Thrivent Financial for Lutherans Boosts Stock Position in StepStone Group LP (NASDAQ:STEP)

Thrivent Financial for Lutherans lifted its position in shares of StepStone Group LP (NASDAQ:STEP) by 0.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 127,742 shares of the company’s stock after buying an additional 1,125 shares during the period. Thrivent Financial for Lutherans’ holdings in StepStone Group were worth $7,260,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Amalgamated Bank grew its position in StepStone Group by 749.8% during the second quarter. Amalgamated Bank now owns 16,001 shares of the company’s stock valued at $734,000 after acquiring an additional 14,118 shares during the last quarter. Principal Financial Group Inc. raised its position in StepStone Group by 991.1% in the 2nd quarter. Principal Financial Group Inc. now owns 291,530 shares of the company’s stock worth $13,378,000 after purchasing an additional 264,811 shares during the period. Public Sector Pension Investment Board bought a new stake in StepStone Group in the second quarter worth $5,254,000. Bank of New York Mellon Corp boosted its position in StepStone Group by 25.3% during the second quarter. Bank of New York Mellon Corp now owns 1,115,384 shares of the company’s stock valued at $51,185,000 after buying an additional 225,201 shares during the period. Finally, SG Americas Securities LLC grew its stake in shares of StepStone Group by 399.3% during the third quarter. SG Americas Securities LLC now owns 12,024 shares of the company’s stock valued at $683,000 after buying an additional 9,616 shares during the last quarter. Institutional investors own 55.54% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on STEP shares. JPMorgan Chase & Co. boosted their target price on StepStone Group from $56.00 to $61.00 and gave the company an “overweight” rating in a research note on Tuesday, October 1st. Morgan Stanley increased their price objective on StepStone Group from $60.00 to $65.00 and gave the company an “equal weight” rating in a research note on Thursday, November 14th. Evercore ISI lifted their target price on shares of StepStone Group from $52.00 to $55.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. UBS Group increased their price target 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, Barclays boosted their price objective on shares of StepStone Group from $51.00 to $61.00 and gave the company 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. Based on data from MarketBeat.com, StepStone Group has an average rating of “Hold” and an average target price of $64.36.

StepStone Group Trading Up 1.6 %

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

StepStone Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 1.43%. The ex-dividend date of this dividend is Friday, November 29th. StepStone Group’s dividend payout ratio is currently 160.00%.

Insider Buying and Selling

In related news, CAO Anthony Keathley sold 729 shares of StepStone Group stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $68.85, for a total transaction of $50,191.65. Following the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO David Y. Park sold 3,000 shares of the stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $68.21, for a total value of $204,630.00. Following the completion of the transaction, the chief financial officer now 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 position. The disclosure for this sale can be found here. 18.44% of the stock is owned by 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.