State of New Jersey Common Pension Fund D Sells 4,197 Shares of StepStone Group LP (NASDAQ:STEP)

State of New Jersey Common Pension Fund D cut its holdings in StepStone Group LP (NASDAQ:STEP) by 11.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 32,146 shares of the company’s stock after selling 4,197 shares during the period. State of New Jersey Common Pension Fund D’s holdings in StepStone Group were worth $1,861,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Raleigh Capital Management Inc. bought a new stake in shares of StepStone Group in the fourth quarter valued at approximately $29,000. Blue Trust Inc. raised its stake in StepStone Group by 1,586.3% during the 3rd quarter. Blue Trust Inc. now owns 860 shares of the company’s stock valued at $49,000 after purchasing an additional 809 shares during the last quarter. GAMMA Investing LLC boosted its holdings in StepStone Group by 36.6% in the 4th quarter. GAMMA Investing LLC now owns 844 shares of the company’s stock valued at $49,000 after purchasing an additional 226 shares during the period. US Bancorp DE grew its position in StepStone Group by 442.7% in the 3rd 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 position in shares of StepStone Group during the 3rd quarter worth about $63,000. Institutional investors and hedge funds own 55.54% of the company’s stock.

StepStone Group Price Performance

Shares of STEP stock opened at $58.06 on Tuesday. The stock’s fifty day simple moving average is $61.11 and its 200 day simple moving average is $59.75. StepStone Group LP has a one year low of $32.58 and a one year high of $70.38. The firm has a market cap of $6.73 billion, a price-to-earnings ratio of -34.36 and a beta of 1.31.

StepStone Group Dividend Announcement

The company also recently announced 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 of this dividend is Friday, February 28th. This represents a $0.96 annualized dividend and a dividend yield of 1.65%. StepStone Group’s dividend payout ratio is presently -56.80%.

Analysts Set New Price Targets

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

Insider Buying and Selling

In other StepStone Group news, CEO Scott W. Hart sold 10,000 shares of the business’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $61.43, for a total value 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Michael I. Mccabe sold 4,000 shares of the firm’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 completion of the sale, the insider now owns 686,516 shares of the company’s stock, valued at approximately $44,108,653. This trade represents a 0.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 36,629 shares of company stock worth $2,302,229 in the last quarter. 18.44% of the stock is owned by corporate insiders.

About StepStone Group

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.