StepStone Group LP (NASDAQ:STEP) Position Lowered by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans reduced its position in StepStone Group LP (NASDAQ:STEP) by 17.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 104,822 shares of the company’s stock after selling 22,920 shares during the quarter. Thrivent Financial for Lutherans’ holdings in StepStone Group were worth $6,067,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Mutual of America Capital Management LLC grew its position in shares of StepStone Group by 10.2% in the 3rd quarter. Mutual of America Capital Management LLC now owns 9,421 shares of the company’s stock worth $535,000 after acquiring an additional 871 shares in the last quarter. Swiss National Bank boosted its holdings in StepStone Group by 5.0% in the third quarter. Swiss National Bank now owns 112,800 shares of the company’s stock worth $6,410,000 after purchasing an additional 5,400 shares during the period. Intech Investment Management LLC acquired a new position in StepStone Group in the third quarter worth $850,000. Charles Schwab Investment Management Inc. increased its stake in StepStone Group by 16.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 596,851 shares of the company’s stock valued at $33,919,000 after purchasing an additional 84,762 shares during the last quarter. Finally, Citigroup Inc. raised its holdings in shares of StepStone Group by 129.7% during the third quarter. Citigroup Inc. now owns 81,414 shares of the company’s stock worth $4,627,000 after purchasing an additional 45,974 shares during the period. 55.54% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, CAO Anthony Keathley sold 538 shares of StepStone Group stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $63.00, for a total transaction of $33,894.00. Following the sale, the chief accounting officer now directly owns 1,386 shares in the company, valued at $87,318. The trade was a 27.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Scott W. Hart sold 10,000 shares of the stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $61.43, for a total transaction of $614,300.00. Following the completion of the transaction, the chief executive officer now owns 110,000 shares of the company’s stock, valued at $6,757,300. This represents a 8.33 % decrease in their position. The disclosure for this sale can be found here. 18.44% of the stock is currently owned by insiders.

StepStone Group Trading Down 2.4 %

STEP opened at $53.87 on Monday. The business’s 50 day moving average is $59.39 and its 200-day moving average is $60.00. The stock has a market cap of $6.25 billion, a PE ratio of -31.88 and a beta of 1.33. StepStone Group LP has a twelve month low of $33.90 and a twelve month high of $70.38.

StepStone Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 1.78%. The ex-dividend date of this dividend was Friday, February 28th. StepStone Group’s payout ratio is currently -56.80%.

Analyst Ratings Changes

Several research firms have recently commented on STEP. Evercore ISI lifted their price target on shares of StepStone Group from $63.00 to $69.00 and gave the company an “outperform” rating in a report on Monday, February 10th. Barclays lifted their target price on StepStone Group from $66.00 to $69.00 and gave the company an “equal weight” rating in a research note on Friday, February 7th. Finally, Oppenheimer increased their price target on StepStone Group from $81.00 to $85.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, StepStone Group has an average rating of “Hold” and an average target price 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.