Vanguard Group Inc. Acquires 73,712 Shares of StepStone Group LP (NASDAQ:STEP)

Vanguard Group Inc. raised its holdings in StepStone Group LP (NASDAQ:STEPFree Report) by 1.4% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,179,170 shares of the company’s stock after buying an additional 73,712 shares during the quarter. Vanguard Group Inc. owned 4.69% of StepStone Group worth $163,558,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in STEP. Ensign Peak Advisors Inc raised its position in shares of StepStone Group by 67.1% during the third quarter. Ensign Peak Advisors Inc now owns 1,170 shares of the company’s stock valued at $29,000 after buying an additional 470 shares during the last quarter. Pinebridge Investments L.P. acquired a new position in StepStone Group in the 2nd quarter valued at approximately $31,000. Tower Research Capital LLC TRC lifted its position in shares of StepStone Group by 57.5% in the 1st quarter. Tower Research Capital LLC TRC now owns 1,389 shares of the company’s stock worth $34,000 after acquiring an additional 507 shares during the period. Point72 Hong Kong Ltd acquired a new stake in shares of StepStone Group during the 1st quarter worth approximately $36,000. Finally, Captrust Financial Advisors increased its position in shares of StepStone Group by 5,132.1% during the second quarter. Captrust Financial Advisors now owns 1,465 shares of the company’s stock valued at $38,000 after purchasing an additional 1,437 shares during the period. 55.54% of the stock is owned by institutional investors.

Insider Activity at StepStone Group

In other StepStone Group news, Director Thomas Keck sold 3,694 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $35.47, for a total transaction of $131,026.18. Following the sale, the director now owns 200,750 shares of the company’s stock, valued at approximately $7,120,602.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, major shareholder James Lim sold 9,008 shares of the company’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $35.06, for a total transaction of $315,820.48. Following the transaction, the insider now owns 6,388,746 shares of the company’s stock, valued at $223,989,434.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Thomas Keck sold 3,694 shares of StepStone Group stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $35.47, for a total value of $131,026.18. Following the completion of the sale, the director now owns 200,750 shares of the company’s stock, valued at $7,120,602.50. The disclosure for this sale can be found here. Insiders sold 91,514 shares of company stock valued at $3,233,084 over the last ninety days. 19.89% of the stock is owned by insiders.

StepStone Group Stock Down 2.5 %

NASDAQ:STEP opened at $34.83 on Tuesday. The firm has a market cap of $3.84 billion, a PE ratio of 38.70 and a beta of 1.26. StepStone Group LP has a 12 month low of $19.83 and a 12 month high of $37.40. The company’s 50-day moving average price is $34.42 and its two-hundred day moving average price is $31.10.

StepStone Group (NASDAQ:STEPGet Free Report) last announced its earnings results on Thursday, February 8th. The company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.25 by $0.12. The business had revenue of ($14.61) million during the quarter, compared to analyst estimates of $142.29 million. On average, research analysts expect that StepStone Group LP will post 1.1 EPS for the current fiscal year.

StepStone Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were paid a $0.21 dividend. The ex-dividend date was Wednesday, February 28th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.41%. StepStone Group’s dividend payout ratio (DPR) is presently 93.33%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on STEP shares. Barclays lifted their price target on shares of StepStone Group from $34.00 to $37.00 and gave the stock an “equal weight” rating in a research note on Monday, February 12th. Oppenheimer began coverage on shares of StepStone Group in a research note on Wednesday, March 20th. They issued an “outperform” rating and a $48.00 target price on the stock. Morgan Stanley raised their price target on shares of StepStone Group from $28.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 24th. Finally, TheStreet lowered StepStone Group from a “b-” rating to a “c+” rating in a research note on Friday, February 9th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, StepStone Group currently has an average rating of “Hold” and an average price target of $31.70.

Check Out Our Latest Report on StepStone Group

StepStone Group Profile

(Free Report)

StepStone Group LP. is an investment firm specializing in direct, fund of funds, secondary direct, and secondary indirect investments. For direct investment, it seeks to invest in venture debt, incubation, mezzanine, distressed/vulture, seed/startup, early venture, mid venture, late venture, emerging growth, later stage, turnaround, growth capital, industry consolidation, recapitalization, private equity and buyout investments in mature and middle market companies.

Further Reading

Institutional Ownership by Quarter for StepStone Group (NASDAQ:STEP)

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