StepStone Group Inc. (STEP) – What Are Researchers Saying About This Stock?

Shares of StepStone Group Inc. (NASDAQ:STEP) have received an average recommendation of “Moderate Buy” from the eleven brokerages that are presently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and eight have issued a buy recommendation on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $66.11.

STEP has been the topic of several analyst reports. Barclays lifted their target price on StepStone Group from $60.00 to $62.00 and gave the company an “overweight” rating in a research report on Friday, August 7th. Weiss Ratings reissued a “sell (d-)” rating on shares of StepStone Group in a research report on Friday, October 16th. BMO Capital Markets dropped their price objective on StepStone Group from $58.00 to $48.00 and set an “outperform” rating on the stock in a research note on Tuesday. Oppenheimer cut their price objective on shares of StepStone Group from $90.00 to $88.00 and set an “outperform” rating on the stock in a report on Thursday, August 27th. Finally, Wells Fargo & Company began coverage on StepStone Group in a research note on Friday, October 2nd. They set an “overweight” rating and a $55.00 target price on the stock.

StepStone Group Stock Down 2.8%

Shares of NASDAQ STEP opened at $43.22 on Monday. The firm has a market cap of $5.16 billion, a PE ratio of -5.60 and a beta of 1.29. StepStone Group has a 1 year low of $38.85 and a 1 year high of $77.79. The company has a 50 day simple moving average of $46.09 and a 200 day simple moving average of $49.63. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.19 and a quick ratio of 0.19.

StepStone Group (NASDAQ:STEP) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.02). The firm had revenue of $300.60 million for the quarter, compared to the consensus estimate of $309.32 million. StepStone Group had a negative net margin of 30.53% and a positive return on equity of 43.38%. On average, research analysts forecast that StepStone Group will post 2.52 EPS for the current year.

StepStone Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st were given a dividend of $0.33 per share. This is an increase from StepStone Group’s previous quarterly dividend of $0.28. The ex-dividend date was Monday, August 31st. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.1%. StepStone Group’s dividend payout ratio (DPR) is presently -17.10%.

Institutional Trading of StepStone Group

Institutional investors have recently made changes to their positions in the stock. Hsbc Holdings PLC purchased a new position in shares of StepStone Group in the 1st quarter worth about $3,898,000. Tidal Investments LLC grew its position in StepStone Group by 11.8% during the 2nd quarter. Tidal Investments LLC now owns 314,523 shares of the company’s stock valued at $13,009,000 after purchasing an additional 33,210 shares during the last quarter. Advent International L.P. purchased a new stake in StepStone Group during the 1st quarter valued at about $5,733,000. Engle Capital Management L.P. increased its stake in StepStone Group by 82.5% during the 1st quarter. Engle Capital Management L.P. now owns 237,216 shares of the company’s stock valued at $11,320,000 after purchasing an additional 107,216 shares in the last quarter. Finally, Lazard Asset Management LLC increased its stake in StepStone Group by 95.6% during the 1st quarter. Lazard Asset Management LLC now owns 332,328 shares of the company’s stock valued at $15,859,000 after purchasing an additional 162,467 shares in the last quarter. Hedge funds and other institutional investors own 55.54% of the company’s stock.

About StepStone Group

StepStone Group, Inc is a global investment firm focused on private markets. The company provides investment solutions and advisory services to institutional investors, family offices, and other clients seeking exposure to privately held and alternative assets.

Its activities include investments in private equity, venture capital, private debt, infrastructure, and real estate. StepStone builds customized portfolios through primary investments in funds, secondary-market transactions, and direct investments in companies and assets.