StepStone Group (NASDAQ:STEP) Price Target Increased to $55.00 by Analysts at Evercore ISI

StepStone Group (NASDAQ:STEP) had its price target boosted by Evercore ISI from $52.00 to $55.00 in a report published on Monday, Benzinga reports. They currently have an outperform rating on the stock.

A number of other research firms have also recently commented on STEP. Morgan Stanley increased their target price on StepStone Group from $52.00 to $60.00 and gave the stock an equal weight rating in a research note on Thursday, October 10th. Barclays increased their target price on StepStone Group from $51.00 to $61.00 and gave the stock an equal weight rating in a research note on Monday, October 7th. JPMorgan Chase & Co. increased their target price on StepStone Group from $56.00 to $61.00 and gave the stock an overweight rating in a research note on Tuesday, October 1st. UBS Group increased their target price on StepStone Group from $44.00 to $55.00 and gave the stock a neutral rating in a research note on Wednesday, August 21st. Finally, The Goldman Sachs Group increased their target price on StepStone Group from $51.50 to $57.00 and gave the stock a neutral rating in a research note on Monday, September 30th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of Hold and an average price target of $50.31.

StepStone Group Stock Down 0.0 %

Shares of STEP stock opened at $59.96 on Monday. The stock has a market cap of $6.63 billion, a price-to-earnings ratio of 66.62 and a beta of 1.28. The business’s fifty day moving average is $54.49 and its 200 day moving average is $46.17. StepStone Group has a twelve month low of $25.06 and a twelve month high of $61.39.

StepStone Group (NASDAQ:STEP) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.13. The firm had revenue of $186.40 million during the quarter, compared to analysts’ expectations of $181.15 million. StepStone Group’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.26 earnings per share. Equities research analysts expect that StepStone Group will post 1.83 earnings per share for the current fiscal year.

StepStone Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were issued a dividend of $0.24 per share. This is an increase from StepStone Group’s previous quarterly dividend of $0.21. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date of this dividend was Friday, August 30th. StepStone Group’s dividend payout ratio is presently 106.67%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Los Angeles Capital Management LLC lifted its holdings in StepStone Group by 74.3% in the first quarter. Los Angeles Capital Management LLC now owns 50,099 shares of the company’s stock valued at $1,791,000 after acquiring an additional 21,354 shares during the period. Amalgamated Bank lifted its holdings in StepStone Group by 749.8% in the second quarter. Amalgamated Bank now owns 16,001 shares of the company’s stock valued at $734,000 after acquiring an additional 14,118 shares during the period. Wellington Management Group LLP lifted its holdings in StepStone Group by 9.8% in the fourth quarter. Wellington Management Group LLP now owns 6,994,497 shares of the company’s stock valued at $222,635,000 after acquiring an additional 627,059 shares during the period. Principal Financial Group Inc. lifted its holdings in StepStone Group by 991.1% in the second quarter. Principal Financial Group Inc. now owns 291,530 shares of the company’s stock valued at $13,378,000 after acquiring an additional 264,811 shares during the period. Finally, Public Sector Pension Investment Board bought a new position in StepStone Group in the second quarter valued at about $5,254,000. 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.