Tidal Investments LLC Raises Holdings in StepStone Group Inc. $STEP

Tidal Investments LLC grew its position in shares of StepStone Group Inc. (NASDAQ:STEP) by 11.8% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 314,523 shares of the company’s stock after purchasing an additional 33,210 shares during the quarter. Tidal Investments LLC’s holdings in StepStone Group were worth $13,009,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. California State Teachers Retirement System boosted its position in shares of StepStone Group by 3,976.8% in the 2nd quarter. California State Teachers Retirement System now owns 3,415,757 shares of the company’s stock valued at $141,276,000 after purchasing an additional 3,331,971 shares during the period. Wellington Management Group LLP lifted its stake in StepStone Group by 65.2% in the third quarter. Wellington Management Group LLP now owns 5,723,073 shares of the company’s stock valued at $373,774,000 after buying an additional 2,257,880 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in StepStone Group by 16.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,102,666 shares of the company’s stock valued at $327,439,000 after buying an additional 724,201 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of StepStone Group by 320.8% in the third quarter. Ameriprise Financial Inc. now owns 749,841 shares of the company’s stock valued at $48,972,000 after acquiring an additional 571,643 shares during the period. Finally, Millennium Management LLC boosted its holdings in shares of StepStone Group by 14.4% in the fourth quarter. Millennium Management LLC now owns 4,456,150 shares of the company’s stock valued at $285,951,000 after acquiring an additional 561,176 shares during the period. Institutional investors and hedge funds own 55.54% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Royal Bank Of Canada assumed coverage on shares of StepStone Group in a report on Wednesday. They issued an “outperform” rating and a $65.00 target price on the stock. Wall Street Zen cut shares of StepStone Group from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. Oppenheimer lowered their price objective on shares of StepStone Group from $90.00 to $88.00 and set an “outperform” rating on the stock in a research report on Thursday, August 27th. Evercore restated an “outperform” rating and issued a $56.00 price objective on shares of StepStone Group in a research note on Friday, August 7th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of StepStone Group in a report on Monday, July 20th. Eight analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $70.56.

StepStone Group Trading Down 0.9%

Shares of STEP stock opened at $48.92 on Friday. The company has a market capitalization of $5.84 billion, a P/E ratio of -6.34 and a beta of 1.29. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 1.22. The business’s 50 day moving average is $47.00 and its two-hundred day moving average is $47.72. StepStone Group Inc. has a twelve month low of $38.85 and a twelve month high of $77.79.

StepStone Group (NASDAQ:STEP) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.48 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.02). StepStone Group had a positive return on equity of 43.38% and a negative net margin of 30.53%.The company had revenue of $300.60 million for the quarter, compared to analysts’ expectations of $309.32 million. Equities analysts forecast that StepStone Group Inc. will post 2.5 EPS for the current year.

StepStone Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st will be paid a $0.33 dividend. The ex-dividend date of this dividend is Monday, August 31st. This represents a $1.32 annualized dividend and a yield of 2.7%. This is an increase from StepStone Group’s previous quarterly dividend of $0.28. StepStone Group’s dividend payout ratio is presently -17.10%.

StepStone Group Company Profile

StepStone Group, Inc is a global investment firm focused on the private markets. The company designs and manages investment programs for institutional investors, family offices, private wealth clients and other organizations seeking access to private-market opportunities.

Its activities include investing in and managing portfolios of private equity, venture capital, private debt, real estate and infrastructure investments. StepStone provides customized portfolios, primary fund investments, secondary-market transactions, co-investments and advisory services across these asset classes.

Founded in 2013, StepStone serves clients through a global network of offices and investment professionals.