StepStone Group (NASDAQ:STEP) COO Jose Fernandez Sells 2,290 Shares

StepStone Group Inc. (NASDAQ:STEP) COO Jose Fernandez sold 2,290 shares of the business’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $42.64, for a total transaction of $97,645.60. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

StepStone Group Trading Down 5.3%

NASDAQ:STEP opened at $43.63 on Thursday. StepStone Group Inc. has a twelve month low of $40.58 and a twelve month high of $77.79. The company’s 50 day moving average is $51.19 and its two-hundred day moving average is $57.40. The company has a market cap of $5.20 billion, a PE ratio of -6.42 and a beta of 1.29.

StepStone Group (NASDAQ:STEP) last announced its quarterly earnings data on Wednesday, May 20th. The company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.51 by $0.06. StepStone Group had a negative net margin of 26.88% and a positive return on equity of 37.69%. The business had revenue of $305.84 million during the quarter, compared to analysts’ expectations of $292.11 million. During the same period in the previous year, the business posted $0.68 EPS. The business’s quarterly revenue was up 3.4% compared to the same quarter last year. As a group, analysts expect that StepStone Group Inc. will post 2.57 EPS for the current fiscal year.

StepStone Group declared that its Board of Directors has initiated a stock buyback program on Monday, March 9th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the company to reacquire up to 1.8% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

StepStone Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend is Monday, June 15th. StepStone Group’s dividend payout ratio (DPR) is -16.47%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Oppenheimer decreased their target price on shares of StepStone Group from $90.00 to $85.00 and set an “outperform” rating for the company in a research note on Thursday, May 21st. Evercore reiterated an “outperform” rating and issued a $60.00 target price on shares of StepStone Group in a research note on Thursday, May 21st. Barclays boosted their target price on shares of StepStone Group from $61.00 to $62.00 and gave the company an “overweight” rating in a research note on Thursday, May 21st. UBS Group assumed coverage on shares of StepStone Group in a research note on Thursday, April 2nd. They issued a “buy” rating and a $60.00 target price for the company. Finally, Zacks Research cut shares of StepStone Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 10th. Seven analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $71.88.

Institutional Trading of StepStone Group

Institutional investors have recently modified their holdings of the stock. Salomon & Ludwin LLC grew its position in shares of StepStone Group by 105.0% in the fourth quarter. Salomon & Ludwin LLC now owns 414 shares of the company’s stock valued at $28,000 after purchasing an additional 212 shares during the period. Aster Capital Management DIFC Ltd grew its position 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 valued at $33,000 after purchasing an additional 480 shares during the period. Quarry LP grew its position in shares of StepStone Group by 155.7% in the third quarter. Quarry LP now owns 514 shares of the company’s stock valued at $34,000 after purchasing an additional 313 shares during the period. Fifth Third Bancorp grew its position in shares of 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 purchasing an additional 201 shares during the period. Finally, Clearstead Advisors LLC raised its position in shares of StepStone Group by 127.8% in the third quarter. Clearstead Advisors LLC now owns 581 shares of the company’s stock valued at $38,000 after buying an additional 326 shares during the last quarter. Institutional investors and hedge funds own 55.54% of the company’s stock.

StepStone Group Company Profile

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.