StepStone Group LP (NASDAQ:STEP) Shares Acquired by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. increased its holdings in StepStone Group LP (NASDAQ:STEP) by 3.0% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 24,644 shares of the company’s stock after buying an additional 722 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in StepStone Group were worth $784,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of STEP. SG Americas Securities LLC acquired a new position in shares of StepStone Group in the 3rd quarter valued at about $550,000. Handelsbanken Fonder AB acquired a new position in shares of StepStone Group in the 3rd quarter valued at about $257,000. Bank of New York Mellon Corp boosted its holdings in shares of StepStone Group by 90.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 772,921 shares of the company’s stock valued at $24,409,000 after buying an additional 367,507 shares during the period. Principal Financial Group Inc. boosted its stake in StepStone Group by 30.1% during the 3rd quarter. Principal Financial Group Inc. now owns 21,974 shares of the company’s stock valued at $694,000 after purchasing an additional 5,089 shares during the period. Finally, Victory Capital Management Inc. acquired a new position in StepStone Group during the 3rd quarter valued at about $365,000. 55.54% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Thomas Keck sold 3,694 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $35.47, for a total value of $131,026.18. Following the sale, the director now directly owns 200,750 shares in the company, valued at approximately $7,120,602.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, major shareholder James Lim sold 9,008 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $35.06, for a total transaction of $315,820.48. Following the sale, the insider now owns 6,388,746 shares in the company, valued at $223,989,434.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Thomas Keck sold 3,694 shares of the business’s stock in a transaction that occurred on 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 in the company, valued at approximately $7,120,602.50. The disclosure for this sale can be found here. Insiders have sold 91,514 shares of company stock worth $3,233,084 in the last ninety days. 18.50% of the stock is currently owned by corporate insiders.

StepStone Group Trading Up 0.0 %

Shares of NASDAQ:STEP opened at $35.80 on Thursday. The company has a 50 day moving average of $34.91 and a 200-day moving average of $31.64. The firm has a market cap of $3.95 billion, a P/E ratio of 39.78 and a beta of 1.25. StepStone Group LP has a twelve month low of $19.83 and a twelve month high of $38.25.

StepStone Group (NASDAQ:STEP) last released its earnings results on Thursday, February 8th. The company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.12. The business had revenue of ($14.61) million during the quarter, compared to the consensus estimate of $142.29 million. Equities research analysts forecast that StepStone Group LP will post 1.11 EPS for the current year.

StepStone Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were issued a $0.21 dividend. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.35%. StepStone Group’s payout ratio is currently 93.33%.

Analysts Set New Price Targets

A number of research analysts have issued reports on STEP shares. Oppenheimer started coverage on shares of StepStone Group in a research note on Wednesday, March 20th. They set an “outperform” rating and a $48.00 target price for the company. TheStreet lowered shares of StepStone Group from a “b-” rating to a “c+” rating in a research note on Friday, February 9th. UBS Group boosted their target price on shares of StepStone Group from $37.00 to $38.00 and gave the company a “neutral” rating in a research note on Friday, April 12th. Barclays boosted their target price on shares of StepStone Group from $37.00 to $38.00 and gave the company an “equal weight” rating in a research note on Monday, April 8th. Finally, JPMorgan Chase & Co. raised shares of StepStone Group from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $40.00 to $49.00 in a research note on Thursday, April 11th. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $35.21.

About StepStone Group

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.