Raleigh Capital Management Inc. Takes $29,000 Position in StepStone Group LP (NASDAQ:STEP)

Raleigh Capital Management Inc. bought a new stake in StepStone Group LP (NASDAQ:STEP) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 500 shares of the company’s stock, valued at approximately $29,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC raised its stake in StepStone Group by 291.1% during the third quarter. GAMMA Investing LLC now owns 618 shares of the company’s stock valued at $35,000 after buying an additional 460 shares during the last quarter. Blue Trust Inc. raised its stake in StepStone Group by 1,586.3% during the third quarter. Blue Trust Inc. now owns 860 shares of the company’s stock valued at $49,000 after buying an additional 809 shares during the last quarter. US Bancorp DE raised its stake in StepStone Group by 442.7% during the third quarter. US Bancorp DE now owns 966 shares of the company’s stock valued at $55,000 after buying an additional 788 shares during the last quarter. Harvest Fund Management Co. Ltd purchased a new position in StepStone Group during the third quarter valued at $63,000. Finally, CWM LLC raised its stake in StepStone Group by 190.4% during the third quarter. CWM LLC now owns 1,185 shares of the company’s stock valued at $67,000 after buying an additional 777 shares during the last quarter. Hedge funds and other institutional investors own 55.54% of the company’s stock.

Insider Buying and Selling

In other StepStone Group news, CAO Anthony Keathley sold 729 shares of the business’s stock in a transaction dated Tuesday, November 12th. The stock was 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 owns 2,158 shares of the company’s stock, valued at approximately $148,578.30. The trade was a 25.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO David Y. Park sold 3,000 shares of the business’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $68.21, for a total value of $204,630.00. Following the sale, 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 position. The disclosure for this sale can be found here. Insiders sold 29,820 shares of company stock valued at $1,908,856 over the last 90 days. Company insiders own 18.44% of the company’s stock.

StepStone Group Price Performance

Shares of STEP opened at $64.41 on Friday. StepStone Group LP has a one year low of $32.33 and a one year high of $70.38. The firm has a market capitalization of $7.42 billion, a P/E ratio of 107.35 and a beta of 1.31. The business has a fifty day moving average of $61.77 and a 200 day moving average of $57.31.

StepStone Group (NASDAQ:STEP) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.45 EPS for the quarter, topping the consensus estimate of $0.44 by $0.01. The firm had revenue of $271.68 million during the quarter, compared to the consensus estimate of $215.51 million. During the same period in the previous year, the firm earned $0.26 EPS. Analysts expect that StepStone Group LP will post 1.83 EPS for the current fiscal year.

StepStone Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were issued a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 1.49%. The ex-dividend date was Friday, November 29th. StepStone Group’s payout ratio is currently 160.00%.

Analyst Ratings Changes

A number of brokerages have issued reports on STEP. Oppenheimer lifted their price objective on StepStone Group from $73.00 to $84.00 and gave the company an “outperform” rating in a research note on Thursday, December 12th. UBS Group lifted their price objective on StepStone Group from $55.00 to $65.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. Morgan Stanley lifted their price objective on StepStone Group from $60.00 to $65.00 and gave the company an “equal weight” rating in a research note on Thursday, November 14th. Evercore ISI decreased their price target on StepStone Group from $71.00 to $63.00 and set an “outperform” rating for the company in a research note on Friday, January 17th. Finally, Barclays decreased their price target on StepStone Group from $72.00 to $66.00 and set an “equal weight” rating for the company in a research note on Monday, December 9th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $67.79.

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.