State of New Jersey Common Pension Fund D Has $2.07 Million Holdings in StepStone Group LP (NASDAQ:STEP)

State of New Jersey Common Pension Fund D lowered its holdings in StepStone Group LP (NASDAQ:STEP) by 15.6% in the third quarter, HoldingsChannel.com reports. The firm owned 36,343 shares of the company’s stock after selling 6,719 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in StepStone Group were worth $2,065,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently made changes to their positions in STEP. GAMMA Investing LLC increased its position in shares of StepStone Group by 291.1% in the third quarter. GAMMA Investing LLC now owns 618 shares of the company’s stock worth $35,000 after purchasing an additional 460 shares during the period. Blue Trust Inc. increased its stake in StepStone Group by 1,586.3% in the third quarter. Blue Trust Inc. now owns 860 shares of the company’s stock valued at $49,000 after acquiring an additional 809 shares during the last quarter. US Bancorp DE lifted its stake in StepStone Group by 442.7% during the third quarter. US Bancorp DE now owns 966 shares of the company’s stock worth $55,000 after purchasing an additional 788 shares during the last quarter. CWM LLC lifted its stake in StepStone Group by 190.4% during the third quarter. CWM LLC now owns 1,185 shares of the company’s stock worth $67,000 after purchasing an additional 777 shares during the last quarter. Finally, Covestor Ltd boosted its holdings in shares of StepStone Group by 50,250.0% in the 3rd quarter. Covestor Ltd now owns 2,014 shares of the company’s stock valued at $114,000 after purchasing an additional 2,010 shares in the last quarter. Institutional investors and hedge funds own 55.54% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on STEP. Evercore ISI raised their price objective on StepStone Group from $52.00 to $55.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Oppenheimer boosted their price objective on StepStone Group from $56.00 to $73.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. The Goldman Sachs Group upped their target price on StepStone Group from $51.50 to $57.00 and gave the stock a “neutral” rating in a report on Monday, September 30th. JPMorgan Chase & Co. lifted their price target on StepStone Group from $56.00 to $61.00 and gave the company an “overweight” rating in a research note on Tuesday, October 1st. Finally, UBS Group raised their price objective on shares of StepStone Group from $55.00 to $65.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, StepStone Group currently has an average rating of “Hold” and a consensus price target of $62.43.

StepStone Group Price Performance

Shares of STEP stock opened at $65.00 on Friday. StepStone Group LP has a one year low of $25.06 and a one year high of $70.38. The business’s 50 day simple moving average is $59.47 and its 200 day simple moving average is $50.49. The stock has a market capitalization of $7.19 billion, a PE ratio of 108.33 and a beta of 1.27.

StepStone Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 1.48%. The ex-dividend date of this dividend is Friday, November 29th. StepStone Group’s dividend payout ratio (DPR) is presently 160.00%.

Insider Activity at StepStone Group

In other StepStone Group news, CAO Anthony Keathley sold 729 shares of the 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 transaction, the chief accounting officer now directly owns 2,158 shares in the company, valued at approximately $148,578.30. This represents a 25.25 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO David Y. Park sold 3,000 shares of StepStone Group stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $68.21, for a total transaction of $204,630.00. Following the completion of the sale, the chief financial officer now owns 20,251 shares of the company’s stock, valued at $1,381,320.71. This represents a 12.90 % decrease in their position. The disclosure for this sale can be found here. 18.44% of the stock is owned by company insiders.

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.