Intech Investment Management LLC Makes New Investment in StepStone Group LP (NASDAQ:STEP)

Intech Investment Management LLC bought a new position in StepStone Group LP (NASDAQ:STEP) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 14,964 shares of the company’s stock, valued at approximately $850,000.

Several other large investors have also recently modified their holdings of STEP. GAMMA Investing LLC lifted its stake in shares of StepStone Group by 291.1% during the third quarter. GAMMA Investing LLC now owns 618 shares of the company’s stock worth $35,000 after buying an additional 460 shares during the period. Blue Trust Inc. grew its stake 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 worth $49,000 after purchasing an additional 809 shares during the period. US Bancorp DE grew its position in shares of StepStone Group by 442.7% during 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 period. CWM LLC grew its holdings in StepStone Group by 190.4% in the third quarter. CWM LLC now owns 1,185 shares of the company’s stock valued at $67,000 after purchasing an additional 777 shares during the period. Finally, KBC Group NV increased its stake in shares of StepStone Group by 35.7% during the third quarter. KBC Group NV now owns 1,840 shares of the company’s stock worth $105,000 after purchasing an additional 484 shares in the last quarter. Institutional investors own 55.54% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on STEP. Oppenheimer raised their price objective on shares of StepStone Group from $56.00 to $73.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Morgan Stanley upped their price target on StepStone Group from $60.00 to $65.00 and gave the stock an “equal weight” rating in a report on Thursday, November 14th. Barclays raised their price objective on shares of StepStone Group from $51.00 to $61.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. Evercore ISI upped their target price on StepStone Group from $52.00 to $55.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Finally, UBS Group raised their price objective on shares of StepStone Group from $55.00 to $65.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $64.36.

StepStone Group Trading Down 1.0 %

StepStone Group stock opened at $66.04 on Friday. The stock has a market cap of $7.61 billion, a P/E ratio of 110.07 and a beta of 1.27. StepStone Group LP has a 52 week low of $25.06 and a 52 week high of $70.38. The stock has a 50 day moving average of $61.58 and a 200-day moving average of $52.20.

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 is Friday, November 29th. This represents a $0.96 dividend on an annualized basis and a yield of 1.45%. StepStone Group’s payout ratio is currently 160.00%.

Insider Buying and Selling

In other StepStone Group news, CFO David Y. Park sold 3,000 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the chief financial officer now directly owns 20,251 shares in the company, valued at $1,381,320.71. This represents a 12.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Anthony Keathley sold 729 shares of StepStone Group stock in a transaction that occurred 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 transaction, the chief accounting officer now owns 2,158 shares in the company, valued at approximately $148,578.30. This trade represents a 25.25 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 18.44% of the company’s stock.

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.