State of Alaska Department of Revenue boosted its position in StepStone Group Inc. (NASDAQ:STEP – Free Report) by 1.7% during the first quarter, HoldingsChannel reports. The fund owned 36,563 shares of the company’s stock after buying an additional 626 shares during the quarter. State of Alaska Department of Revenue’s holdings in StepStone Group were worth $1,909,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vicus Capital increased its position in shares of StepStone Group by 9.8% during the first quarter. Vicus Capital now owns 4,020 shares of the company’s stock valued at $210,000 after buying an additional 359 shares during the period. Handelsbanken Fonder AB increased its position in shares of StepStone Group by 44.1% during the first quarter. Handelsbanken Fonder AB now owns 21,228 shares of the company’s stock valued at $1,109,000 after buying an additional 6,500 shares during the period. GAMMA Investing LLC increased its position in shares of StepStone Group by 38.5% during the first quarter. GAMMA Investing LLC now owns 1,169 shares of the company’s stock valued at $61,000 after buying an additional 325 shares during the period. Yousif Capital Management LLC increased its position in shares of StepStone Group by 2.7% during the first quarter. Yousif Capital Management LLC now owns 24,558 shares of the company’s stock valued at $1,283,000 after buying an additional 641 shares during the period. Finally, Harbor Capital Advisors Inc. increased its position in shares of StepStone Group by 42.8% during the first quarter. Harbor Capital Advisors Inc. now owns 23,527 shares of the company’s stock valued at $1,229,000 after buying an additional 7,053 shares during the period. 55.54% of the stock is currently owned by institutional investors.
StepStone Group Price Performance
Shares of STEP opened at $53.20 on Tuesday. The firm has a market cap of $6.19 billion, a P/E ratio of -22.26 and a beta of 1.40. The stock has a 50 day simple moving average of $54.51 and a two-hundred day simple moving average of $56.55. StepStone Group Inc. has a 1 year low of $40.07 and a 1 year high of $70.38.
StepStone Group Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.80%. The ex-dividend date of this dividend is Friday, June 13th. StepStone Group’s dividend payout ratio (DPR) is presently -40.17%.
Analysts Set New Price Targets
Several equities research analysts have recently weighed in on STEP shares. The Goldman Sachs Group upped their price target on StepStone Group from $57.00 to $63.00 and gave the company a “neutral” rating in a research report on Wednesday, May 28th. Morgan Stanley decreased their price target on StepStone Group from $66.00 to $51.00 and set an “equal weight” rating on the stock in a research report on Monday, April 14th. Barclays set a $62.00 price target on StepStone Group and gave the company an “equal weight” rating in a research report on Tuesday, May 27th. Finally, Oppenheimer set a $67.00 price objective on StepStone Group and gave the stock an “outperform” rating in a report on Wednesday, April 16th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, StepStone Group currently has a consensus rating of “Hold” and a consensus target price of $62.57.
Read Our Latest Research Report on StepStone Group
Insider Activity
In related news, insider Michael I. Mccabe sold 199,741 shares of the company’s stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $59.92, for a total transaction of $11,968,480.72. Following the completion of the transaction, the insider now owns 491,582 shares in the company, valued at $29,455,593.44. This represents a 28.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jason P. Ment sold 55,608 shares of the company’s stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $60.71, for a total value of $3,375,961.68. Following the transaction, the insider now owns 34,155 shares of the company’s stock, valued at approximately $2,073,550.05. This represents a 61.95% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 406,144 shares of company stock valued at $24,154,401. 18.44% of the stock is currently owned by company insiders.
StepStone Group Company 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.
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