PDT Partners LLC Has $1.58 Million Stock Position in StepStone Group LP (NASDAQ:STEP)

PDT Partners LLC raised its holdings in StepStone Group LP (NASDAQ:STEP) by 445.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 27,829 shares of the company’s stock after purchasing an additional 22,729 shares during the quarter. PDT Partners LLC’s holdings in StepStone Group were worth $1,582,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. SG Americas Securities LLC acquired a new stake in shares of StepStone Group in the 2nd quarter valued at approximately $111,000. Louisiana State Employees Retirement System bought a new stake in shares of StepStone Group during the second quarter worth $1,202,000. Bank of New York Mellon Corp grew its stake 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 buying an additional 225,201 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of StepStone Group by 991.1% during the second quarter. Principal Financial Group Inc. now owns 291,530 shares of the company’s stock worth $13,378,000 after buying an additional 264,811 shares in the last quarter. Finally, Maryland State Retirement & Pension System bought a new position in shares of StepStone Group in the 2nd quarter valued at $832,000. Institutional investors own 55.54% of the company’s stock.

Insider Buying and Selling at StepStone Group

In related news, CFO David Y. Park sold 3,000 shares of the stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $68.21, for a total transaction of $204,630.00. Following the transaction, the chief financial officer now directly owns 20,251 shares of the company’s stock, valued at $1,381,320.71. This represents a 12.90 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Anthony Keathley sold 729 shares of StepStone Group stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $68.85, for a total transaction of $50,191.65. Following the completion of the sale, the chief accounting officer now directly owns 2,158 shares of the company’s stock, valued at approximately $148,578.30. This trade represents a 25.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 18.44% of the company’s stock.

Analyst Ratings Changes

STEP has been the subject of a number of recent research reports. UBS Group upped their target price on StepStone Group from $55.00 to $65.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. JPMorgan Chase & Co. raised their price objective on shares of StepStone Group from $56.00 to $61.00 and gave the company an “overweight” rating in a report on Tuesday, October 1st. The Goldman Sachs Group boosted their target price on shares of StepStone Group from $64.00 to $70.50 and gave the stock a “neutral” rating in a report on Tuesday, November 19th. Oppenheimer upped their price target on shares of StepStone Group from $56.00 to $73.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Finally, Evercore ISI lifted their price target on shares of StepStone Group from $52.00 to $55.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $64.36.

StepStone Group Stock Performance

Shares of NASDAQ STEP opened at $65.89 on Monday. The company’s 50 day moving average price is $61.97 and its 200-day moving average price is $52.69. StepStone Group LP has a 52-week low of $25.06 and a 52-week high of $70.38. The company has a market capitalization of $7.59 billion, a P/E ratio of 109.82 and a beta of 1.27.

StepStone Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be issued a $0.24 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.96 annualized dividend and a yield of 1.46%. StepStone Group’s payout ratio is 160.00%.

About StepStone Group

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.