Teachers Retirement System of The State of Kentucky Grows Stake in StepStone Group LP (NASDAQ:STEP)

Teachers Retirement System of The State of Kentucky lifted its position in StepStone Group LP (NASDAQ:STEP) by 399.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 52,973 shares of the company’s stock after purchasing an additional 42,373 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in StepStone Group were worth $3,010,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. FMR LLC grew its position in StepStone Group by 3.7% during the third quarter. FMR LLC now owns 3,999,819 shares of the company’s stock worth $227,310,000 after buying an additional 141,637 shares in the last quarter. State Street Corp boosted its position in shares of StepStone Group by 12.4% during the 3rd quarter. State Street Corp now owns 2,401,034 shares of the company’s stock valued at $136,451,000 after acquiring an additional 265,240 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of StepStone Group by 17.4% during the third quarter. Geode Capital Management LLC now owns 1,457,690 shares of the company’s stock worth $82,856,000 after purchasing an additional 216,029 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of StepStone Group by 25.3% during the second quarter. Bank of New York Mellon Corp now owns 1,115,384 shares of the company’s stock worth $51,185,000 after purchasing an additional 225,201 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of StepStone Group by 8.1% in the second quarter. Dimensional Fund Advisors LP now owns 800,909 shares of the company’s stock worth $36,753,000 after purchasing an additional 60,339 shares during the last quarter. Hedge funds and other institutional investors own 55.54% of the company’s stock.

Wall Street Analyst Weigh In

STEP has been the subject of several research analyst reports. Evercore ISI lifted their target price on shares of StepStone Group from $52.00 to $55.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. 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 report on Tuesday, October 1st. Oppenheimer increased their target price on StepStone Group from $73.00 to $84.00 and gave the company an “outperform” rating in a research note on Thursday. Morgan Stanley lifted their price target on StepStone Group from $60.00 to $65.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 14th. Finally, UBS Group increased their price objective on StepStone Group from $55.00 to $65.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, StepStone Group has an average rating of “Hold” and a consensus target price of $66.64.

Insiders Place Their Bets

In related news, CAO Anthony Keathley sold 729 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $68.85, for a total value of $50,191.65. Following the sale, the chief accounting officer now directly owns 2,158 shares of the company’s stock, valued at $148,578.30. This trade represents a 25.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO David Y. Park sold 3,000 shares of the business’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $68.21, for a total value of $204,630.00. Following the transaction, the chief financial officer now owns 20,251 shares in the company, valued at approximately $1,381,320.71. This represents a 12.90 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,820 shares of company stock valued at $1,908,856 in the last ninety days. Company insiders own 18.44% of the company’s stock.

StepStone Group Trading Down 0.1 %

Shares of NASDAQ:STEP opened at $61.95 on Friday. The stock has a market capitalization of $7.13 billion, a P/E ratio of 103.25 and a beta of 1.27. The stock’s 50-day moving average price is $62.76 and its 200-day moving average price is $54.18. StepStone Group LP has a 12-month low of $28.35 and a 12-month high of $70.38.

StepStone Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were given a dividend of $0.24 per share. The ex-dividend date was Friday, November 29th. This represents a $0.96 annualized dividend and a yield of 1.55%. StepStone Group’s payout ratio is 160.00%.

StepStone Group 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.