Geode Capital Management LLC boosted its position in shares of StepStone Group LP (NASDAQ:STEP - Free Report) by 17.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,457,690 shares of the company's stock after acquiring an additional 216,029 shares during the quarter. Geode Capital Management LLC owned 1.32% of StepStone Group worth $82,856,000 at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of STEP. GAMMA Investing LLC raised its stake in shares of StepStone Group by 291.1% in the third quarter. GAMMA Investing LLC now owns 618 shares of the company's stock valued at $35,000 after acquiring an additional 460 shares in the last quarter. KBC Group NV boosted its holdings in StepStone Group by 35.7% in the third quarter. KBC Group NV now owns 1,840 shares of the company's stock valued at $105,000 after purchasing an additional 484 shares in the last quarter. CWM LLC increased its stake in StepStone Group by 190.4% in the third quarter. CWM LLC now owns 1,185 shares of the company's stock valued at $67,000 after purchasing an additional 777 shares during the last quarter. US Bancorp DE raised its holdings in StepStone Group by 442.7% during the third quarter. US Bancorp DE now owns 966 shares of the company's stock worth $55,000 after purchasing an additional 788 shares in the last quarter. Finally, Blue Trust Inc. lifted its position in shares of StepStone Group by 1,586.3% during the 3rd quarter. Blue Trust Inc. now owns 860 shares of the company's stock worth $49,000 after buying an additional 809 shares during the last quarter. 55.54% of the stock is owned by institutional investors and hedge funds.
A number of analysts have recently commented on the company. Morgan Stanley lifted 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. JPMorgan Chase & Co. boosted their price objective on StepStone Group from $56.00 to $61.00 and gave the company an "overweight" rating in a research note on Tuesday, October 1st. The Goldman Sachs Group raised their target price on shares of StepStone Group from $64.00 to $70.50 and gave the stock a "neutral" rating in a research report on Tuesday, November 19th. Barclays reduced their price target on shares of StepStone Group from $72.00 to $66.00 and set an "equal weight" rating for the company in a research report on Monday, December 9th. Finally, UBS Group raised their price objective on shares of StepStone Group from $55.00 to $65.00 and gave the stock a "neutral" rating in a research report on Tuesday, October 22nd. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $66.64.
Check Out Our Latest Analysis on StepStone Group
In other StepStone Group news, insider Michael I. Mccabe sold 4,000 shares of the stock in a transaction dated 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 transaction, the insider now directly 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Anthony Keathley sold 729 shares of the business's stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $68.85, for a total value of $50,191.65. Following the sale, the chief accounting officer now directly owns 2,158 shares in the company, valued at $148,578.30. This trade represents a 25.25 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 29,820 shares of company stock valued at $1,908,856. 18.44% of the stock is owned by corporate insiders.
Shares of StepStone Group stock opened at $58.33 on Friday. The company has a market cap of $6.72 billion, a P/E ratio of 97.22 and a beta of 1.27. The firm has a fifty day moving average of $62.79 and a two-hundred day moving average of $54.57. StepStone Group LP has a one year low of $29.17 and a one year high of $70.38.
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were given a $0.24 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.96 dividend on an annualized basis and a yield of 1.65%. StepStone Group's payout ratio is currently 160.00%.
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.
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