Grantham Mayo Van Otterloo & Co. LLC Has $40.68 Million Holdings in StepStone Group LP (NASDAQ:STEP)

Grantham Mayo Van Otterloo & Co. LLC boosted its position in shares of StepStone Group LP (NASDAQ:STEP) by 4.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 702,767 shares of the company’s stock after acquiring an additional 28,594 shares during the period. Grantham Mayo Van Otterloo & Co. LLC owned 0.61% of StepStone Group worth $40,676,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. The Manufacturers Life Insurance Company lifted its position in shares of StepStone Group by 3.6% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 33,223 shares of the company’s stock worth $1,888,000 after purchasing an additional 1,155 shares during the last quarter. MetLife Investment Management LLC boosted its position in shares of StepStone Group by 15.8% in the third quarter. MetLife Investment Management LLC now owns 35,418 shares of the company’s stock valued at $2,013,000 after acquiring an additional 4,825 shares during the period. Hilltop Holdings Inc. acquired a new stake in shares of StepStone Group in the third quarter worth $462,000. HighTower Advisors LLC increased its position in StepStone Group by 964.8% during the third quarter. HighTower Advisors LLC now owns 53,400 shares of the company’s stock worth $3,046,000 after acquiring an additional 48,385 shares during the period. Finally, Jacobs Levy Equity Management Inc. acquired a new position in StepStone Group during the 3rd quarter valued at $227,000. 55.54% of the stock is currently owned by institutional investors.

StepStone Group Trading Down 8.0 %

Shares of STEP opened at $43.90 on Friday. The stock has a market cap of $5.09 billion, a PE ratio of -25.98 and a beta of 1.36. StepStone Group LP has a 1 year low of $34.01 and a 1 year high of $70.38. The stock has a 50 day simple moving average of $57.63 and a 200-day simple moving average of $59.93.

StepStone Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were issued a dividend of $0.24 per share. The ex-dividend date was Friday, February 28th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.19%. StepStone Group’s payout ratio is presently -56.80%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Barclays raised their price target 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. Oppenheimer boosted their price target on StepStone Group from $81.00 to $85.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Finally, Evercore ISI raised their price objective on StepStone Group from $63.00 to $69.00 and gave the stock an “outperform” rating in a research report on Monday, February 10th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $69.21.

Insider Activity

In other news, CAO Anthony Keathley sold 538 shares of StepStone Group stock in a transaction that occurred on Wednesday, February 19th. The shares were 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 approximately $87,318. The trade was a 27.96 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Scott W. Hart sold 10,000 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 110,000 shares in the company, valued at $6,757,300. The trade was a 8.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 18.44% of the stock is owned by corporate insiders.

About StepStone Group

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.