StepStone Group LP (NASDAQ:STEP) Shares Acquired by New York State Teachers Retirement System

New York State Teachers Retirement System increased its stake in StepStone Group LP (NASDAQ:STEP) by 8.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,973 shares of the company’s stock after acquiring an additional 1,300 shares during the period. New York State Teachers Retirement System’s holdings in StepStone Group were worth $925,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of STEP. CWM LLC raised its stake in shares of StepStone Group by 190.4% in the third quarter. CWM LLC now owns 1,185 shares of the company’s stock valued at $67,000 after acquiring an additional 777 shares in the last quarter. Creative Planning raised its stake in shares of StepStone Group by 20.7% in the third quarter. Creative Planning now owns 22,547 shares of the company’s stock valued at $1,281,000 after acquiring an additional 3,873 shares in the last quarter. Blue Trust Inc. increased its holdings in StepStone Group by 1,586.3% in the third quarter. Blue Trust Inc. now owns 860 shares of the company’s stock valued at $49,000 after buying an additional 809 shares during the last quarter. Louisiana State Employees Retirement System lifted its holdings in StepStone Group by 15.6% during the 3rd quarter. Louisiana State Employees Retirement System now owns 30,300 shares of the company’s stock worth $1,722,000 after buying an additional 4,100 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in StepStone Group during the 3rd quarter worth about $412,000. 55.54% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have issued reports on STEP shares. Morgan Stanley lifted their price target on StepStone Group from $60.00 to $65.00 and gave the stock an “equal weight” rating in a report on Thursday, November 14th. The Goldman Sachs Group lifted their price target on StepStone Group from $64.00 to $70.50 and gave the stock a “neutral” rating in a report on Tuesday, November 19th. Oppenheimer lifted their price target on StepStone Group from $81.00 to $85.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Barclays lifted their price target on StepStone Group from $66.00 to $69.00 and gave the stock an “equal weight” rating in a report on Friday, February 7th. Finally, Evercore ISI lifted their price target on StepStone Group from $63.00 to $69.00 and gave the stock an “outperform” rating in a report on Monday, February 10th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $69.21.

StepStone Group Stock Performance

STEP opened at $58.59 on Monday. The business’s 50-day simple moving average is $61.22 and its 200-day simple moving average is $59.67. StepStone Group LP has a one year low of $32.58 and a one year high of $70.38. The stock has a market capitalization of $6.80 billion, a P/E ratio of -34.67 and a beta of 1.31.

StepStone Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 1.64%. The ex-dividend date is Friday, February 28th. StepStone Group’s dividend payout ratio (DPR) is presently -56.80%.

Insider Activity at StepStone Group

In related news, CEO Scott W. Hart sold 22,091 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $63.24, for a total value of $1,397,034.84. Following the transaction, the chief executive officer now owns 157,909 shares in the company, valued at $9,986,165.16. The trade was a 12.27 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Michael I. Mccabe sold 4,000 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $64.25, for a total value of $257,000.00. Following the completion of the transaction, the insider now owns 686,516 shares in the company, valued at $44,108,653. This trade represents a 0.58 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 36,629 shares of company stock worth $2,302,229 in the last quarter. Company insiders own 18.44% of the company’s stock.

StepStone Group Company 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.