Summit Global Investments Buys Shares of 9,444 StepStone Group LP (NASDAQ:STEP)

Summit Global Investments purchased a new position in StepStone Group LP (NASDAQ:STEP) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 9,444 shares of the company’s stock, valued at approximately $547,000.

A number of other large investors have also recently made changes to their positions in the stock. Amundi lifted its holdings in StepStone Group by 26.7% during the 4th quarter. Amundi now owns 730 shares of the company’s stock worth $42,000 after purchasing an additional 154 shares in the last quarter. Mutual of America Capital Management LLC increased its position in shares of StepStone Group by 1.7% during the fourth quarter. Mutual of America Capital Management LLC now owns 9,578 shares of the company’s stock valued at $554,000 after buying an additional 157 shares during the period. Blue Trust Inc. lifted its holdings in shares of StepStone Group by 25.5% in the fourth quarter. Blue Trust Inc. now owns 1,079 shares of the company’s stock worth $61,000 after buying an additional 219 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of StepStone Group by 36.6% in the fourth quarter. GAMMA Investing LLC now owns 844 shares of the company’s stock valued at $49,000 after acquiring an additional 226 shares during the period. Finally, Louisiana State Employees Retirement System grew its stake in StepStone Group by 1.0% during the fourth quarter. Louisiana State Employees Retirement System now owns 30,600 shares of the company’s stock valued at $1,771,000 after acquiring an additional 300 shares in the last quarter. 55.54% of the stock is owned by institutional investors.

Analyst Ratings Changes

STEP has been the subject of several analyst reports. Oppenheimer raised their price target on shares of StepStone Group from $81.00 to $85.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Evercore ISI lifted their price objective on StepStone Group from $63.00 to $69.00 and gave the company an “outperform” rating in a research note on Monday, February 10th. Finally, Barclays upped their target price on StepStone Group from $66.00 to $69.00 and gave the stock an “equal weight” rating in a research note on Friday, February 7th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, StepStone Group has an average rating of “Hold” and an average price target of $69.21.

StepStone Group Stock Up 5.0 %

NASDAQ STEP opened at $56.54 on Tuesday. The stock’s 50-day simple moving average is $59.37 and its two-hundred day simple moving average is $60.02. StepStone Group LP has a twelve month low of $33.90 and a twelve month high of $70.38. The company has a market capitalization of $6.56 billion, a price-to-earnings ratio of -33.46 and a beta of 1.33.

StepStone Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were given a $0.24 dividend. The ex-dividend date was Friday, February 28th. This represents a $0.96 dividend on an annualized basis and a yield of 1.70%. StepStone Group’s payout ratio is -56.80%.

Insiders Place Their Bets

In other StepStone Group news, CEO Scott W. Hart sold 10,000 shares of the company’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $61.43, for a total transaction of $614,300.00. Following the completion of the sale, the chief executive officer now directly owns 110,000 shares in the company, valued at $6,757,300. This represents a 8.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Anthony Keathley sold 538 shares of the stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $63.00, for a total value of $33,894.00. Following the sale, the chief accounting officer now owns 1,386 shares of the company’s stock, valued at $87,318. This represents a 27.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 18.44% of the stock is owned by insiders.

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.