Jump Financial LLC Acquires Shares of 101,752 StepStone Group LP (NASDAQ:STEP)

Jump Financial LLC bought a new position in shares of StepStone Group LP (NASDAQ:STEP) during the fourth quarter, HoldingsChannel reports. The institutional investor bought 101,752 shares of the company’s stock, valued at approximately $5,889,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. XTX Topco Ltd purchased a new stake in StepStone Group during the 4th quarter worth $233,000. Barclays PLC grew its stake in shares of StepStone Group by 17.1% during the fourth quarter. Barclays PLC now owns 131,220 shares of the company’s stock valued at $7,596,000 after acquiring an additional 19,201 shares in the last quarter. Summit Investment Advisors Inc. increased its position in shares of StepStone Group by 9.0% during the fourth quarter. Summit Investment Advisors Inc. now owns 6,866 shares of the company’s stock worth $397,000 after acquiring an additional 569 shares during the last quarter. CenterBook Partners LP acquired a new position in shares of StepStone Group in the fourth quarter worth about $1,179,000. Finally, Raymond James Financial Inc. purchased a new position in StepStone Group in the fourth quarter valued at about $46,163,000. 55.54% of the stock is currently owned by hedge funds and other institutional investors.

StepStone Group Stock Performance

Shares of NASDAQ STEP opened at $47.81 on Wednesday. StepStone Group LP has a 1 year low of $34.64 and a 1 year high of $70.38. The firm has a market cap of $5.54 billion, a P/E ratio of -28.29 and a beta of 1.36. The stock has a fifty day moving average price of $54.40 and a two-hundred day moving average price of $59.28.

StepStone Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date was Friday, February 28th. StepStone Group’s payout ratio is -56.80%.

Insider Activity

In other StepStone Group news, CEO Scott W. Hart sold 10,000 shares of the company’s stock in a transaction 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 transaction, the chief executive officer now owns 110,000 shares of the company’s stock, valued at approximately $6,757,300. This represents a 8.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Anthony Keathley sold 538 shares of StepStone Group stock in a transaction on Wednesday, February 19th. The stock was 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 in the company, valued at $87,318. The trade was a 27.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 18.44% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on STEP shares. Morgan Stanley reduced their price objective on shares of StepStone Group from $66.00 to $51.00 and set an “equal weight” rating on the stock in a research note on Monday. Barclays decreased their price target on StepStone Group from $69.00 to $48.00 and set an “equal weight” rating for the company in a research note on Monday, April 7th. Oppenheimer upped their price objective on StepStone Group from $81.00 to $85.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Finally, Evercore ISI lifted their target price on StepStone Group from $63.00 to $69.00 and gave the stock an “outperform” rating in a research report on Monday, February 10th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, StepStone Group has a consensus rating of “Hold” and a consensus price target of $64.21.

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.