Summit Investment Advisors Inc. Boosts Holdings in StepStone Group LP (NASDAQ:STEP)

Summit Investment Advisors Inc. raised its position in StepStone Group LP (NASDAQ:STEP) by 9.0% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 6,866 shares of the company’s stock after acquiring 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 reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Amundi increased its position 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 period. Mutual of America Capital Management LLC lifted its holdings in StepStone Group by 1.7% in the fourth quarter. Mutual of America Capital Management LLC now owns 9,578 shares of the company’s stock valued at $554,000 after acquiring an additional 157 shares during the period. Blue Trust Inc. boosted its position in shares of StepStone Group by 25.5% during the 4th quarter. Blue Trust Inc. now owns 1,079 shares of the company’s stock worth $61,000 after purchasing an additional 219 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of 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 period. Finally, Louisiana State Employees Retirement System increased its holdings in shares of StepStone Group by 1.0% in the 4th quarter. Louisiana State Employees Retirement System now owns 30,600 shares of the company’s stock valued at $1,771,000 after purchasing an additional 300 shares in the last quarter. 55.54% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on STEP shares. Morgan Stanley dropped their target price on shares of StepStone Group from $66.00 to $51.00 and set an “equal weight” rating for the company in a report on Monday, April 14th. Evercore ISI lifted 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. Oppenheimer set a $67.00 target price on StepStone Group and gave the company an “outperform” rating in a report on Wednesday. Finally, Barclays cut 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. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $61.64.

Insiders Place Their Bets

In related news, CAO Anthony Keathley sold 538 shares of the company’s 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 directly owns 1,386 shares in the company, valued at approximately $87,318. This represents a 27.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Scott W. Hart sold 10,000 shares of the firm’s stock in a transaction dated 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 sale, 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 ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 18.44% of the company’s stock.

StepStone Group Trading Up 0.6 %

NASDAQ:STEP opened at $47.06 on Friday. The firm has a market cap of $5.46 billion, a price-to-earnings ratio of -27.85 and a beta of 1.36. StepStone Group LP has a 12-month low of $34.91 and a 12-month high of $70.38. The company’s 50-day moving average is $53.50 and its two-hundred day moving average is $59.05.

StepStone Group Announces Dividend

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. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.96 annualized dividend and a yield of 2.04%. StepStone Group’s dividend payout ratio (DPR) is presently -56.80%.

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.