StepStone Group LP (NASDAQ:STEP) Shares Acquired by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC increased its holdings in StepStone Group LP (NASDAQ:STEP) by 10.2% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,421 shares of the company’s stock after buying an additional 871 shares during the period. Mutual of America Capital Management LLC’s holdings in StepStone Group were worth $535,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp lifted its holdings in shares of StepStone Group by 25.3% in the second quarter. Bank of New York Mellon Corp now owns 1,115,384 shares of the company’s stock valued at $51,185,000 after purchasing an additional 225,201 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of StepStone Group by 150.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 850,463 shares of the company’s stock worth $30,396,000 after purchasing an additional 510,283 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in StepStone Group by 8.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 800,909 shares of the company’s stock valued at $36,753,000 after buying an additional 60,339 shares in the last quarter. Principal Financial Group Inc. grew its holdings in StepStone Group by 43.3% during the 3rd quarter. Principal Financial Group Inc. now owns 417,845 shares of the company’s stock valued at $23,746,000 after buying an additional 126,315 shares during the last quarter. Finally, Rhumbline Advisers increased its position in StepStone Group by 101.5% during the second quarter. Rhumbline Advisers now owns 150,528 shares of the company’s stock worth $6,908,000 after buying an additional 75,824 shares in the last quarter. 55.54% of the stock is currently owned by hedge funds and other institutional investors.

StepStone Group Stock Performance

StepStone Group stock opened at $66.73 on Wednesday. The company has a market cap of $7.68 billion, a price-to-earnings ratio of 111.22 and a beta of 1.27. StepStone Group LP has a 1 year low of $25.06 and a 1 year high of $70.38. The firm has a 50 day moving average price of $61.37 and a 200 day moving average price of $52.10.

StepStone Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be issued a dividend of $0.24 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.44%. StepStone Group’s payout ratio is 160.00%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on STEP shares. Barclays upped their price objective on StepStone Group from $51.00 to $61.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. UBS Group upped their target price on shares of StepStone Group from $55.00 to $65.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. JPMorgan Chase & Co. lifted their price target on shares of StepStone Group from $56.00 to $61.00 and gave the stock an “overweight” rating in a report on Tuesday, October 1st. The Goldman Sachs Group upped their price objective on shares of StepStone Group from $64.00 to $70.50 and gave the company a “neutral” rating in a research note on Tuesday, November 19th. Finally, Evercore ISI lifted their target price on shares of StepStone Group from $52.00 to $55.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $64.36.

Insider Buying and Selling

In other StepStone Group news, CFO David Y. Park sold 3,000 shares of the company’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $68.21, for a total transaction of $204,630.00. Following the completion of the sale, the chief financial officer now directly owns 20,251 shares in the company, valued at $1,381,320.71. This represents a 12.90 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Anthony Keathley sold 729 shares of StepStone Group 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 directly owns 2,158 shares in the company, valued at $148,578.30. This represents a 25.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate 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.