Harvest Fund Management Co. Ltd Invests $63,000 in StepStone Group LP (NASDAQ:STEP)

Harvest Fund Management Co. Ltd bought a new position in shares of StepStone Group LP (NASDAQ:STEP) during the 3rd quarter, Holdings Channel reports. The institutional investor bought 1,109 shares of the company’s stock, valued at approximately $63,000.

Other institutional investors have also recently added to or reduced their stakes in the company. American International Group Inc. raised its holdings in StepStone Group by 1.2% during the first quarter. American International Group Inc. now owns 27,152 shares of the company’s stock worth $970,000 after purchasing an additional 322 shares in the last quarter. GAMMA Investing LLC grew its position in shares of StepStone Group by 291.1% in the 3rd 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 last quarter. KBC Group NV raised its stake in StepStone Group by 35.7% during the 3rd quarter. KBC Group NV now owns 1,840 shares of the company’s stock worth $105,000 after acquiring an additional 484 shares in the last quarter. CWM LLC lifted its position 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 acquiring an additional 777 shares during the last quarter. Finally, US Bancorp DE boosted its stake in 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 in the last quarter. Hedge funds and other institutional investors own 55.54% of the company’s stock.

StepStone Group Stock Performance

Shares of StepStone Group stock opened at $66.04 on Thursday. The company has a market cap of $7.61 billion, a P/E ratio of 110.07 and a beta of 1.27. The firm has a fifty day moving average of $61.58 and a two-hundred day moving average of $52.20. StepStone Group LP has a one year low of $25.06 and a one year high of $70.38.

StepStone Group Announces Dividend

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 $0.24 dividend. 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 currently 160.00%.

Insider Buying and Selling at StepStone Group

In other StepStone Group news, CFO David Y. Park sold 3,000 shares of the stock in a transaction 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 in the company, valued at approximately $1,381,320.71. This represents a 12.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Anthony Keathley sold 729 shares of the business’s stock in a transaction 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 sale, the chief accounting officer now owns 2,158 shares in the company, valued at $148,578.30. The trade was a 25.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 18.44% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have commented on STEP. Morgan Stanley lifted their price target on StepStone Group from $60.00 to $65.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 14th. UBS Group lifted their target price 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. The Goldman Sachs Group upped their price target on shares of StepStone Group from $64.00 to $70.50 and gave the company a “neutral” rating in a research report on Tuesday, November 19th. Barclays raised their price objective on shares of StepStone Group from $51.00 to $61.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. Finally, Oppenheimer upped their target price on shares of StepStone Group from $56.00 to $73.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. 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, the company has a consensus rating of “Hold” and an average target price of $64.36.

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.