StepStone Group Inc. (NASDAQ:STEP) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of StepStone Group Inc. (NASDAQ:STEP) have received an average rating of “Moderate Buy” from the ten analysts that are covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $71.8750.

Several analysts have issued reports on the stock. JPMorgan Chase & Co. raised their price objective on shares of StepStone Group from $84.00 to $91.00 and gave the stock an “overweight” rating in a research note on Friday, February 6th. BMO Capital Markets boosted their price objective on shares of StepStone Group from $54.00 to $62.00 and gave the company an “outperform” rating in a research report on Thursday, May 21st. Evercore reissued an “outperform” rating and issued a $60.00 price objective on shares of StepStone Group in a research report on Thursday, May 21st. UBS Group assumed coverage on shares of StepStone Group in a research report on Thursday, April 2nd. They issued a “buy” rating and a $60.00 price objective for the company. Finally, Zacks Research cut shares of StepStone Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 10th.

StepStone Group Price Performance

Shares of NASDAQ STEP opened at $46.38 on Friday. The company has a market cap of $5.53 billion, a P/E ratio of -6.82 and a beta of 1.29. StepStone Group has a 1 year low of $40.58 and a 1 year high of $77.79. The firm has a 50-day simple moving average of $51.17 and a two-hundred day simple moving average of $57.28.

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

StepStone Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be given a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend is Monday, June 15th. StepStone Group’s payout ratio is -16.47%.

StepStone Group announced that its board has initiated a stock repurchase plan on Monday, March 9th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 1.8% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Insider Transactions at StepStone Group

In other StepStone Group news, COO Jose A. Fernandez sold 2,290 shares of the stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $42.64, for a total transaction of $97,645.60. The sale 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. 16.47% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in STEP. Salomon & Ludwin LLC grew its holdings in StepStone Group by 105.0% during the 4th quarter. Salomon & Ludwin LLC now owns 414 shares of the company’s stock worth $28,000 after acquiring an additional 212 shares in the last quarter. Aster Capital Management DIFC Ltd lifted its holdings in 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 buying an additional 480 shares during the period. Essential Partners LLC lifted its holdings in StepStone Group by 17,350.0% during the first quarter. Essential Partners LLC now owns 698 shares of the company’s stock worth $33,000 after buying an additional 694 shares during the period. Quarry LP boosted its position in StepStone Group by 155.7% during the 3rd quarter. Quarry LP now owns 514 shares of the company’s stock valued at $34,000 after acquiring an additional 313 shares in the last quarter. Finally, Fifth Third Bancorp boosted its position 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 acquiring an additional 201 shares in the last quarter. 55.54% of the stock is currently owned by institutional investors.

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.