JPMorgan Chase & Co. Grows Stock Holdings in StepStone Group Inc. (NASDAQ:STEP)

JPMorgan Chase & Co. raised its position in StepStone Group Inc. (NASDAQ:STEPGet Rating) by 5.5% during the second quarter, Holdings Channel.com reports. The fund owned 4,071,554 shares of the company’s stock after purchasing an additional 211,752 shares during the quarter. JPMorgan Chase & Co.’s holdings in StepStone Group were worth $105,983,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Swiss National Bank increased its position in shares of StepStone Group by 1.2% during the second quarter. Swiss National Bank now owns 114,600 shares of the company’s stock valued at $2,983,000 after buying an additional 1,400 shares during the period. Shell Asset Management Co. increased its position in shares of StepStone Group by 48.4% during the second quarter. Shell Asset Management Co. now owns 13,763 shares of the company’s stock valued at $358,000 after buying an additional 4,491 shares during the period. Aviva PLC purchased a new position in shares of StepStone Group during the second quarter valued at about $1,258,000. CX Institutional purchased a new position in shares of StepStone Group during the second quarter valued at about $159,000. Finally, Chartwell Investment Partners LLC increased its position in shares of StepStone Group by 2.5% during the second quarter. Chartwell Investment Partners LLC now owns 57,532 shares of the company’s stock valued at $1,498,000 after buying an additional 1,430 shares during the period. Hedge funds and other institutional investors own 45.21% of the company’s stock.

Analysts Set New Price Targets

STEP has been the topic of several research analyst reports. Barclays reduced their price target on shares of StepStone Group from $33.00 to $29.00 and set an “equal weight” rating on the stock in a research report on Monday, October 10th. Morgan Stanley upped their price objective on shares of StepStone Group from $29.00 to $30.00 and gave the stock an “equal weight” rating in a report on Monday, November 7th. TheStreet upgraded shares of StepStone Group from a “d+” rating to a “c” rating in a report on Monday, August 22nd. Finally, Bank of America assumed coverage on shares of StepStone Group in a report on Wednesday, September 7th. They issued a “buy” rating and a $42.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $36.42.

Insider Transactions at StepStone Group

In other news, major shareholder James Lim sold 30,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 8th. The shares were sold at an average price of $29.65, for a total value of $889,500.00. Following the transaction, the insider now owns 7,383,886 shares in the company, valued at $218,932,219.90. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 20.01% of the company’s stock.

StepStone Group Stock Performance

Shares of NASDAQ STEP opened at $30.66 on Wednesday. The firm’s 50 day moving average price is $27.63 and its 200-day moving average price is $27.18. The company has a market cap of $3.34 billion, a PE ratio of 35.65, a P/E/G ratio of 2.44 and a beta of 1.36. StepStone Group Inc. has a 52-week low of $22.39 and a 52-week high of $45.22.

StepStone Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Wednesday, November 30th will be paid a $0.20 dividend. The ex-dividend date is Tuesday, November 29th. This represents a $0.80 annualized dividend and a dividend yield of 2.61%. StepStone Group’s dividend payout ratio is presently 93.02%.

StepStone Group Company Profile

(Get Rating)

StepStone Group Inc is an investment firm specializing in direct, fund of funds, secondary direct, and secondary indirect investments. For direct investment, it seeks to invest in venture debt, incubation, mezzanine, distressed/vulture, seed/startup, early venture, mid venture, late venture, emerging growth, later stage, turnaround, growth capital, industry consolidation, recapitalization, and buyout investments in mature and middle market companies.

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Institutional Ownership by Quarter for StepStone Group (NASDAQ:STEP)

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