StepStone Group Inc. (NASDAQ:STEP) Receives $78.86 Average PT from Analysts

StepStone Group Inc. (NASDAQ:STEP) has earned an average rating of “Moderate Buy” from the nine brokerages that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokerages that have covered the stock in the last year is $78.8571.

Several equities research analysts recently weighed in on the stock. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of StepStone Group in a research note on Thursday, January 22nd. Morgan Stanley set a $72.00 price target on shares of StepStone Group in a research report on Tuesday, January 27th. Wall Street Zen raised StepStone Group from a “sell” rating to a “hold” rating in a research report on Saturday, January 10th. Zacks Research cut StepStone Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 10th. Finally, JPMorgan Chase & Co. lifted their target price on StepStone Group from $84.00 to $91.00 and gave the company an “overweight” rating in a report on Friday, February 6th.

StepStone Group Price Performance

NASDAQ STEP opened at $46.59 on Friday. The company has a market cap of $5.55 billion, a P/E ratio of -6.71 and a beta of 1.39. The stock has a 50-day moving average of $59.61 and a two-hundred day moving average of $62.08. StepStone Group has a 1-year low of $40.07 and a 1-year high of $77.79.

StepStone Group (NASDAQ:STEP) last issued its quarterly earnings results on Thursday, February 5th. The company reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.05. StepStone Group had a negative net margin of 30.66% and a positive return on equity of 31.44%. The business had revenue of $241.13 million for the quarter, compared to analysts’ expectations of $363.92 million. During the same quarter in the prior year, the company earned $0.44 earnings per share. The business’s quarterly revenue was up 102.7% on a year-over-year basis. On average, analysts anticipate that StepStone Group will post 1.82 EPS for the current fiscal year.

StepStone Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 13th. Shareholders of record on Friday, February 27th were given a $0.28 dividend. The ex-dividend date of this dividend was Friday, February 27th. This represents a $1.12 dividend on an annualized basis and a yield of 2.4%. StepStone Group’s dividend payout ratio (DPR) is currently -16.14%.

StepStone Group announced that its board has initiated a share repurchase plan on Monday, March 9th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 1.8% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity

In other news, CEO Scott W. Hart sold 10,000 shares of the business’s stock in a transaction dated Monday, January 26th. The stock was sold at an average price of $72.52, for a total transaction of $725,200.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 16.47% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Salomon & Ludwin LLC grew its holdings in StepStone Group by 105.0% during the 4th quarter. Salomon & Ludwin LLC now owns 414 shares of the company’s stock worth $28,000 after acquiring an additional 212 shares in the last quarter. Aster Capital Management DIFC Ltd increased its position in shares of StepStone Group by 2,285.7% in the 3rd quarter. Aster Capital Management DIFC Ltd now owns 501 shares of the company’s stock valued at $33,000 after purchasing an additional 480 shares during the last quarter. Quarry LP raised its holdings in shares of StepStone Group by 155.7% in the 3rd quarter. Quarry LP now owns 514 shares of the company’s stock valued at $34,000 after purchasing an additional 313 shares in the last quarter. Fifth Third Bancorp lifted its position in shares of StepStone Group by 58.6% during the 4th quarter. Fifth Third Bancorp now owns 544 shares of the company’s stock worth $35,000 after purchasing an additional 201 shares during the last quarter. Finally, Clearstead Advisors LLC lifted its position in shares of StepStone Group by 127.8% during the 3rd quarter. Clearstead Advisors LLC now owns 581 shares of the company’s stock worth $38,000 after purchasing an additional 326 shares during the last quarter. Hedge funds and other institutional investors own 55.54% of the company’s stock.

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.