New Age Alpha Advisors LLC Buys New Position in StepStone Group LP (NASDAQ:STEP)

New Age Alpha Advisors LLC purchased a new position in StepStone Group LP (NASDAQ:STEP) in the fourth quarter, Holdings Channel.com reports. The fund purchased 9,726 shares of the company’s stock, valued at approximately $563,000.

Other large investors have also added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC purchased a new stake in shares of StepStone Group in the 4th quarter worth about $27,000. Raleigh Capital Management Inc. bought a new position in StepStone Group in the fourth quarter worth about $29,000. IFP Advisors Inc purchased a new stake in StepStone Group in the fourth quarter worth about $36,000. Amundi boosted its position in StepStone Group by 26.7% during the 4th quarter. Amundi now owns 730 shares of the company’s stock valued at $42,000 after acquiring an additional 154 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position in StepStone Group by 36.6% during the 4th quarter. GAMMA Investing LLC now owns 844 shares of the company’s stock valued at $49,000 after acquiring an additional 226 shares in the last quarter. Institutional investors own 55.54% of the company’s stock.

StepStone Group Price Performance

Shares of NASDAQ:STEP opened at $52.23 on Tuesday. The business has a fifty day moving average price of $58.72 and a 200-day moving average price of $60.10. The company has a market capitalization of $6.06 billion, a PE ratio of -30.91 and a beta of 1.33. StepStone Group LP has a 1-year low of $33.92 and a 1-year high of $70.38.

StepStone Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were issued a $0.24 dividend. The ex-dividend date was Friday, February 28th. This represents a $0.96 annualized dividend and a yield of 1.84%. StepStone Group’s dividend payout ratio (DPR) is presently -56.80%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Evercore ISI raised their target price on StepStone Group from $63.00 to $69.00 and gave the company an “outperform” rating in a research note on Monday, February 10th. Oppenheimer raised their price objective on StepStone Group from $81.00 to $85.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Finally, Barclays upped their target price on shares of StepStone Group from $66.00 to $69.00 and gave the stock an “equal weight” rating in a research report on Friday, February 7th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $69.21.

Insider Transactions at StepStone Group

In other news, CAO Anthony Keathley sold 538 shares of the business’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $63.00, for a total value of $33,894.00. Following the completion of the transaction, the chief accounting officer now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Scott W. Hart sold 10,000 shares of the stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $61.43, for a total value of $614,300.00. Following the sale, the chief executive officer now directly owns 110,000 shares in the company, valued at $6,757,300. This trade represents a 8.33 % 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.

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.