Cibc World Markets Corp Makes New $355,000 Investment in StepStone Group LP (NASDAQ:STEP)

Cibc World Markets Corp acquired a new stake in shares of StepStone Group LP (NASDAQ:STEP) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 6,142 shares of the company’s stock, valued at approximately $355,000.

Several other hedge funds also recently made changes to their positions in the business. Mutual of America Capital Management LLC grew its holdings in shares of StepStone Group by 10.2% in the 3rd quarter. Mutual of America Capital Management LLC now owns 9,421 shares of the company’s stock worth $535,000 after acquiring an additional 871 shares during the last quarter. Swiss National Bank increased its stake in StepStone Group by 5.0% in the 3rd quarter. Swiss National Bank now owns 112,800 shares of the company’s stock worth $6,410,000 after purchasing an additional 5,400 shares in the last quarter. Intech Investment Management LLC acquired a new stake in StepStone Group during the 3rd quarter worth about $850,000. Charles Schwab Investment Management Inc. lifted its stake in StepStone Group by 16.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 596,851 shares of the company’s stock valued at $33,919,000 after buying an additional 84,762 shares in the last quarter. Finally, Citigroup Inc. boosted its holdings in shares of StepStone Group by 129.7% in the third quarter. Citigroup Inc. now owns 81,414 shares of the company’s stock worth $4,627,000 after buying an additional 45,974 shares during the period. Institutional investors and hedge funds own 55.54% of the company’s stock.

StepStone Group Trading Up 5.0 %

Shares of NASDAQ:STEP opened at $56.54 on Tuesday. The firm has a market cap of $6.56 billion, a price-to-earnings ratio of -33.46 and a beta of 1.33. StepStone Group LP has a 1 year low of $33.90 and a 1 year high of $70.38. The business has a fifty day simple moving average of $59.37 and a 200 day simple moving average of $60.02.

StepStone Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were issued a dividend of $0.24 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.96 annualized dividend and a dividend yield of 1.70%. StepStone Group’s dividend payout ratio is -56.80%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on STEP shares. Evercore ISI upped their price target 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. Barclays raised their target price on StepStone Group from $66.00 to $69.00 and gave the stock an “equal weight” rating in a research report on Friday, February 7th. Finally, Oppenheimer upped their price target on StepStone Group from $81.00 to $85.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $69.21.

Insider Activity at StepStone Group

In related news, CEO Scott W. Hart sold 10,000 shares of StepStone Group stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $61.43, for a total value of $614,300.00. Following the completion of the sale, the chief executive officer now owns 110,000 shares of the company’s stock, valued at approximately $6,757,300. The trade was a 8.33 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Anthony Keathley sold 538 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $63.00, for a total transaction of $33,894.00. Following the transaction, the chief accounting officer now directly owns 1,386 shares in the company, valued at $87,318. The trade was a 27.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 18.44% of the stock is currently owned by company insiders.

StepStone Group Company 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.