Harvest Fund Management Co. Ltd Takes $63,000 Position in StepStone Group LP (NASDAQ:STEP)

Harvest Fund Management Co. Ltd acquired a new stake in StepStone Group LP (NASDAQ:STEP) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,109 shares of the company’s stock, valued at approximately $63,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Citigroup Inc. grew its stake in shares of StepStone Group by 129.7% in the 3rd quarter. Citigroup Inc. now owns 81,414 shares of the company’s stock valued at $4,627,000 after buying an additional 45,974 shares during the period. Eagle Asset Management Inc. grew its position in StepStone Group by 13.4% in the third quarter. Eagle Asset Management Inc. now owns 397,272 shares of the company’s stock worth $22,577,000 after acquiring an additional 46,912 shares during the period. Charles Schwab Investment Management Inc. grew its position in StepStone Group by 16.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 596,851 shares of the company’s stock worth $33,919,000 after acquiring an additional 84,762 shares during the period. Intech Investment Management LLC acquired a new stake in StepStone Group during the third quarter worth $850,000. Finally, Swiss National Bank raised its position in StepStone Group by 5.0% in the third quarter. Swiss National Bank now owns 112,800 shares of the company’s stock valued at $6,410,000 after purchasing an additional 5,400 shares during the period. 55.54% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Evercore ISI raised their price objective on StepStone Group from $52.00 to $55.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. UBS Group lifted 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. The Goldman Sachs Group upped their price objective on shares of StepStone Group from $64.00 to $70.50 and gave the stock a “neutral” rating in a report on Tuesday, November 19th. JPMorgan Chase & Co. lifted their target price on shares of StepStone Group from $56.00 to $61.00 and gave the company an “overweight” rating in a report on Tuesday, October 1st. Finally, Barclays upped their price target on StepStone Group from $51.00 to $61.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. 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 has a consensus rating of “Hold” and a consensus price target of $64.36.

Insider Buying and Selling

In related news, CFO David Y. Park sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $68.21, for a total value of $204,630.00. Following the sale, the chief financial officer now owns 20,251 shares of the company’s stock, valued at $1,381,320.71. This trade represents a 12.90 % decrease in their ownership of the stock. The sale 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 business’s 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 transaction, the chief accounting officer now owns 2,158 shares of the company’s stock, valued at $148,578.30. This trade represents a 25.25 % decrease in their position. The disclosure for this sale can be found here. 18.44% of the stock is currently owned by insiders.

StepStone Group Stock Down 1.0 %

NASDAQ:STEP opened at $66.04 on Thursday. StepStone Group LP has a 52 week low of $25.06 and a 52 week high of $70.38. The company has a fifty day simple moving average of $61.58 and a two-hundred day simple moving average of $52.20. The company has a market cap of $7.61 billion, a price-to-earnings ratio of 110.07 and a beta of 1.27.

StepStone Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be paid a dividend of $0.24 per share. The ex-dividend date is Friday, November 29th. This represents a $0.96 annualized dividend and a yield of 1.45%. StepStone Group’s payout ratio is 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.