StepStone Group Inc. $STEP Shares Purchased by Quantinno Capital Management LP

Quantinno Capital Management LP increased its stake in shares of StepStone Group Inc. (NASDAQ:STEP) by 694.1% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 128,427 shares of the company’s stock after purchasing an additional 112,255 shares during the period. Quantinno Capital Management LP owned approximately 0.11% of StepStone Group worth $6,129,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Salomon & Ludwin LLC lifted its stake in StepStone Group by 105.0% during the fourth quarter. Salomon & Ludwin LLC now owns 414 shares of the company’s stock worth $28,000 after purchasing an additional 212 shares in the last quarter. Quarry LP grew its stake in shares of StepStone Group by 155.7% in the third quarter. Quarry LP now owns 514 shares of the company’s stock valued at $34,000 after buying an additional 313 shares in the last quarter. Fifth Third Bancorp grew its stake in shares of StepStone Group by 58.6% in the fourth quarter. Fifth Third Bancorp now owns 544 shares of the company’s stock valued at $35,000 after buying an additional 201 shares in the last quarter. Darwin Wealth Management LLC purchased a new stake in shares of StepStone Group in the 2nd quarter valued at $46,000. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of StepStone Group by 332.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,236 shares of the company’s stock valued at $69,000 after buying an additional 950 shares during the period. Institutional investors and hedge funds own 55.54% of the company’s stock.

Insider Activity at StepStone Group

In other StepStone Group news, COO Jose A. Fernandez sold 2,290 shares of the business’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $42.64, for a total transaction of $97,645.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Michael I. Mccabe acquired 120,000 shares of the company’s stock in a transaction dated Thursday, June 11th. The stock was acquired at an average price of $41.85 per share, for a total transaction of $5,022,000.00. Following the acquisition, the insider owned 433,178 shares in the company, valued at approximately $18,128,499.30. The trade was a 38.32% increase in their position. The SEC filing for this purchase provides additional information. 15.70% of the stock is owned by company insiders.

Analyst Ratings Changes

STEP has been the subject of a number of research analyst reports. Barclays lowered their target price on StepStone Group from $62.00 to $60.00 and set an “overweight” rating for the company in a report on Thursday, July 9th. Oppenheimer reduced their price target on shares of StepStone Group from $90.00 to $85.00 and set an “outperform” rating on the stock in a research report on Thursday, May 21st. Evercore reissued an “outperform” rating and issued a $60.00 price objective on shares of StepStone Group in a research note on Thursday, May 21st. Weiss Ratings restated a “sell (d-)” rating on shares of StepStone Group in a report on Monday, July 20th. Finally, Morgan Stanley cut their target price on shares of StepStone Group from $72.00 to $63.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 21st. Seven analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $69.00.

StepStone Group Price Performance

STEP opened at $49.82 on Thursday. The business has a fifty day moving average price of $43.97 and a 200 day moving average price of $50.58. StepStone Group Inc. has a 12 month low of $38.85 and a 12 month high of $77.79. The stock has a market capitalization of $5.95 billion, a price-to-earnings ratio of -7.33 and a beta of 1.27.

StepStone Group (NASDAQ:STEP) last posted its quarterly earnings results on Wednesday, May 20th. The company reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.06. The company had revenue of $305.84 million for the quarter, compared to analyst estimates of $292.11 million. StepStone Group had a positive return on equity of 37.69% and a negative net margin of 26.88%.StepStone Group’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.68 EPS. On average, research analysts anticipate that StepStone Group Inc. will post 2.54 earnings per share for the current year.

StepStone Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were issued a $0.28 dividend. The ex-dividend date of this dividend was Monday, June 15th. This represents a $1.12 annualized dividend and a yield of 2.2%. StepStone Group’s dividend payout ratio (DPR) is -16.47%.

StepStone Group Company Profile

StepStone Group is a global private markets investment firm that provides specialized investment solutions across private equity, private credit and real assets. The firm offers customized portfolios, secondary interests, direct co-investments and tailored advisory services to institutional investors worldwide. StepStone’s integrated research and data analytics platform supports its investment teams in sourcing opportunities and monitoring portfolio companies.

Founded in 2007 as an independent private markets specialist, the company has grown its presence through both organic expansion and strategic partnerships.