State of Alaska Department of Revenue Has $1.89 Million Holdings in StepStone Group LP (NASDAQ:STEP)

State of Alaska Department of Revenue raised its position in shares of StepStone Group LP (NASDAQ:STEP) by 9.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 33,338 shares of the company’s stock after buying an additional 2,797 shares during the quarter. State of Alaska Department of Revenue’s holdings in StepStone Group were worth $1,894,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in STEP. GAMMA Investing LLC lifted its position in shares of StepStone Group by 291.1% in the 3rd quarter. GAMMA Investing LLC now owns 618 shares of the company’s stock valued at $35,000 after acquiring an additional 460 shares in the last quarter. Blue Trust Inc. lifted its holdings in shares of StepStone Group by 1,586.3% in the third quarter. Blue Trust Inc. now owns 860 shares of the company’s stock valued at $49,000 after purchasing an additional 809 shares in the last quarter. CWM LLC boosted its position in shares of StepStone Group by 190.4% in the third quarter. CWM LLC now owns 1,185 shares of the company’s stock worth $67,000 after buying an additional 777 shares during the period. SG Americas Securities LLC purchased a new position in shares of StepStone Group during the second quarter valued at $111,000. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new position in StepStone Group during the first quarter valued at $149,000. 55.54% of the stock is currently owned by institutional investors and hedge funds.

StepStone Group Stock Performance

StepStone Group stock opened at $59.00 on Friday. StepStone Group LP has a 52 week low of $25.06 and a 52 week high of $62.99. The firm has a market capitalization of $6.53 billion, a PE ratio of 77.63 and a beta of 1.28. The business’s 50-day simple moving average is $57.26 and its 200-day simple moving average is $48.47.

StepStone Group (NASDAQ:STEP) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.13. The business had revenue of $186.40 million for the quarter, compared to analyst estimates of $181.15 million. During the same quarter last year, the firm earned $0.26 earnings per share. The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. Research analysts forecast that StepStone Group LP will post 1.85 earnings per share for the current year.

StepStone Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were issued a $0.24 dividend. The ex-dividend date was Friday, August 30th. This is an increase from StepStone Group’s previous quarterly dividend of $0.21. This represents a $0.96 dividend on an annualized basis and a yield of 1.63%. StepStone Group’s dividend payout ratio is 126.32%.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Morgan Stanley lifted their target price on StepStone Group from $52.00 to $60.00 and gave the company an “equal weight” rating in a research note on Thursday, October 10th. The Goldman Sachs Group boosted their price objective on shares of StepStone Group from $51.50 to $57.00 and gave the company a “neutral” rating in a research report on Monday, September 30th. Barclays increased their target price on shares of StepStone Group from $51.00 to $61.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. JPMorgan Chase & Co. upped their price target on shares of StepStone Group from $56.00 to $61.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 1st. Finally, 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 report on Tuesday, October 22nd. Five investment 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 stock currently has an average rating of “Hold” and a consensus price target of $54.69.

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.