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

Raleigh Capital Management Inc. acquired a new stake in StepStone Group LP (NASDAQ:STEP) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 500 shares of the company’s stock, valued at approximately $29,000.

Several other large investors have also made changes to their positions in STEP. Dimensional Fund Advisors LP lifted its position in shares of StepStone Group by 8.1% in the second quarter. Dimensional Fund Advisors LP now owns 800,909 shares of the company’s stock valued at $36,753,000 after acquiring an additional 60,339 shares in the last quarter. Amalgamated Bank lifted its position in shares of StepStone Group by 749.8% in the second quarter. Amalgamated Bank now owns 16,001 shares of the company’s stock valued at $734,000 after acquiring an additional 14,118 shares in the last quarter. XTX Topco Ltd purchased a new position in shares of StepStone Group in the second quarter valued at about $266,000. Sei Investments Co. lifted its position in shares of StepStone Group by 2.7% in the second quarter. Sei Investments Co. now owns 68,971 shares of the company’s stock valued at $3,165,000 after acquiring an additional 1,828 shares in the last quarter. Finally, Thrivent Financial for Lutherans lifted its position in shares of StepStone Group by 333.4% in the second quarter. Thrivent Financial for Lutherans now owns 126,617 shares of the company’s stock valued at $5,810,000 after acquiring an additional 97,401 shares in the last quarter. 55.54% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on STEP shares. UBS Group boosted their target price on StepStone Group from $55.00 to $65.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. boosted their target price on StepStone Group from $56.00 to $61.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 1st. Morgan Stanley boosted their target price on StepStone Group from $60.00 to $65.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 14th. The Goldman Sachs Group boosted their target price on StepStone Group from $64.00 to $70.50 and gave the stock a “neutral” rating in a research report on Tuesday, November 19th. Finally, Barclays decreased their target price on StepStone Group from $72.00 to $66.00 and set an “equal weight” rating on the stock in a research report on Monday, December 9th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $67.79.

Insider Activity

In other news, CAO Anthony Keathley sold 729 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $68.85, for a total transaction of $50,191.65. Following the transaction, the chief accounting officer now owns 2,158 shares of the company’s stock, valued at approximately $148,578.30. This represents a 25.25 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Scott W. Hart sold 22,091 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $63.24, for a total value of $1,397,034.84. Following the transaction, the chief executive officer now directly owns 157,909 shares in the company, valued at approximately $9,986,165.16. This represents a 12.27 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 29,820 shares of company stock valued at $1,908,856. 18.44% of the stock is currently owned by insiders.

StepStone Group Price Performance

Shares of STEP stock opened at $64.41 on Friday. StepStone Group LP has a 1 year low of $32.33 and a 1 year high of $70.38. The stock’s 50 day simple moving average is $61.77 and its two-hundred day simple moving average is $57.31. The company has a market cap of $7.42 billion, a PE ratio of 107.35 and a beta of 1.31.

StepStone Group (NASDAQ:STEP) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.01. The company had revenue of $271.68 million for the quarter, compared to analysts’ expectations of $215.51 million. During the same quarter last year, the company earned $0.26 earnings per share. Equities research analysts expect that StepStone Group LP will post 1.83 EPS for the current year.

StepStone Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were paid a dividend of $0.24 per share. The ex-dividend date was Friday, November 29th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.49%. StepStone Group’s dividend payout ratio is 160.00%.

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.