Oppenheimer Asset Management Inc. Has $1.45 Million Position in StepStone Group LP (NASDAQ:STEP)

Oppenheimer Asset Management Inc. cut its stake in StepStone Group LP (NASDAQ:STEP) by 11.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,962 shares of the company’s stock after selling 3,246 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in StepStone Group were worth $1,445,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of STEP. Raleigh Capital Management Inc. bought a new position in StepStone Group in the 4th quarter valued at about $29,000. IFP Advisors Inc acquired a new position in shares of StepStone Group in the fourth quarter valued at approximately $36,000. GAMMA Investing LLC grew its position in shares of StepStone Group by 36.6% in the fourth quarter. GAMMA Investing LLC now owns 844 shares of the company’s stock valued at $49,000 after purchasing an additional 226 shares during the last quarter. US Bancorp DE increased its stake in shares of StepStone Group by 442.7% during the third quarter. US Bancorp DE now owns 966 shares of the company’s stock worth $55,000 after purchasing an additional 788 shares during the period. Finally, Blue Trust Inc. lifted its holdings in StepStone Group by 25.5% during the 4th quarter. Blue Trust Inc. now owns 1,079 shares of the company’s stock worth $61,000 after purchasing an additional 219 shares during the last quarter. 55.54% of the stock is owned by institutional investors.

StepStone Group Price Performance

StepStone Group stock opened at $58.76 on Tuesday. The business has a 50 day moving average of $61.08 and a 200-day moving average of $60.03. The company has a market capitalization of $6.81 billion, a P/E ratio of -34.77 and a beta of 1.31. StepStone Group LP has a 1 year low of $32.58 and a 1 year high of $70.38.

StepStone Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 1.63%. The ex-dividend date of this dividend is Friday, February 28th. StepStone Group’s dividend payout ratio (DPR) is currently -56.80%.

Insider Activity

In related news, CEO Scott W. Hart sold 10,000 shares of the stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $61.43, for a total value of $614,300.00. Following the completion of the sale, the chief executive officer now directly owns 110,000 shares in the company, valued at $6,757,300. This represents a 8.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Anthony Keathley sold 538 shares of StepStone Group stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $63.00, for a total value of $33,894.00. Following the transaction, 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 disclosure for this sale can be found here. Insiders own 18.44% of the company’s stock.

Wall Street Analysts Forecast Growth

STEP has been the topic of several recent research reports. Morgan Stanley increased their price objective 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 lifted their price target on shares of StepStone Group from $64.00 to $70.50 and gave the company a “neutral” rating in a research report on Tuesday, November 19th. Barclays increased their price target on StepStone Group from $66.00 to $69.00 and gave the stock an “equal weight” rating in a research report on Friday, February 7th. Oppenheimer lifted their price objective on StepStone Group from $81.00 to $85.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Finally, Evercore ISI upped their target price on StepStone Group from $63.00 to $69.00 and gave the company an “outperform” rating in a research report on Monday, February 10th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, StepStone Group currently has an average rating of “Hold” and an average price target of $69.21.

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.