Bryce Point Capital LLC Takes Position in StepStone Group LP (NASDAQ:STEP)

Bryce Point Capital LLC purchased a new position in StepStone Group LP (NASDAQ:STEP) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 8,885 shares of the company’s stock, valued at approximately $514,000.

Other large investors have also recently made changes to their positions in the company. Raymond James Financial Inc. purchased a new position in StepStone Group in the 4th quarter valued at $46,163,000. Massachusetts Financial Services Co. MA purchased a new position in shares of StepStone Group in the fourth quarter worth about $32,340,000. Vanguard Group Inc. boosted its position in StepStone Group by 6.3% during the fourth 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. CIBC Private Wealth Group LLC grew its stake in StepStone Group by 26.8% during the 4th quarter. CIBC Private Wealth Group LLC now owns 1,409,089 shares of the company’s stock valued at $85,518,000 after acquiring an additional 297,989 shares in the last quarter. Finally, State Street Corp raised its holdings 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 acquiring an additional 265,240 shares during the last quarter. 55.54% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at StepStone Group

In related news, CEO Scott W. Hart sold 10,000 shares of StepStone Group stock in a transaction that occurred on Thursday, February 20th. The shares were 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 in the company, valued at approximately $6,757,300. This trade represents a 8.33 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Anthony Keathley sold 538 shares of the company’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $63.00, for a total value of $33,894.00. Following the transaction, the chief accounting officer now owns 1,386 shares in the company, valued at $87,318. This trade 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 corporate insiders.

StepStone Group Stock Down 14.2 %

NASDAQ:STEP opened at $47.72 on Friday. StepStone Group LP has a 52 week low of $34.01 and a 52 week high of $70.38. The stock’s fifty day moving average is $58.04 and its two-hundred day moving average is $60.00. The company has a market capitalization of $5.53 billion, a P/E ratio of -28.24 and a beta of 1.33.

StepStone Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were issued a $0.24 dividend. The ex-dividend date was Friday, February 28th. This represents a $0.96 annualized dividend and a yield of 2.01%. StepStone Group’s dividend payout ratio (DPR) is currently -56.80%.

Analyst Ratings Changes

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

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.