StepStone Group (NASDAQ:STEP) Stock Price Target Raised at Barclays

StepStone Group (NASDAQ:STEP) had its target price hoisted by Barclays from $62.00 to $65.00 in a research report released on Friday morning,Benzinga reports. They currently have an overweight rating on the stock.

Several other analysts have also weighed in on the stock. UBS Group lifted their target price on shares of StepStone Group from $63.00 to $69.00 and gave the company a “buy” rating in a research report on Friday, August 7th. Royal Bank Of Canada started coverage on shares of StepStone Group in a research note on Wednesday, September 9th. They issued an “outperform” rating and a $65.00 target price on the stock. Morgan Stanley set a $61.00 target price on shares of StepStone Group in a research note on Friday, October 16th. Wells Fargo & Company began coverage on shares of StepStone Group in a report on Friday, October 2nd. They issued an “overweight” rating and a $55.00 target price on the stock. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of StepStone Group in a research report on Friday, October 16th. Eight investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $66.78.

StepStone Group Stock Up 10.8%

Shares of STEP traded up $4.64 during trading hours on Friday, reaching $47.45. The company’s stock had a trading volume of 1,926,606 shares, compared to its average volume of 825,946. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 1.22. The firm has a market cap of $5.66 billion, a price-to-earnings ratio of -12.07 and a beta of 1.28. The company has a 50 day moving average of $45.63 and a two-hundred day moving average of $48.90. StepStone Group has a 1-year low of $38.85 and a 1-year high of $77.79.

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

StepStone Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Monday, November 30th will be given a $0.33 dividend. The ex-dividend date is Monday, November 30th. This represents a $1.32 annualized dividend and a yield of 2.8%. StepStone Group’s payout ratio is presently -17.10%.

Hedge Funds Weigh In On StepStone Group

A number of institutional investors and hedge funds have recently bought and sold shares of STEP. Oregon Public Employees Retirement Fund increased its stake in shares of StepStone Group by 1.2% in the first quarter. Oregon Public Employees Retirement Fund now owns 16,895 shares of the company’s stock valued at $806,000 after buying an additional 200 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in StepStone Group by 1.2% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 18,234 shares of the company’s stock worth $870,000 after acquiring an additional 213 shares during the last quarter. GAMMA Investing LLC increased its position in StepStone Group by 45.5% in the 3rd quarter. GAMMA Investing LLC now owns 1,036 shares of the company’s stock valued at $45,000 after acquiring an additional 324 shares in the last quarter. Sanctuary Advisors LLC increased its position in StepStone Group by 8.8% in the 1st quarter. Sanctuary Advisors LLC now owns 4,571 shares of the company’s stock valued at $218,000 after acquiring an additional 368 shares in the last quarter. Finally, Arizona State Retirement System raised its stake in shares of StepStone Group by 2.5% in the second quarter. Arizona State Retirement System now owns 19,903 shares of the company’s stock worth $823,000 after acquiring an additional 484 shares during the last quarter. Institutional investors and hedge funds own 55.54% of the company’s stock.

Key Headlines Impacting StepStone Group

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.