StepStone Group LP (NASDAQ:STEP) Shares Acquired by Summit Investment Advisors Inc.

Summit Investment Advisors Inc. raised its position in StepStone Group LP (NASDAQ:STEP) by 9.0% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 6,866 shares of the company’s stock after purchasing an additional 569 shares during the period. Summit Investment Advisors Inc.’s holdings in StepStone Group were worth $397,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in STEP. Steward Partners Investment Advisory LLC acquired a new stake in shares of StepStone Group in the fourth quarter valued at about $27,000. Raleigh Capital Management Inc. purchased a new position in StepStone Group in the 4th quarter worth approximately $29,000. IFP Advisors Inc acquired a new position in shares of StepStone Group during the 4th quarter worth approximately $36,000. Amundi grew its position in shares of StepStone Group by 26.7% in the fourth quarter. Amundi now owns 730 shares of the company’s stock valued at $42,000 after purchasing an additional 154 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings 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 purchasing an additional 226 shares during the last quarter. Hedge funds and other institutional investors own 55.54% of the company’s stock.

StepStone Group Stock Performance

StepStone Group stock opened at $47.06 on Friday. The company’s 50 day simple moving average is $53.50 and its 200-day simple moving average is $59.05. StepStone Group LP has a 1 year low of $34.91 and a 1 year high of $70.38. The company has a market capitalization of $5.46 billion, a price-to-earnings ratio of -27.85 and a beta of 1.36.

StepStone Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 2.04%. The ex-dividend date of this dividend was Friday, February 28th. StepStone Group’s dividend payout ratio (DPR) is -56.80%.

Insider Transactions at StepStone Group

In other StepStone Group news, CAO Anthony Keathley sold 538 shares of the firm’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 trade represents a 27.96 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, 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 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 position. The disclosure for this sale can be found here. Company insiders own 18.44% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Evercore ISI boosted their price objective on StepStone Group from $63.00 to $69.00 and gave the stock an “outperform” rating in a research note on Monday, February 10th. Barclays lowered their price target on shares of StepStone Group from $69.00 to $48.00 and set an “equal weight” rating on the stock in a research report on Monday, April 7th. Oppenheimer set a $67.00 price objective on shares of StepStone Group and gave the stock an “outperform” rating in a research report on Wednesday. Finally, Morgan Stanley decreased their target price on shares of StepStone Group from $66.00 to $51.00 and set an “equal weight” rating on the stock in a report on Monday, April 14th. Four research 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, the stock presently has an average rating of “Hold” and an average price target of $61.64.

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.