Sei Investments Co. Boosts Holdings in StepStone Group LP (NASDAQ:STEP)

Sei Investments Co. lifted its stake in shares of StepStone Group LP (NASDAQ:STEP) by 9.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 84,687 shares of the company’s stock after purchasing an additional 7,524 shares during the period. Sei Investments Co. owned about 0.07% of StepStone Group worth $4,902,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. FMR LLC raised its holdings in shares of StepStone Group by 3.7% during the third quarter. FMR LLC now owns 3,999,819 shares of the company’s stock valued at $227,310,000 after acquiring an additional 141,637 shares during the last quarter. State Street Corp raised its stake in StepStone Group by 12.4% in the 3rd quarter. State Street Corp now owns 2,401,034 shares of the company’s stock valued at $136,451,000 after purchasing an additional 265,240 shares during the last quarter. Geode Capital Management LLC lifted its holdings in StepStone Group by 17.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,457,690 shares of the company’s stock valued at $82,856,000 after purchasing an additional 216,029 shares in the last quarter. Franklin Resources Inc. boosted its stake in StepStone Group by 11.9% during the 3rd quarter. Franklin Resources Inc. now owns 805,195 shares of the company’s stock worth $48,279,000 after purchasing an additional 85,904 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of StepStone Group during the fourth quarter worth $46,163,000. Institutional investors and hedge funds own 55.54% of the company’s stock.

StepStone Group Stock Up 3.2 %

STEP stock opened at $53.89 on Wednesday. StepStone Group LP has a 52-week low of $33.92 and a 52-week high of $70.38. The stock has a market cap of $6.25 billion, a price-to-earnings ratio of -31.89 and a beta of 1.33. The business has a fifty day moving average of $58.53 and a two-hundred day moving average of $60.11.

StepStone Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date was Friday, February 28th. StepStone Group’s payout ratio is -56.80%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on STEP. Barclays boosted their price target on shares of StepStone Group from $66.00 to $69.00 and gave the stock an “equal weight” rating in a research report on Friday, February 7th. Evercore ISI upped their price target on StepStone Group from $63.00 to $69.00 and gave the company an “outperform” rating in a research report on Monday, February 10th. Finally, Oppenheimer lifted their price objective on StepStone Group from $81.00 to $85.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, StepStone Group has an average rating of “Hold” and a consensus price target of $69.21.

Insider Activity at StepStone Group

In other news, CAO Anthony Keathley sold 538 shares of the business’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 sale, the chief accounting officer now directly owns 1,386 shares of the company’s stock, valued at approximately $87,318. The trade was a 27.96 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Scott W. Hart sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $61.43, for a total transaction of $614,300.00. Following the completion of the transaction, the chief executive officer now owns 110,000 shares in the company, valued at approximately $6,757,300. This represents a 8.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 18.44% of the stock is owned by insiders.

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.