Covestor Ltd Purchases 2,010 Shares of StepStone Group LP (NASDAQ:STEP)

Covestor Ltd boosted its position in shares of StepStone Group LP (NASDAQ:STEP) by 50,250.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,014 shares of the company’s stock after buying an additional 2,010 shares during the period. Covestor Ltd’s holdings in StepStone Group were worth $114,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Bank of New York Mellon Corp raised its holdings in shares of StepStone Group by 25.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,115,384 shares of the company’s stock worth $51,185,000 after acquiring an additional 225,201 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in StepStone Group by 150.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 850,463 shares of the company’s stock worth $30,396,000 after purchasing an additional 510,283 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in StepStone Group by 8.1% during the second quarter. Dimensional Fund Advisors LP now owns 800,909 shares of the company’s stock valued at $36,753,000 after purchasing an additional 60,339 shares in the last quarter. William Blair Investment Management LLC lifted its position in StepStone Group by 1.0% during the first quarter. William Blair Investment Management LLC now owns 608,829 shares of the company’s stock valued at $21,760,000 after purchasing an additional 6,052 shares during the last quarter. Finally, Principal Financial Group Inc. grew its stake in shares of StepStone Group by 43.3% in the 3rd quarter. Principal Financial Group Inc. now owns 417,845 shares of the company’s stock worth $23,746,000 after buying an additional 126,315 shares in the last quarter. Hedge funds and other institutional investors own 55.54% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on STEP shares. UBS Group upped their target price on shares of StepStone Group from $55.00 to $65.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. The Goldman Sachs Group raised their price objective on StepStone Group from $51.50 to $57.00 and gave the company a “neutral” rating in a research note on Monday, September 30th. Barclays boosted their target price on StepStone Group from $51.00 to $61.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. Morgan Stanley raised their price target on StepStone Group from $52.00 to $60.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 10th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of StepStone Group from $56.00 to $61.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 1st. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $61.71.

StepStone Group Stock Down 1.9 %

Shares of StepStone Group stock opened at $68.03 on Wednesday. The stock’s fifty day moving average is $58.50 and its two-hundred day moving average is $49.87. StepStone Group LP has a 52 week low of $25.06 and a 52 week high of $70.38. The company has a market capitalization of $7.53 billion, a PE ratio of 115.53 and a beta of 1.27.

StepStone Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date of this dividend is Friday, November 29th. StepStone Group’s payout ratio is presently 160.00%.

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.