StepStone Group LP (NASDAQ:STEP) Position Boosted by Swiss National Bank

Swiss National Bank lifted its stake in StepStone Group LP (NASDAQ:STEP) by 12.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 126,900 shares of the company’s stock after purchasing an additional 14,100 shares during the quarter. Swiss National Bank owned 0.11% of StepStone Group worth $7,345,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in the stock. Steward Partners Investment Advisory LLC acquired a new stake in shares of StepStone Group during the 4th quarter valued at $27,000. Raleigh Capital Management Inc. purchased a new position in StepStone Group in the fourth quarter valued at about $29,000. IFP Advisors Inc acquired a new position in StepStone Group in the 4th quarter worth about $36,000. Amundi raised its stake in shares of StepStone Group by 26.7% during the 4th quarter. Amundi now owns 730 shares of the company’s stock worth $42,000 after purchasing an additional 154 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of StepStone Group by 36.6% during the 4th quarter. GAMMA Investing LLC now owns 844 shares of the company’s stock valued at $49,000 after buying an additional 226 shares during the last quarter. 55.54% of the stock is currently owned by institutional investors and hedge funds.

StepStone Group Price Performance

StepStone Group stock opened at $53.87 on Friday. StepStone Group LP has a fifty-two week low of $33.90 and a fifty-two week high of $70.38. The firm has a fifty day moving average price of $59.39 and a two-hundred day moving average price of $59.96. The firm has a market cap of $6.25 billion, a price-to-earnings ratio of -31.88 and a beta of 1.33.

StepStone Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were paid a dividend of $0.24 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.96 annualized dividend and a yield of 1.78%. StepStone Group’s payout ratio is -56.80%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Oppenheimer raised their price objective 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. Barclays raised their price target on shares of StepStone Group from $66.00 to $69.00 and gave the company an “equal weight” rating in a report on Friday, February 7th. Finally, Evercore ISI upped their price objective on shares of StepStone Group from $63.00 to $69.00 and gave the stock an “outperform” rating in a report on Monday, February 10th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $69.21.

Insider Buying and Selling 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 the company’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $61.43, for a total transaction of $614,300.00. Following the transaction, the chief executive officer now owns 110,000 shares of the company’s stock, valued at approximately $6,757,300. The trade was a 8.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.