Los Angeles Capital Management LLC Increases Position in StepStone Group LP (NASDAQ:STEP)

Los Angeles Capital Management LLC lifted its position in shares of StepStone Group LP (NASDAQ:STEP) by 12.3% in the 3rd quarter, Holdings Channel.com reports. The firm owned 52,081 shares of the company’s stock after purchasing an additional 5,701 shares during the period. Los Angeles Capital Management LLC’s holdings in StepStone Group were worth $2,960,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. GAMMA Investing LLC boosted its position 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 acquiring an additional 460 shares in the last quarter. Blue Trust Inc. boosted its holdings in 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. US Bancorp DE increased its stake in StepStone Group by 442.7% in 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 during the last quarter. CWM LLC raised its holdings in StepStone Group by 190.4% during the third quarter. CWM LLC now owns 1,185 shares of the company’s stock worth $67,000 after purchasing an additional 777 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new stake in StepStone Group during the second quarter worth approximately $111,000. Institutional investors and hedge funds own 55.54% of the company’s stock.

StepStone Group Price Performance

StepStone Group stock opened at $68.03 on Wednesday. The business has a 50 day simple moving average of $58.50 and a 200-day simple moving average of $49.87. StepStone Group LP has a 12 month low of $25.06 and a 12 month high of $70.38. The stock has a market capitalization of $7.53 billion, a PE ratio of 113.38 and a beta of 1.27.

StepStone Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 1.41%. The ex-dividend date is Friday, November 29th. StepStone Group’s payout ratio is 160.00%.

Analyst Ratings Changes

A number of brokerages recently weighed in on STEP. JPMorgan Chase & Co. boosted their price target on shares of StepStone Group from $56.00 to $61.00 and gave the company an “overweight” rating in a research report on Tuesday, October 1st. Oppenheimer boosted their target price on StepStone Group from $56.00 to $73.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Morgan Stanley raised their price target on StepStone Group from $52.00 to $60.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 10th. UBS Group boosted their price objective on StepStone Group from $55.00 to $65.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. Finally, The Goldman Sachs Group raised their target price on shares of StepStone Group from $51.50 to $57.00 and gave the stock a “neutral” rating in a research report on Monday, September 30th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $61.71.

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.