Analysts Set StepStone Group LP (NASDAQ:STEP) PT at $64.36

Shares of StepStone Group LP (NASDAQ:STEP) have received a consensus recommendation of “Hold” from the seven research firms that are presently covering the stock, MarketBeat reports. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $64.36.

A number of research firms recently commented on STEP. The Goldman Sachs Group increased their price objective on StepStone Group from $64.00 to $70.50 and gave the company a “neutral” rating in a research note on Tuesday, November 19th. Morgan Stanley boosted their price objective on StepStone Group from $60.00 to $65.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 14th. UBS Group boosted their price objective on StepStone Group from $55.00 to $65.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. Oppenheimer lifted their target price on StepStone Group from $56.00 to $73.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Finally, Barclays lifted their price target on StepStone Group from $51.00 to $61.00 and gave the company an “equal weight” rating in a report on Monday, October 7th.

Insiders Place Their Bets

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 transaction, 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Anthony Keathley sold 729 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $68.85, for a total value of $50,191.65. Following the completion of the transaction, the chief accounting officer now directly owns 2,158 shares of the company’s stock, 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. Insiders own 18.44% of the company’s stock.

Hedge Funds Weigh In On StepStone Group

Several large investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its holdings in shares of StepStone Group by 291.1% in the 3rd quarter. GAMMA Investing LLC now owns 618 shares of the company’s stock worth $35,000 after buying an additional 460 shares in the last quarter. Blue Trust Inc. raised its holdings in shares of StepStone Group by 1,586.3% in the 3rd 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 raised its holdings in shares of StepStone Group by 442.7% in the 3rd quarter. US Bancorp DE now owns 966 shares of the company’s stock worth $55,000 after buying an additional 788 shares in the last quarter. Harvest Fund Management Co. Ltd acquired a new position in shares of StepStone Group in the 3rd quarter worth approximately $63,000. Finally, CWM LLC raised its holdings in shares of StepStone Group by 190.4% in the 3rd quarter. CWM LLC now owns 1,185 shares of the company’s stock worth $67,000 after buying an additional 777 shares in the last quarter. Institutional investors and hedge funds own 55.54% of the company’s stock.

StepStone Group Price Performance

Shares of STEP stock opened at $66.04 on Monday. The business’s fifty day moving average price is $61.58 and its 200 day moving average price is $52.20. StepStone Group has a 1-year low of $25.06 and a 1-year high of $70.38. The firm has a market capitalization of $7.61 billion, a PE ratio of 110.07 and a beta of 1.27.

StepStone Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend 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 160.00%.

About StepStone Group

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.