IFP Advisors Inc Invests $36,000 in StepStone Group LP (NASDAQ:STEP)

IFP Advisors Inc purchased a new position in StepStone Group LP (NASDAQ:STEP) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 608 shares of the company’s stock, valued at approximately $36,000.

A number of other hedge funds have also made changes to their positions in the stock. Barclays PLC raised its position in StepStone Group by 368.2% during the third quarter. Barclays PLC now owns 112,019 shares of the company’s stock valued at $6,366,000 after acquiring an additional 88,095 shares in the last quarter. Principal Financial Group Inc. raised its position in StepStone Group by 4.9% during the fourth quarter. Principal Financial Group Inc. now owns 438,130 shares of the company’s stock valued at $25,359,000 after acquiring an additional 20,285 shares in the last quarter. Geode Capital Management LLC raised its position in StepStone Group by 17.4% during the third quarter. Geode Capital Management LLC now owns 1,457,690 shares of the company’s stock valued at $82,856,000 after acquiring an additional 216,029 shares in the last quarter. Stifel Financial Corp raised its position in StepStone Group by 28.7% during the third quarter. Stifel Financial Corp now owns 41,916 shares of the company’s stock valued at $2,382,000 after acquiring an additional 9,357 shares in the last quarter. Finally, FORA Capital LLC bought a new position in StepStone Group during the third quarter valued at approximately $717,000. 55.54% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at StepStone Group

In other news, CAO Anthony Keathley sold 538 shares of the firm’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $63.00, for a total value of $33,894.00. Following the sale, the chief accounting officer now owns 1,386 shares in the company, valued at approximately $87,318. This trade represents a 27.96 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Scott W. Hart sold 10,000 shares of StepStone Group stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $61.43, for a total transaction of $614,300.00. Following the sale, the chief executive officer now owns 110,000 shares in the company, valued at $6,757,300. This represents a 8.33 % decrease in their position. The disclosure for this sale can be found here. 18.44% of the stock is currently owned by corporate insiders.

StepStone Group Trading Down 2.8 %

Shares of StepStone Group stock opened at $52.26 on Friday. The company’s fifty day simple moving average is $60.79 and its 200-day simple moving average is $59.99. The company has a market cap of $6.06 billion, a price-to-earnings ratio of -30.92 and a beta of 1.33. StepStone Group LP has a 1 year low of $32.58 and a 1 year high of $70.38.

StepStone Group Dividend Announcement

The business 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. The ex-dividend date is Friday, February 28th. This represents a $0.96 annualized dividend and a dividend yield of 1.84%. StepStone Group’s payout ratio is -56.80%.

Analyst Ratings Changes

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

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.