Rhumbline Advisers Purchases 5,377 Shares of StepStone Group LP (NASDAQ:STEP)

Rhumbline Advisers increased its holdings in StepStone Group LP (NASDAQ:STEP) by 3.2% during the 4th quarter, HoldingsChannel reports. The firm owned 171,194 shares of the company’s stock after buying an additional 5,377 shares during the period. Rhumbline Advisers’ holdings in StepStone Group were worth $9,909,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Raleigh Capital Management Inc. purchased a new position in shares of StepStone Group in the 4th quarter worth $29,000. Blue Trust Inc. raised 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 valued at $49,000 after buying an additional 809 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of StepStone Group by 36.6% in the 4th quarter. GAMMA Investing LLC now owns 844 shares of the company’s stock valued at $49,000 after acquiring an additional 226 shares during the last quarter. US Bancorp DE lifted its holdings in shares of StepStone Group by 442.7% in the 3rd quarter. US Bancorp DE now owns 966 shares of the company’s stock valued at $55,000 after acquiring an additional 788 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd purchased a new position in StepStone Group in the third quarter worth about $63,000. Hedge funds and other institutional investors own 55.54% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on STEP. Barclays upped their price objective on StepStone Group from $66.00 to $69.00 and gave the company an “equal weight” rating in a research report on Friday, February 7th. Oppenheimer increased their price target on StepStone Group from $81.00 to $85.00 and gave the company an “outperform” rating in a report on Friday, February 7th. The Goldman Sachs Group lifted their price objective on shares of StepStone Group from $64.00 to $70.50 and gave the stock a “neutral” rating in a research note on Tuesday, November 19th. Evercore ISI boosted their price objective on shares of StepStone Group from $63.00 to $69.00 and gave the company an “outperform” rating in a research report on Monday, February 10th. Finally, Morgan Stanley raised their target price on shares of StepStone Group from $60.00 to $65.00 and gave the stock an “equal weight” rating in a report on Thursday, November 14th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $69.21.

StepStone Group Stock Down 0.9 %

Shares of NASDAQ STEP opened at $58.06 on Tuesday. StepStone Group LP has a twelve month low of $32.58 and a twelve month high of $70.38. The business has a fifty day simple moving average of $61.11 and a two-hundred day simple moving average of $59.75. The firm has a market cap of $6.73 billion, a PE ratio of -34.36 and a beta of 1.31.

StepStone Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be issued a $0.24 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.65%. StepStone Group’s dividend payout ratio is presently -56.80%.

Insider Transactions at StepStone Group

In other StepStone Group news, insider Michael I. Mccabe sold 4,000 shares of the firm’s stock in a transaction on 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 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Scott W. Hart sold 10,000 shares of the firm’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $61.43, for a total value of $614,300.00. Following the completion of the transaction, the chief executive officer now owns 110,000 shares of the company’s stock, valued at $6,757,300. This trade represents a 8.33 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 36,629 shares of company stock valued at $2,302,229. Corporate insiders own 18.44% of the company’s stock.

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.