JPMorgan Chase & Co. Has $99.08 Million Position in StepStone Group LP (NASDAQ:STEP)

JPMorgan Chase & Co. boosted its holdings in shares of StepStone Group LP (NASDAQ:STEP) by 4.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,711,872 shares of the company’s stock after buying an additional 77,490 shares during the period. JPMorgan Chase & Co.’s holdings in StepStone Group were worth $99,083,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of StepStone Group by 6.3% in the 4th quarter. Vanguard Group Inc. now owns 6,938,181 shares of the company’s stock worth $401,582,000 after acquiring an additional 411,133 shares during the last quarter. KLP Kapitalforvaltning AS bought a new stake in StepStone Group during the 4th quarter worth approximately $793,000. Sei Investments Co. raised its stake in shares of StepStone Group by 9.8% in the fourth quarter. Sei Investments Co. now owns 84,687 shares of the company’s stock worth $4,902,000 after purchasing an additional 7,524 shares during the last quarter. Quantbot Technologies LP bought a new position in shares of StepStone Group in the fourth quarter valued at approximately $3,727,000. Finally, Summit Global Investments purchased a new position in shares of StepStone Group during the fourth quarter valued at approximately $547,000. 55.54% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently commented on STEP shares. Barclays increased their price target on StepStone Group from $66.00 to $69.00 and gave the company an “equal weight” rating in a research report on Friday, February 7th. Evercore ISI raised their price target on shares of 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 upped their price objective on shares of StepStone Group from $81.00 to $85.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $69.21.

StepStone Group Stock Performance

STEP opened at $55.61 on Thursday. StepStone Group LP has a fifty-two week low of $33.92 and a fifty-two week high of $70.38. The firm has a 50-day moving average of $58.37 and a 200 day moving average of $60.08. The firm has a market cap of $6.45 billion, a P/E ratio of -32.91 and a beta of 1.33.

StepStone Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders 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 1.73%. The ex-dividend date of this dividend was Friday, February 28th. StepStone Group’s dividend payout ratio is currently -56.80%.

Insider Transactions at StepStone Group

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

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.