StepStone Group Inc. (NASDAQ:STEP) Given Average Recommendation of “Moderate Buy” by Analysts

StepStone Group Inc. (NASDAQ:STEP) has been assigned a consensus recommendation of “Moderate Buy” from the nine brokerages that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation, four have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $80.5714.

Several equities research analysts have recently commented on STEP shares. Barclays set a $67.00 price target on shares of StepStone Group in a research report on Friday, February 6th. Evercore set a $73.00 price target on shares of StepStone Group in a research report on Friday, February 6th. Weiss Ratings reiterated a “sell (d+)” rating on shares of StepStone Group in a research note on Thursday, January 22nd. Wall Street Zen upgraded StepStone Group from a “sell” rating to a “hold” rating in a research note on Saturday, January 10th. Finally, JPMorgan Chase & Co. raised their target price on StepStone Group from $84.00 to $91.00 and gave the stock an “overweight” rating in a report on Friday, February 6th.

Insider Buying and Selling

In related news, CEO Scott W. Hart sold 10,000 shares of the stock in a transaction that occurred on Monday, January 26th. The shares were sold at an average price of $72.52, for a total value of $725,200.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michael I. Mccabe sold 117,838 shares of StepStone Group 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 transaction, the insider directly owned 306,026 shares in the company, valued at $20,258,921.20. This represents a 27.80% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 222,052 shares of company stock valued at $14,713,290. 16.47% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

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

StepStone Group Stock Down 2.1%

Shares of StepStone Group stock opened at $55.54 on Wednesday. StepStone Group has a twelve month low of $40.07 and a twelve month high of $77.79. The company’s 50 day moving average is $67.09 and its 200 day moving average is $64.00. The company has a market cap of $6.62 billion, a price-to-earnings ratio of -8.00 and a beta of 1.32.

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

StepStone Group Dividend Announcement

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

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.