Shares of StepStone Group Inc. (NASDAQ:STEP – Get Free Report) have earned a consensus rating of “Moderate Buy” from the ten analysts that are presently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating on the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $69.00.
Several research analysts have recently weighed in on the company. Morgan Stanley reduced their target price on StepStone Group from $72.00 to $63.00 and set an “equal weight” rating for the company in a research note on Tuesday. Evercore reissued an “outperform” rating and issued a $60.00 price target on shares of StepStone Group in a research note on Thursday, May 21st. Oppenheimer cut their price target on shares of StepStone Group from $90.00 to $85.00 and set an “outperform” rating for the company in a report on Thursday, May 21st. BMO Capital Markets reduced their price objective on shares of StepStone Group from $62.00 to $50.00 and set an “outperform” rating for the company in a research report on Monday, July 13th. Finally, Barclays decreased their price objective on shares of StepStone Group from $62.00 to $60.00 and set an “overweight” rating on the stock in a report on Thursday, July 9th.
Read Our Latest Stock Report on STEP
StepStone Group Stock Up 5.0%
StepStone Group (NASDAQ:STEP – Get Free Report) last released its quarterly earnings results on Wednesday, May 20th. The company reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.06. The company had revenue of $305.84 million during the quarter, compared to analysts’ expectations of $292.11 million. StepStone Group had a positive return on equity of 37.69% and a negative net margin of 26.88%.StepStone Group’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.68 EPS. On average, sell-side analysts expect that StepStone Group will post 2.54 EPS for the current year.
StepStone Group Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 2.6%. The ex-dividend date was Monday, June 15th. StepStone Group’s dividend payout ratio is -16.47%.
Insider Transactions at StepStone Group
In other StepStone Group news, COO Jose A. Fernandez sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $48.60, for a total transaction of $4,860,000.00. Following the completion of the sale, the chief operating officer directly owned 102,290 shares in the company, valued at approximately $4,971,294. The trade was a 49.43% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Michael I. Mccabe acquired 120,000 shares of the business’s stock in a transaction on Thursday, June 11th. The shares were purchased at an average price of $41.85 per share, with a total value of $5,022,000.00. Following the completion of the purchase, the insider owned 433,178 shares in the company, valued at $18,128,499.30. This represents a 38.32% increase in their position. The SEC filing for this purchase provides additional information. Company insiders own 16.47% of the company’s stock.
Institutional Trading of StepStone Group
Institutional investors have recently made changes to their positions in the company. Royal Bank of Canada raised its stake in StepStone Group by 72.6% in the 1st quarter. Royal Bank of Canada now owns 9,135 shares of the company’s stock valued at $477,000 after purchasing an additional 3,843 shares during the last quarter. AQR Capital Management LLC boosted its stake in StepStone Group by 6.5% during the 1st quarter. AQR Capital Management LLC now owns 14,904 shares of the company’s stock worth $778,000 after purchasing an additional 908 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in StepStone Group by 6.0% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 39,602 shares of the company’s stock worth $2,068,000 after purchasing an additional 2,238 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in StepStone Group by 21.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 357,281 shares of the company’s stock worth $18,661,000 after purchasing an additional 63,519 shares during the last quarter. Finally, United Services Automobile Association purchased a new stake in shares of StepStone Group during the first quarter worth $209,000. 55.54% of the stock is owned by institutional investors and hedge funds.
About StepStone Group
StepStone Group is a global private markets investment firm that provides specialized investment solutions across private equity, private credit and real assets. The firm offers customized portfolios, secondary interests, direct co-investments and tailored advisory services to institutional investors worldwide. StepStone’s integrated research and data analytics platform supports its investment teams in sourcing opportunities and monitoring portfolio companies.
Founded in 2007 as an independent private markets specialist, the company has grown its presence through both organic expansion and strategic partnerships.
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