Jump Financial LLC Invests $1.21 Million in StepStone Group Inc. (NASDAQ:STEP)

Jump Financial LLC bought a new position in shares of StepStone Group Inc. (NASDAQ:STEP) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 35,200 shares of the company’s stock, valued at approximately $1,211,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. LPL Financial LLC bought a new position in shares of StepStone Group during the second quarter worth approximately $222,000. Geode Capital Management LLC increased its stake in StepStone Group by 45.4% during the 2nd quarter. Geode Capital Management LLC now owns 549,972 shares of the company’s stock worth $18,919,000 after acquiring an additional 171,609 shares during the period. Vanguard Group Inc. increased its stake in StepStone Group by 10.2% during the 2nd quarter. Vanguard Group Inc. now owns 3,384,686 shares of the company’s stock worth $116,433,000 after acquiring an additional 313,519 shares during the period. ProShare Advisors LLC bought a new position in StepStone Group during the 2nd quarter worth $333,000. Finally, Wasatch Advisors Inc. increased its stake in StepStone Group by 12.4% during the 2nd quarter. Wasatch Advisors Inc. now owns 4,230,342 shares of the company’s stock worth $145,524,000 after acquiring an additional 465,517 shares during the period. Institutional investors own 42.01% of the company’s stock.

In other StepStone Group news, CFO Johnny D. Randel sold 16,002 shares of StepStone Group stock in a transaction dated Wednesday, October 6th. The stock was sold at an average price of $40.96, for a total transaction of $655,441.92. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Johnny D. Randel sold 2,305 shares of StepStone Group stock in a transaction dated Friday, October 8th. The stock was sold at an average price of $40.50, for a total value of $93,352.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 58,067 shares of company stock worth $2,451,056. 35.34% of the stock is currently owned by company insiders.

Shares of STEP stock opened at $41.51 on Thursday. The stock’s fifty day moving average price is $45.22 and its two-hundred day moving average price is $38.83. The company has a market cap of $3.94 billion and a PE ratio of 13.30. StepStone Group Inc. has a fifty-two week low of $24.48 and a fifty-two week high of $49.72.

StepStone Group (NASDAQ:STEP) last issued its earnings results on Tuesday, August 10th. The company reported $0.41 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.22 by $0.19. StepStone Group had a return on equity of 18.57% and a net margin of 9.01%. The firm had revenue of $136.20 million for the quarter, compared to the consensus estimate of $94.84 million. During the same quarter last year, the business posted $0.16 EPS. The company’s revenue was up 83.3% compared to the same quarter last year. Analysts expect that StepStone Group Inc. will post 1.24 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 15th. Investors of record on Tuesday, August 31st were issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 0.67%. The ex-dividend date of this dividend was Monday, August 30th. StepStone Group’s dividend payout ratio (DPR) is 32.18%.

A number of research firms have commented on STEP. Zacks Investment Research lowered StepStone Group from a “strong-buy” rating to a “hold” rating in a research note on Wednesday. Morgan Stanley raised their price objective on StepStone Group from $52.00 to $56.00 and gave the stock an “overweight” rating in a research note on Thursday, August 12th.

About StepStone Group

StepStone Group Inc is an investment firm specializing in direct, fund of funds, secondary direct, and secondary indirect investments. For direct investment, it seeks to invest in venture debt, incubation, mezzanine, distressed/vulture, seed/startup, early venture, mid venture, late venture, emerging growth, later stage, turnaround, growth capital, industry consolidation, recapitalization, and buyout investments in mature and middle market companies.

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Institutional Ownership by Quarter for StepStone Group (NASDAQ:STEP)

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