114,485 Shares in StepStone Group LP (NASDAQ:STEP) Bought by Public Sector Pension Investment Board

Public Sector Pension Investment Board acquired a new stake in shares of StepStone Group LP (NASDAQ:STEP) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 114,485 shares of the company’s stock, valued at approximately $5,254,000. Public Sector Pension Investment Board owned approximately 0.10% of StepStone Group as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Los Angeles Capital Management LLC lifted its holdings in StepStone Group by 74.3% in the 1st quarter. Los Angeles Capital Management LLC now owns 50,099 shares of the company’s stock valued at $1,791,000 after purchasing an additional 21,354 shares in the last quarter. Capital Research Global Investors boosted its position in StepStone Group by 27.8% during the fourth quarter. Capital Research Global Investors now owns 628,532 shares of the company’s stock worth $20,006,000 after acquiring an additional 136,542 shares during the last quarter. Wellington Management Group LLP grew its stake in StepStone Group by 9.8% during the 4th quarter. Wellington Management Group LLP now owns 6,994,497 shares of the company’s stock valued at $222,635,000 after acquiring an additional 627,059 shares in the last quarter. Principal Financial Group Inc. lifted its stake in StepStone Group by 991.1% in the 2nd quarter. Principal Financial Group Inc. now owns 291,530 shares of the company’s stock worth $13,378,000 after purchasing an additional 264,811 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of StepStone Group by 25.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,115,384 shares of the company’s stock worth $51,185,000 after purchasing an additional 225,201 shares during the last quarter. Institutional investors and hedge funds own 55.54% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on STEP. The Goldman Sachs Group lifted their price objective on StepStone Group from $46.00 to $51.50 and gave the stock a “neutral” rating in a research report on Monday, August 12th. Evercore ISI raised their price objective on shares of StepStone Group from $41.00 to $48.00 and gave the stock an “outperform” rating in a research report on Monday, July 15th. UBS Group boosted their target price on shares of StepStone Group from $44.00 to $55.00 and gave the company a “neutral” rating in a report on Wednesday, August 21st. Barclays raised their price target on shares of StepStone Group from $46.00 to $51.00 and gave the stock an “equal weight” rating in a report on Monday, August 12th. Finally, Morgan Stanley upped their price objective on StepStone Group from $43.00 to $52.00 and gave the company an “equal weight” rating in a report on Monday, August 19th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, StepStone Group presently has an average rating of “Hold” and an average price target of $45.88.

StepStone Group Stock Down 2.1 %

STEP opened at $56.69 on Thursday. StepStone Group LP has a 52 week low of $25.06 and a 52 week high of $58.09. The business has a fifty day simple moving average of $51.78 and a 200-day simple moving average of $43.83. The firm has a market cap of $6.27 billion, a P/E ratio of 62.99 and a beta of 1.28.

StepStone Group (NASDAQ:STEP) last released its earnings results on Thursday, August 8th. The company reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.13. The firm had revenue of $186.40 million during the quarter, compared to analyst estimates of $181.15 million. The business’s revenue was up 4.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.26 earnings per share. Sell-side analysts expect that StepStone Group LP will post 1.83 earnings per share for the current year.

StepStone Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were given a $0.24 dividend. The ex-dividend date was Friday, August 30th. This represents a $0.96 dividend on an annualized basis and a yield of 1.69%. This is a positive change from StepStone Group’s previous quarterly dividend of $0.21. StepStone Group’s dividend payout ratio (DPR) is currently 106.67%.

StepStone Group Company Profile

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.