Barclays increased their target price on StepStone Group from $51.00 to $61.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. UBS Group increased 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. Oppenheimer increased their target price on StepStone Group from $56.00 to $73.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Finally, The Goldman Sachs Group increased their target price on StepStone Group from $64.00 to $70.50 and gave the stock a “neutral” rating in a research note on Tuesday, November 19th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $64.36.

StepStone Group Price Performance

Shares of NASDAQ STEP opened at $62.85 on Wednesday. The stock’s 50-day moving average is $62.23 and its two-hundred day moving average is $53.06. StepStone Group LP has a 1-year low of $25.06 and a 1-year high of $70.38. The company has a market cap of $7.24 billion, a price-to-earnings ratio of 104.75 and a beta of 1.27.

StepStone Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders 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 1.53%. StepStone Group’s dividend payout ratio (DPR) is 160.00%.

Insider Activity

In other news, CFO David Y. Park sold 3,000 shares of the stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $68.21, for a total value of $204,630.00. Following the transaction, the chief financial officer now owns 20,251 shares in the company, valued at approximately $1,381,320.71. This represents a 12.90 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Anthony Keathley sold 729 shares of the stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $68.85, for a total value of $50,191.65. Following the completion of the transaction, the chief accounting officer now owns 2,158 shares in the company, valued at approximately $148,578.30. The trade was a 25.25 % decrease in their position. The disclosure for this sale can be found here. Company 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.