Geode Capital Management LLC Grows Holdings in StepStone Group LP (NASDAQ:STEP)

Geode Capital Management LLC grew its position in shares of StepStone Group LP (NASDAQ:STEP) by 3.5% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,508,666 shares of the company’s stock after buying an additional 50,976 shares during the quarter. Geode Capital Management LLC owned 1.31% of StepStone Group worth $87,341,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Steward Partners Investment Advisory LLC bought a new stake in StepStone Group during the fourth quarter worth $27,000. Raleigh Capital Management Inc. purchased a new stake in StepStone Group during the fourth quarter valued at about $29,000. IFP Advisors Inc bought a new position in StepStone Group during the fourth quarter worth about $36,000. Amundi boosted its position in StepStone Group by 26.7% during the fourth quarter. Amundi now owns 730 shares of the company’s stock worth $42,000 after purchasing an additional 154 shares during the period. Finally, GAMMA Investing LLC increased its stake in shares of StepStone Group by 36.6% in the fourth quarter. GAMMA Investing LLC now owns 844 shares of the company’s stock worth $49,000 after purchasing an additional 226 shares in the last quarter. Hedge funds and other institutional investors own 55.54% of the company’s stock.

StepStone Group Stock Down 6.3 %

StepStone Group stock opened at $45.67 on Friday. The stock has a market cap of $5.30 billion, a price-to-earnings ratio of -27.02 and a beta of 1.36. The business has a 50-day simple moving average of $55.41 and a 200 day simple moving average of $59.48. StepStone Group LP has a 52 week low of $34.64 and a 52 week high of $70.38.

StepStone Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 2.10%. The ex-dividend date of this dividend was Friday, February 28th. StepStone Group’s payout ratio is -56.80%.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Oppenheimer raised their price objective on shares of StepStone Group from $81.00 to $85.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Evercore ISI raised their price target on StepStone Group from $63.00 to $69.00 and gave the stock an “outperform” rating in a report on Monday, February 10th. Finally, Barclays decreased their price objective on StepStone Group from $69.00 to $48.00 and set an “equal weight” rating on the stock in a research note on Monday. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $66.21.

Insider Buying and Selling

In related news, CAO Anthony Keathley sold 538 shares of the company’s stock in a transaction 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 directly owns 1,386 shares in the company, valued at approximately $87,318. The trade was a 27.96 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 shares were sold at an average price of $61.43, for a total value of $614,300.00. Following the sale, the chief executive officer now owns 110,000 shares in the company, valued at $6,757,300. The trade was a 8.33 % decrease in their position. The disclosure for this sale can be found here. 18.44% of the stock is owned by company insiders.

About StepStone Group

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.