StepStone Group (NASDAQ:STEP) Cut to Hold at Zacks Research

Zacks Research lowered shares of StepStone Group (NASDAQ:STEP) from a strong-buy rating to a hold rating in a report released on Tuesday morning,Zacks.com reports.

Other equities research analysts also recently issued reports about the stock. Barclays set a $67.00 price target on shares of StepStone Group in a report on Friday, February 6th. Morgan Stanley set a $72.00 price target on StepStone Group in a research note on Tuesday, January 27th. Evercore set a $73.00 target price on shares of StepStone Group in a research report on Friday, February 6th. Evercore ISI set a $73.00 target price on StepStone Group in a report on Friday, February 6th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of StepStone Group in a research note on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, StepStone Group currently has a consensus rating of “Moderate Buy” and an average price target of $79.63.

StepStone Group Trading Down 4.6%

STEP opened at $56.57 on Tuesday. The company has a fifty day simple moving average of $67.51 and a 200 day simple moving average of $64.00. The firm has a market cap of $6.69 billion, a price-to-earnings ratio of -8.15 and a beta of 1.32. StepStone Group has a twelve month low of $40.07 and a twelve month high of $77.79.

StepStone Group (NASDAQ:STEP) last released its earnings results on Thursday, February 5th. The company reported $0.65 earnings per share for the quarter, beating 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 firm had revenue of $241.13 million during the quarter, compared to analyst estimates of $363.92 million. During the same quarter in the previous year, the firm earned $0.44 earnings per share. The firm’s revenue for the quarter was up 102.7% compared to the same quarter last year. On average, analysts forecast that StepStone Group will post 1.82 earnings per share for the current fiscal year.

StepStone Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Friday, February 27th will be given a dividend of $0.28 per share. The ex-dividend date is Friday, February 27th. This represents a $1.12 dividend on an annualized basis and a yield of 2.0%. StepStone Group’s payout ratio is currently -16.14%.

Insider Transactions at StepStone Group

In other news, CEO Scott W. Hart sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, January 26th. The stock was sold at an average price of $72.52, for a total value of $725,200.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Michael I. Mccabe sold 117,838 shares of the firm’s stock in a transaction that occurred on Wednesday, December 10th. The shares were sold at an average price of $66.20, for a total transaction of $7,800,875.60. Following the completion of the transaction, the insider owned 306,026 shares of the company’s stock, valued at approximately $20,258,921.20. This trade represents a 27.80% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 222,052 shares of company stock valued at $14,713,290. Insiders own 16.47% of the company’s stock.

Institutional Trading of StepStone Group

Institutional investors have recently modified their holdings of the business. Salomon & Ludwin LLC lifted 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 buying an additional 212 shares during the period. Aster Capital Management DIFC Ltd lifted its stake in shares of StepStone Group by 2,285.7% in the third quarter. Aster Capital Management DIFC Ltd now owns 501 shares of the company’s stock worth $33,000 after acquiring an additional 480 shares during the period. Quarry LP lifted its stake in shares of StepStone Group by 155.7% in the third quarter. Quarry LP now owns 514 shares of the company’s stock worth $34,000 after acquiring an additional 313 shares during the period. Fifth Third Bancorp boosted its holdings in StepStone Group by 58.6% in the fourth quarter. Fifth Third Bancorp now owns 544 shares of the company’s stock valued at $35,000 after acquiring an additional 201 shares during the last quarter. Finally, Clearstead Advisors LLC increased its position in StepStone Group by 127.8% during the 3rd quarter. Clearstead Advisors LLC now owns 581 shares of the company’s stock valued at $38,000 after purchasing an additional 326 shares during the period. 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.