Harvest Fund Management Co. Ltd Acquires 2,731 Shares of StepStone Group LP (NASDAQ:STEP)

Harvest Fund Management Co. Ltd lifted its holdings in StepStone Group LP (NASDAQ:STEP) by 246.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,840 shares of the company’s stock after buying an additional 2,731 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in StepStone Group were worth $222,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in STEP. Steward Partners Investment Advisory LLC bought a new stake in StepStone Group during the 4th quarter worth about $27,000. Raleigh Capital Management Inc. bought a new stake in StepStone Group during the 4th quarter worth about $29,000. IFP Advisors Inc bought a new stake in StepStone Group during the 4th quarter worth about $36,000. Amundi raised 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 during the last quarter. Finally, GAMMA Investing LLC raised its holdings in StepStone Group by 36.6% during the 4th quarter. GAMMA Investing LLC now owns 844 shares of the company’s stock worth $49,000 after purchasing an additional 226 shares during the last quarter. 55.54% of the stock is owned by institutional investors.

Insider Activity at StepStone Group

In related news, CEO Scott W. Hart sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $61.43, for a total value of $614,300.00. Following the completion of the transaction, the chief executive officer now directly owns 110,000 shares in the company, valued at approximately $6,757,300. The trade was a 8.33 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Anthony Keathley sold 538 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $63.00, for a total value of $33,894.00. Following the completion of the transaction, 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 Trading Down 2.4 %

StepStone Group stock opened at $53.87 on Friday. The firm has a market capitalization of $6.25 billion, a P/E ratio of -31.88 and a beta of 1.33. StepStone Group LP has a 1 year low of $33.90 and a 1 year high of $70.38. The business has a 50-day moving average of $59.39 and a 200-day moving average of $59.96.

StepStone Group Dividend Announcement

The firm also recently disclosed 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 annualized dividend and a dividend yield of 1.78%. StepStone Group’s dividend payout ratio is presently -56.80%.

Wall Street Analyst Weigh In

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

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.