StepStone Group Inc. (NASDAQ:STEP) Announces Quarterly Dividend of $0.20

StepStone Group Inc. (NASDAQ:STEPGet Rating) declared a quarterly dividend on Thursday, August 4th, Zacks reports. Investors of record on Wednesday, August 31st will be given a dividend of 0.20 per share on Thursday, September 15th. This represents a $0.80 annualized dividend and a yield of 2.86%. The ex-dividend date is Tuesday, August 30th.

StepStone Group has a dividend payout ratio of 49.4% indicating that its dividend is sufficiently covered by earnings. Research analysts expect StepStone Group to earn $1.52 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 52.6%.

StepStone Group Stock Performance

NASDAQ STEP traded down $0.68 during trading hours on Friday, hitting $27.97. 426,538 shares of the company’s stock were exchanged, compared to its average volume of 337,718. The business’s 50 day moving average is $26.42 and its 200-day moving average is $29.32. StepStone Group has a 12-month low of $22.39 and a 12-month high of $55.19. The firm has a market capitalization of $3.03 billion, a P/E ratio of 10.03 and a beta of 1.37.

StepStone Group (NASDAQ:STEPGet Rating) last released its earnings results on Thursday, May 26th. The company reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.03). The business had revenue of $145.11 million for the quarter, compared to analysts’ expectations of $164.36 million. StepStone Group had a return on equity of 10.02% and a net margin of 14.20%. The business’s quarterly revenue was up 43.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.25 earnings per share. As a group, equities research analysts anticipate that StepStone Group will post 1.11 EPS for the current fiscal year.

Institutional Trading of StepStone Group

Large investors have recently added to or reduced their stakes in the business. Point72 Hong Kong Ltd acquired a new position in shares of StepStone Group during the 1st quarter valued at $36,000. American International Group Inc. increased its position in shares of StepStone Group by 5.5% during the 1st quarter. American International Group Inc. now owns 22,673 shares of the company’s stock valued at $750,000 after purchasing an additional 1,179 shares during the period. PNC Financial Services Group Inc. increased its position in shares of 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 period. Invesco Ltd. increased its position in shares of StepStone Group by 1.7% during the 1st quarter. Invesco Ltd. now owns 134,798 shares of the company’s stock valued at $4,456,000 after purchasing an additional 2,299 shares during the period. Finally, Sei Investments Co. increased its position in shares of StepStone Group by 30.6% during the 1st quarter. Sei Investments Co. now owns 14,661 shares of the company’s stock valued at $485,000 after purchasing an additional 3,432 shares during the period. 95.74% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on STEP shares. JPMorgan Chase & Co. lowered their target price on StepStone Group from $42.00 to $38.00 in a research note on Friday, June 10th. The Goldman Sachs Group reduced their target price on StepStone Group from $35.00 to $31.50 and set a “neutral” rating on the stock in a report on Wednesday, June 29th. Morgan Stanley downgraded StepStone Group from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $46.00 to $30.00 in a report on Tuesday, July 19th. Finally, TheStreet downgraded StepStone Group from a “c-” rating to a “d+” rating in a report on Friday, April 29th. Three investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, StepStone Group presently has a consensus rating of “Hold” and an average target price of $36.88.

About StepStone Group

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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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Dividend History for StepStone Group (NASDAQ:STEP)

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