StepStone Group Inc. (STEP) to Issue Quarterly Dividend of $0.33 on December 15th

StepStone Group Inc. (NASDAQ:STEP) declared a quarterly dividend on Thursday, November 5th. Investors of record on Monday, November 30th will be given a dividend of $0.33 per share on Tuesday, December 15th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date is Monday, November 30th.

StepStone Group has increased its dividend payment by an average of 0.8% annually over the last three years and has raised its dividend annually for the last 3 consecutive years. StepStone Group has a payout ratio of 56.7% indicating that its dividend is sufficiently covered by earnings. Research analysts expect StepStone Group to earn $3.49 per share next year, which means the company should continue to be able to cover its $1.32 annual dividend with an expected future payout ratio of 37.8%.

StepStone Group Trading Up 10.8%

Shares of STEP opened at $47.45 on Friday. The firm has a market cap of $5.66 billion, a price-to-earnings ratio of -12.07 and a beta of 1.28. StepStone Group has a fifty-two week low of $38.85 and a fifty-two week high of $77.79. The firm has a 50 day moving average price of $45.63 and a 200-day moving average price of $48.90. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.19 and a current ratio of 0.19.

StepStone Group (NASDAQ:STEP) last posted its quarterly earnings data on Thursday, November 5th. The company reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.55 by $0.11. The company had revenue of $362.71 million for the quarter, compared to the consensus estimate of $324.84 million. StepStone Group had a negative net margin of 30.53% and a positive return on equity of 43.38%. As a group, equities research analysts forecast that StepStone Group will post 2.51 earnings per share for the current year.

More StepStone Group News

Here are the key news stories impacting StepStone Group this week:

• Positive Sentiment: StepStone reported quarterly EPS of $0.66, above the $0.55 consensus estimate, and revenue of $362.71 million versus estimates of $324.84 million. EPS also increased from $0.54 a year earlier, supporting the view that results were stronger than expected. Quarterly earnings results
• Positive Sentiment: Royal Bank of Canada raised its price target to $68 from $65 and reiterated an “outperform” rating. Barclays lifted its target to $65 from $62 and kept an “overweight” rating. The target increases signal improved analyst expectations for the shares. Royal Bank of Canada rating Barclays rating
• Neutral Sentiment: The company declared a quarterly dividend of $0.33 per share, payable December 15 to shareholders of record November 30. The annualized payout is $1.32 per share, a 2.8% yield at the cited share price; the dividend may appeal to income-focused investors but is not as direct a growth catalyst as the earnings beat.

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.