Rhumbline Advisers Grows Position in StepStone Group LP (NASDAQ:STEP)

Rhumbline Advisers increased its holdings in StepStone Group LP (NASDAQ:STEP) by 3.2% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 171,194 shares of the company’s stock after buying an additional 5,377 shares during the quarter. Rhumbline Advisers owned about 0.15% of StepStone Group worth $9,909,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the business. Raleigh Capital Management Inc. bought a new position in shares of StepStone Group during the 4th quarter valued at $29,000. GAMMA Investing LLC increased its position in StepStone Group by 36.6% during the fourth quarter. GAMMA Investing LLC now owns 844 shares of the company’s stock valued at $49,000 after acquiring an additional 226 shares during the last quarter. Blue Trust Inc. lifted 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 acquiring an additional 809 shares during the period. US Bancorp DE boosted its position in StepStone Group by 442.7% in the third quarter. US Bancorp DE now owns 966 shares of the company’s stock worth $55,000 after purchasing an additional 788 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd bought a new stake in shares of StepStone Group during the 3rd quarter valued at about $63,000. Hedge funds and other institutional investors own 55.54% of the company’s stock.

Insider Buying and Selling

In other StepStone Group news, insider Michael I. Mccabe sold 4,000 shares of the business’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $64.25, for a total value of $257,000.00. Following the sale, the insider now owns 686,516 shares in the company, valued at $44,108,653. The trade was a 0.58 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Anthony Keathley sold 538 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $63.00, for a total value of $33,894.00. Following the transaction, the chief accounting officer now owns 1,386 shares of the company’s stock, valued at approximately $87,318. The trade was a 27.96 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 36,629 shares of company stock worth $2,302,229. 18.44% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on STEP. Morgan Stanley increased their price objective on shares of StepStone Group from $60.00 to $65.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 14th. Oppenheimer lifted their price target on shares of StepStone Group from $81.00 to $85.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. Barclays upped their price objective on StepStone Group from $66.00 to $69.00 and gave the stock an “equal weight” rating in a research note on Friday, February 7th. Evercore ISI raised their target price on StepStone Group from $63.00 to $69.00 and gave the stock an “outperform” rating in a report on Monday, February 10th. Finally, The Goldman Sachs Group boosted their price target on StepStone Group from $64.00 to $70.50 and gave the company a “neutral” rating in a report on Tuesday, November 19th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $69.21.

StepStone Group Stock Performance

Shares of StepStone Group stock opened at $58.06 on Tuesday. StepStone Group LP has a fifty-two week low of $32.58 and a fifty-two week high of $70.38. The company has a market capitalization of $6.73 billion, a P/E ratio of -34.36 and a beta of 1.31. The company has a fifty day moving average of $61.11 and a 200 day moving average of $59.75.

StepStone Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.65%. The ex-dividend date of this dividend is Friday, February 28th. StepStone Group’s dividend payout ratio (DPR) is -56.80%.

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.