Northern Trust Corp Buys 54,099 Shares of StepStone Group LP (NASDAQ:STEP)

Northern Trust Corp increased its stake in shares of StepStone Group LP (NASDAQ:STEP) by 8.5% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 692,570 shares of the company’s stock after acquiring an additional 54,099 shares during the period. Northern Trust Corp’s holdings in StepStone Group were worth $40,086,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of STEP. Steward Partners Investment Advisory LLC bought a new position in shares of StepStone Group during the fourth quarter valued at $27,000. Raleigh Capital Management Inc. acquired a new stake in shares of StepStone Group during the 4th quarter worth about $29,000. IFP Advisors Inc bought a new position in StepStone Group during the 4th quarter valued at about $36,000. Amundi boosted its position in StepStone Group by 26.7% in the fourth quarter. Amundi now owns 730 shares of the company’s stock valued at $42,000 after buying an additional 154 shares in the last quarter. Finally, GAMMA Investing LLC grew its stake in StepStone Group by 36.6% during the fourth quarter. GAMMA Investing LLC now owns 844 shares of the company’s stock worth $49,000 after buying an additional 226 shares during the last quarter. Institutional investors and hedge funds own 55.54% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on STEP. Oppenheimer set a $67.00 target price on StepStone Group and gave the stock an “outperform” rating in a report on Wednesday, April 16th. Evercore ISI boosted their price objective on StepStone Group from $63.00 to $69.00 and gave the stock an “outperform” rating in a research note on Monday, February 10th. Barclays decreased their target price on StepStone Group from $69.00 to $48.00 and set an “equal weight” rating on the stock in a report on Monday, April 7th. Finally, Morgan Stanley reduced their price target on shares of StepStone Group from $66.00 to $51.00 and set an “equal weight” rating on the stock in a research report on Monday, April 14th. 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 currently has a consensus rating of “Hold” and an average price target of $61.64.

StepStone Group Stock Down 1.2 %

Shares of STEP stock opened at $54.67 on Friday. The firm has a market cap of $6.34 billion, a price-to-earnings ratio of -32.35 and a beta of 1.37. StepStone Group LP has a 12 month low of $36.97 and a 12 month high of $70.38. The stock has a 50-day moving average price of $50.85 and a 200 day moving average price of $58.12.

Insider Transactions at StepStone Group

In other StepStone Group news, CAO Anthony Keathley sold 538 shares of StepStone Group stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $63.00, for a total transaction of $33,894.00. Following the completion of the sale, the chief accounting officer now owns 1,386 shares of the company’s stock, valued at approximately $87,318. The trade was a 27.96 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Scott W. Hart sold 10,000 shares of the company’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $61.43, for a total transaction of $614,300.00. Following the sale, the chief executive officer now owns 110,000 shares of the company’s stock, valued at $6,757,300. The trade was a 8.33 % decrease in their position. The disclosure for this sale can be found here. 18.44% of the stock is owned by corporate insiders.

StepStone Group 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.