StepStone Group (NASDAQ:STEP) PT Raised to $73.00 at Oppenheimer

StepStone Group (NASDAQ:STEP) had its price target hoisted by Oppenheimer from $56.00 to $73.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has an outperform rating on the stock.

STEP has been the subject of a number of other reports. Barclays increased their price target on StepStone Group from $51.00 to $61.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. UBS Group lifted their price target on StepStone Group from $44.00 to $55.00 and gave the company a “neutral” rating in a research note on Wednesday, August 21st. JPMorgan Chase & Co. boosted their price target on StepStone Group from $56.00 to $61.00 and gave the stock an “overweight” rating in a report on Tuesday, October 1st. Evercore ISI raised their price objective on shares of StepStone Group from $52.00 to $55.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Finally, The Goldman Sachs Group boosted their target price on shares of StepStone Group from $51.50 to $57.00 and gave the stock a “neutral” rating in a report on Monday, September 30th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $53.44.

StepStone Group Stock Down 0.2 %

STEP opened at $60.88 on Wednesday. StepStone Group has a twelve month low of $25.06 and a twelve month high of $61.48. The stock has a market capitalization of $6.74 billion, a price-to-earnings ratio of 67.64 and a beta of 1.28. The company has a 50-day simple moving average of $55.59 and a 200 day simple moving average of $46.72.

StepStone Group (NASDAQ:STEP) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.13. The firm had revenue of $186.40 million for the quarter, compared to analyst estimates of $181.15 million. The business’s revenue was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.26 EPS. Sell-side analysts anticipate that StepStone Group will post 1.83 EPS for the current fiscal year.

StepStone Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were issued a $0.24 dividend. The ex-dividend date of this dividend was Friday, August 30th. This is a boost from StepStone Group’s previous quarterly dividend of $0.21. This represents a $0.96 annualized dividend and a yield of 1.58%. StepStone Group’s dividend payout ratio is presently 106.67%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in STEP. Blue Trust Inc. increased its position in shares of StepStone Group by 1,586.3% during the third quarter. Blue Trust Inc. now owns 860 shares of the company’s stock worth $49,000 after buying an additional 809 shares during the period. Creative Planning boosted its position in StepStone Group by 20.7% during the third quarter. Creative Planning now owns 22,547 shares of the company’s stock valued at $1,281,000 after acquiring an additional 3,873 shares during the last quarter. Private Advisory Group LLC bought a new stake in StepStone Group during the third quarter valued at $1,109,000. CWM LLC grew its holdings in StepStone Group by 190.4% during the 3rd quarter. CWM LLC now owns 1,185 shares of the company’s stock worth $67,000 after acquiring an additional 777 shares during the period. Finally, GAMMA Investing LLC raised its position in shares of StepStone Group by 291.1% in the 3rd quarter. GAMMA Investing LLC now owns 618 shares of the company’s stock worth $35,000 after acquiring an additional 460 shares in the last quarter. Institutional investors own 55.54% of the company’s stock.

StepStone Group Company Profile

StepStone Group Inc is a private equity and venture capital firm specializing in direct, fund of funds, secondary direct, and secondary indirect investments. For direct investment, it seeks to invest in private debt, venture debt, incubation, mezzanine, distressed/vulture, seed/startup, early venture, mid venture, late venture, emerging growth, later stage, turnaround, growth capital, industry consolidation, recapitalization, buyout investments in mature and middle market companies.