Deutsche Bank AG Purchases 91,848 Shares of StepStone Group Inc. (NASDAQ:STEP)

Deutsche Bank AG grew its position in shares of StepStone Group Inc. (NASDAQ:STEP) by 372.2% in the third quarter, Holdings Channel reports. The fund owned 116,527 shares of the company’s stock after buying an additional 91,848 shares during the quarter. Deutsche Bank AG’s holdings in StepStone Group were worth $4,969,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of STEP. Shell Asset Management Co. bought a new position in shares of StepStone Group during the 2nd quarter valued at approximately $60,000. Royal Bank of Canada boosted its position in shares of StepStone Group by 53.5% during the 2nd quarter. Royal Bank of Canada now owns 2,927 shares of the company’s stock valued at $101,000 after acquiring an additional 1,020 shares during the last quarter. Principal Financial Group Inc. bought a new position in shares of StepStone Group during the 2nd quarter valued at approximately $205,000. Bridgefront Capital LLC bought a new position in shares of StepStone Group during the 2nd quarter valued at approximately $210,000. Finally, LPL Financial LLC bought a new position in shares of StepStone Group during the 2nd quarter valued at approximately $222,000.

In other news, major shareholder Robert Waldo sold 4,131 shares of the stock in a transaction on Monday, October 25th. The stock was sold at an average price of $45.13, for a total transaction of $186,432.03. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Scott W. Hart sold 66,517 shares of the stock in a transaction on Thursday, November 18th. The stock was sold at an average price of $51.83, for a total value of $3,447,576.11. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,187,962 shares of company stock worth $111,435,942. Insiders own 35.34% of the company’s stock.

STEP stock opened at $37.16 on Friday. The business’s fifty day simple moving average is $43.11 and its two-hundred day simple moving average is $43.16. StepStone Group Inc. has a twelve month low of $28.52 and a twelve month high of $55.19. The firm has a market cap of $4.02 billion, a price-to-earnings ratio of 8.08 and a beta of 1.48.

StepStone Group (NASDAQ:STEP) last released its earnings results on Tuesday, November 9th. The company reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.10. StepStone Group had a return on equity of 14.35% and a net margin of 13.97%. The business had revenue of $139.70 million for the quarter, compared to analyst estimates of $114.32 million. During the same quarter last year, the firm posted $0.19 earnings per share. As a group, equities research analysts forecast that StepStone Group Inc. will post 1.48 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 15th. Shareholders of record on Tuesday, November 30th were paid a $0.15 dividend. This is a positive change from StepStone Group’s previous quarterly dividend of $0.07. The ex-dividend date was Monday, November 29th. This represents a $0.60 dividend on an annualized basis and a yield of 1.61%. StepStone Group’s dividend payout ratio (DPR) is presently 13.04%.

Several analysts recently weighed in on STEP shares. Morgan Stanley decreased their price target on StepStone Group from $56.00 to $55.00 and set an “overweight” rating on the stock in a report on Friday, October 15th. Zacks Investment Research lowered StepStone Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 18th. Finally, Evercore ISI started coverage on StepStone Group in a report on Wednesday, December 22nd. They set an “outperform” rating and a $48.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, StepStone Group presently has an average rating of “Hold” and a consensus target price of $47.60.

About StepStone Group

StepStone Group Inc is an investment firm specializing in direct, fund of funds, secondary direct, and secondary indirect investments. For direct investment, it seeks to invest in venture debt, incubation, mezzanine, distressed/vulture, seed/startup, early venture, mid venture, late venture, emerging growth, later stage, turnaround, growth capital, industry consolidation, recapitalization, and buyout investments in mature and middle market companies.

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Institutional Ownership by Quarter for StepStone Group (NASDAQ:STEP)

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