State of Alaska Department of Revenue Acquires 2,599 Shares of StepStone Group LP (NASDAQ:STEP)

State of Alaska Department of Revenue raised its holdings in shares of StepStone Group LP (NASDAQ:STEP) by 7.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 35,937 shares of the company’s stock after acquiring an additional 2,599 shares during the quarter. State of Alaska Department of Revenue’s holdings in StepStone Group were worth $2,080,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the stock. Raleigh Capital Management Inc. purchased a new stake in StepStone Group during the 4th quarter worth about $29,000. GAMMA Investing LLC increased its position in shares of StepStone Group by 291.1% during the third quarter. GAMMA Investing LLC now owns 618 shares of the company’s stock valued at $35,000 after buying an additional 460 shares during the period. Blue Trust Inc. lifted its holdings in shares of StepStone Group by 1,586.3% in the third quarter. Blue Trust Inc. now owns 860 shares of the company’s stock worth $49,000 after buying an additional 809 shares in the last quarter. US Bancorp DE boosted its position in shares of StepStone Group by 442.7% in the third 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 period. Finally, Harvest Fund Management Co. Ltd purchased a new position in StepStone Group during the third quarter valued at approximately $63,000. Hedge funds and other institutional investors own 55.54% of the company’s stock.

StepStone Group Trading Down 3.0 %

Shares of StepStone Group stock opened at $59.94 on Wednesday. The firm has a market capitalization of $6.90 billion, a PE ratio of -35.47 and a beta of 1.31. StepStone Group LP has a 12 month low of $32.58 and a 12 month high of $70.38. The business’s 50-day moving average price is $61.27 and its 200-day moving average price is $58.82.

StepStone Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date of this dividend is Friday, February 28th. StepStone Group’s payout ratio is currently -56.80%.

Insider Transactions at StepStone Group

In other news, CEO Scott W. Hart sold 22,091 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $63.24, for a total transaction of $1,397,034.84. Following the transaction, the chief executive officer now directly owns 157,909 shares of the company’s stock, valued at approximately $9,986,165.16. This trade represents a 12.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Michael I. Mccabe sold 4,000 shares of StepStone Group stock in a transaction dated Tuesday, December 3rd. The stock was 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 in the company, valued at approximately $44,108,653. This represents a 0.58 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 18.44% of the company’s stock.

Analyst Ratings Changes

STEP has been the topic of several recent analyst reports. Morgan Stanley increased their target price on shares of StepStone Group from $60.00 to $65.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 14th. Barclays increased their price objective 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. Evercore ISI boosted their target price on StepStone Group from $63.00 to $69.00 and gave the stock an “outperform” rating in a research report on Monday. UBS Group raised their price target on StepStone Group from $55.00 to $65.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Finally, Oppenheimer lifted 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 research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $69.21.

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.