State of New Jersey Common Pension Fund D Sells 6,719 Shares of StepStone Group LP (NASDAQ:STEP)

State of New Jersey Common Pension Fund D reduced its stake in shares of StepStone Group LP (NASDAQ:STEP) by 15.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 36,343 shares of the company’s stock after selling 6,719 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in StepStone Group were worth $2,065,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of STEP. American International Group Inc. increased its holdings in StepStone Group by 1.2% in the first quarter. American International Group Inc. now owns 27,152 shares of the company’s stock valued at $970,000 after purchasing an additional 322 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of StepStone Group by 291.1% during the third quarter. GAMMA Investing LLC now owns 618 shares of the company’s stock worth $35,000 after purchasing an additional 460 shares in the last quarter. CWM LLC grew its holdings in shares of StepStone Group by 190.4% in the 3rd quarter. CWM LLC now owns 1,185 shares of the company’s stock valued at $67,000 after buying an additional 777 shares during the period. US Bancorp DE increased its position in shares of StepStone Group by 442.7% in the 3rd quarter. US Bancorp DE now owns 966 shares of the company’s stock valued at $55,000 after buying an additional 788 shares in the last quarter. Finally, Blue Trust Inc. raised its stake in StepStone Group by 1,586.3% during the 3rd quarter. Blue Trust Inc. now owns 860 shares of the company’s stock worth $49,000 after buying an additional 809 shares during the period. Institutional investors own 55.54% of the company’s stock.

Analysts Set New Price Targets

STEP has been the subject of a number of research analyst reports. The Goldman Sachs Group boosted their target price on StepStone Group from $51.50 to $57.00 and gave the company a “neutral” rating in a research note on Monday, September 30th. Barclays raised their target price on shares of StepStone Group from $51.00 to $61.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. Evercore ISI upped their price target on shares of StepStone Group from $52.00 to $55.00 and gave the company an “outperform” rating in a report on Monday, October 14th. UBS Group boosted their price objective on shares of StepStone Group from $55.00 to $65.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. Finally, JPMorgan Chase & Co. increased their target price on StepStone Group from $56.00 to $61.00 and gave the stock an “overweight” rating in a report on Tuesday, October 1st. Four investment 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 company presently has an average rating of “Hold” and an average price target of $62.43.

Insider Activity

In other StepStone Group news, CFO David Y. Park sold 3,000 shares of the stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $68.21, for a total value of $204,630.00. Following the transaction, the chief financial officer now directly owns 20,251 shares of the company’s stock, valued at $1,381,320.71. This represents a 12.90 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Anthony Keathley sold 729 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $68.85, for a total value of $50,191.65. Following the completion of the transaction, the chief accounting officer now directly owns 2,158 shares in the company, valued at $148,578.30. The trade was a 25.25 % decrease in their position. The disclosure for this sale can be found here. 18.44% of the stock is owned by insiders.

StepStone Group Price Performance

StepStone Group stock opened at $65.00 on Friday. The firm has a 50-day moving average of $59.47 and a 200-day moving average of $50.49. The company has a market cap of $7.19 billion, a price-to-earnings ratio of 108.33 and a beta of 1.27. StepStone Group LP has a one year low of $25.06 and a one year high of $70.38.

StepStone Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date of this dividend is Friday, November 29th. StepStone Group’s dividend payout ratio (DPR) is presently 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.