StepStone Group Inc. (NASDAQ:STEP – Get Rating) declared a quarterly dividend on Thursday, May 26th, Zacks reports. Shareholders of record on Wednesday, June 15th will be paid a dividend of 0.20 per share on Thursday, June 30th. This represents a $0.80 dividend on an annualized basis and a yield of 2.87%. The ex-dividend date is Tuesday, June 14th. This is an increase from StepStone Group’s previous quarterly dividend of $0.15.
StepStone Group has a dividend payout ratio of 34.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect StepStone Group to earn $1.40 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 42.9%.
StepStone Group stock opened at $27.92 on Friday. The firm has a 50 day moving average price of $28.50 and a 200-day moving average price of $34.94. StepStone Group has a twelve month low of $22.39 and a twelve month high of $55.19. The company has a market capitalization of $3.02 billion, a P/E ratio of 6.12 and a beta of 1.77.
STEP has been the topic of a number of analyst reports. TheStreet cut shares of StepStone Group from a “c-” rating to a “d+” rating in a report on Friday, April 29th. Morgan Stanley cut their target price on StepStone Group from $55.00 to $50.00 and set an “overweight” rating for the company in a research note on Wednesday, April 20th. Finally, Zacks Investment Research cut StepStone Group from a “hold” rating to a “sell” rating in a research report on Saturday. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $46.00.
A number of large investors have recently modified their holdings of STEP. Point72 Hong Kong Ltd bought a new position in shares of StepStone Group in the first quarter worth approximately $36,000. Royal Bank of Canada raised its stake in shares of StepStone Group by 53.5% during the second 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. Jane Street Group LLC bought a new stake in shares of StepStone Group in the third quarter worth about $213,000. Schonfeld Strategic Advisors LLC purchased a new position in StepStone Group during the 4th quarter valued at about $229,000. Finally, PNC Financial Services Group Inc. raised its position in StepStone Group by 21.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 7,535 shares of the company’s stock valued at $250,000 after purchasing an additional 1,332 shares during the last quarter. Institutional investors own 95.74% of the company’s stock.
StepStone Group Company Profile (Get Rating)
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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