StepStone Group LP (NASDAQ:STEP) Shares Purchased by Swiss National Bank

Swiss National Bank grew its holdings in shares of StepStone Group LP (NASDAQ:STEP) by 5.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 112,800 shares of the company’s stock after buying an additional 5,400 shares during the quarter. Swiss National Bank’s holdings in StepStone Group were worth $6,410,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Bank of New York Mellon Corp grew its holdings in 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 acquiring an additional 225,201 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in StepStone Group by 150.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 850,463 shares of the company’s stock worth $30,396,000 after purchasing an additional 510,283 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in StepStone Group by 8.1% in the second quarter. Dimensional Fund Advisors LP now owns 800,909 shares of the company’s stock valued at $36,753,000 after buying an additional 60,339 shares during the last quarter. Principal Financial Group Inc. raised its stake in StepStone Group by 43.3% during the third quarter. Principal Financial Group Inc. now owns 417,845 shares of the company’s stock valued at $23,746,000 after buying an additional 126,315 shares in the last quarter. Finally, Rhumbline Advisers lifted its holdings in StepStone Group by 101.5% during the 2nd quarter. Rhumbline Advisers now owns 150,528 shares of the company’s stock worth $6,908,000 after buying an additional 75,824 shares during the last quarter. Institutional investors and hedge funds own 55.54% of the company’s stock.

StepStone Group Stock Up 0.1 %

STEP stock opened at $66.73 on Wednesday. The company has a market capitalization of $7.68 billion, a P/E ratio of 111.22 and a beta of 1.27. The company has a 50-day simple moving average of $61.37 and a 200 day simple moving average of $52.10. StepStone Group LP has a fifty-two week low of $25.06 and a fifty-two week high of $70.38.

StepStone Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.44%. StepStone Group’s dividend payout ratio is presently 160.00%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on STEP. The Goldman Sachs Group boosted their price target on StepStone Group from $64.00 to $70.50 and gave the company a “neutral” rating in a report on Tuesday, November 19th. JPMorgan Chase & Co. upped their price objective on StepStone Group from $56.00 to $61.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 1st. UBS Group raised their target price on StepStone Group from $55.00 to $65.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. Barclays upped their price target on shares of StepStone Group from $51.00 to $61.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. Finally, Morgan Stanley boosted their target price on shares of StepStone Group from $60.00 to $65.00 and gave the company an “equal weight” rating in a research note on Thursday, November 14th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $64.36.

Insider Activity

In other news, CAO Anthony Keathley sold 729 shares of the firm’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $68.85, for a total transaction of $50,191.65. Following the completion of the sale, the chief accounting officer now directly owns 2,158 shares of the company’s stock, valued at $148,578.30. This trade represents a 25.25 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO David Y. Park sold 3,000 shares of the business’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $68.21, for a total value of $204,630.00. Following the sale, the chief financial officer now directly owns 20,251 shares in the company, valued at $1,381,320.71. This trade represents a 12.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 18.44% of the stock is owned by insiders.

StepStone Group Profile

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.