CIBC Asset Management Inc Purchases New Holdings in StepStone Group LP (NASDAQ:STEP)

CIBC Asset Management Inc acquired a new position in shares of StepStone Group LP (NASDAQ:STEP) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 4,728 shares of the company’s stock, valued at approximately $269,000.

A number of other hedge funds also recently made changes to their positions in the business. American International Group Inc. lifted its holdings in shares of StepStone Group by 1.2% during the first quarter. American International Group Inc. now owns 27,152 shares of the company’s stock worth $970,000 after buying an additional 322 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of StepStone Group by 291.1% during the 3rd quarter. GAMMA Investing LLC now owns 618 shares of the company’s stock worth $35,000 after buying an additional 460 shares in the last quarter. KBC Group NV boosted its stake in shares of StepStone Group by 35.7% in the 3rd quarter. KBC Group NV now owns 1,840 shares of the company’s stock valued at $105,000 after purchasing an additional 484 shares in the last quarter. CWM LLC lifted its stake 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 acquiring an additional 777 shares during the last quarter. Finally, US Bancorp DE boosted 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 valued at $55,000 after purchasing an additional 788 shares in the last quarter. 55.54% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at StepStone Group

In other news, CFO David Y. Park sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $68.21, for a total transaction of $204,630.00. Following the transaction, the chief financial officer now directly owns 20,251 shares of the company’s stock, valued at approximately $1,381,320.71. This trade represents a 12.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Anthony Keathley sold 729 shares of the business’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 sale, the chief accounting officer now owns 2,158 shares of the company’s stock, valued at $148,578.30. The trade was a 25.25 % decrease in their position. The disclosure for this sale can be found here. Insiders own 18.44% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on STEP. Oppenheimer boosted their price objective on shares of StepStone Group from $56.00 to $73.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Morgan Stanley upped their price objective on shares of StepStone Group from $60.00 to $65.00 and gave the company an “equal weight” rating in a report on Thursday, November 14th. UBS Group boosted their price target on shares of StepStone Group from $55.00 to $65.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. Evercore ISI lifted their target price on StepStone Group from $52.00 to $55.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Finally, Barclays lifted 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. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, StepStone Group has an average rating of “Hold” and a consensus price target of $64.36.

StepStone Group Stock Up 1.6 %

NASDAQ STEP opened at $67.05 on Friday. The company’s 50 day moving average is $60.86 and its 200-day moving average is $51.50. The firm has a market cap of $7.72 billion, a P/E ratio of 111.75 and a beta of 1.27. StepStone Group LP has a 12-month low of $25.06 and a 12-month high of $70.38.

StepStone Group Announces Dividend

The business also recently declared 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 annualized dividend and a dividend yield of 1.43%. The ex-dividend date is Friday, November 29th. StepStone Group’s dividend payout ratio (DPR) is presently 160.00%.

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.