Zurcher Kantonalbank Zurich Cantonalbank Has $1.15 Million Stock Holdings in StepStone Group LP (NASDAQ:STEP)

Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of StepStone Group LP (NASDAQ:STEP) by 27.8% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 19,821 shares of the company’s stock after acquiring an additional 4,311 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in StepStone Group were worth $1,147,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Sumitomo Mitsui Trust Group Inc. bought a new stake in StepStone Group in the third quarter valued at about $462,000. KBC Group NV grew its position in shares of StepStone Group by 35.7% during the 3rd quarter. KBC Group NV now owns 1,840 shares of the company’s stock worth $105,000 after buying an additional 484 shares during the period. CIBC Asset Management Inc bought a new stake in shares of StepStone Group in the 3rd quarter valued at about $269,000. Mutual of America Capital Management LLC raised its position in shares of StepStone Group by 10.2% in the 3rd quarter. Mutual of America Capital Management LLC now owns 9,421 shares of the company’s stock valued at $535,000 after acquiring an additional 871 shares during the period. Finally, Thrivent Financial for Lutherans boosted its stake in StepStone Group by 0.9% during the 3rd quarter. Thrivent Financial for Lutherans now owns 127,742 shares of the company’s stock worth $7,260,000 after acquiring an additional 1,125 shares during the last quarter. Institutional investors and hedge funds own 55.54% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on STEP shares. Barclays increased their target price on shares of StepStone Group from $66.00 to $69.00 and gave the stock an “equal weight” rating in a report on Friday, February 7th. Oppenheimer upped their price objective on shares of StepStone Group from $81.00 to $85.00 and gave the company an “outperform” rating in a research report 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 report on Monday, February 10th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, StepStone Group currently has a consensus rating of “Hold” and a consensus price target of $69.21.

StepStone Group Stock Performance

NASDAQ:STEP opened at $55.85 on Thursday. The stock has a 50-day simple moving average of $59.58 and a 200 day simple moving average of $59.96. StepStone Group LP has a 52-week low of $33.66 and a 52-week high of $70.38. The company has a market cap of $6.48 billion, a PE ratio of -33.05 and a beta of 1.33.

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 $0.24 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.72%. StepStone Group’s dividend payout ratio (DPR) is presently -56.80%.

Insider Activity

In other StepStone Group news, CEO Scott W. Hart sold 10,000 shares of the business’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $61.43, for a total transaction of $614,300.00. Following the sale, the chief executive officer now directly owns 110,000 shares of the company’s stock, valued at $6,757,300. The trade was a 8.33 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CAO Anthony Keathley sold 538 shares of the firm’s stock in a transaction dated 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. The trade was a 27.96 % decrease in their position. The disclosure for this sale can be found here. 18.44% of the stock is owned by corporate 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.