StepStone Group Inc. (STEP) to Issue Quarterly Dividend of $0.28 on June 30th

StepStone Group Inc. (NASDAQ:STEP) announced a quarterly dividend on Tuesday, May 19th. Shareholders of record on Monday, June 15th will be paid a dividend of 0.28 per share on Tuesday, June 30th. This represents a c) dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Monday, June 15th.

StepStone Group has increased its dividend by an average of 0.8%annually over the last three years and has raised its dividend annually for the last 3 consecutive years. StepStone Group has a dividend payout ratio of 48.1% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect StepStone Group to earn $3.47 per share next year, which means the company should continue to be able to cover its $1.12 annual dividend with an expected future payout ratio of 32.3%.

StepStone Group Stock Up 4.4%

Shares of NASDAQ:STEP opened at $44.39 on Friday. The firm has a fifty day moving average of $50.75 and a two-hundred day moving average of $56.59. The firm has a market capitalization of $5.30 billion, a P/E ratio of -6.53 and a beta of 1.29. StepStone Group has a 12-month low of $40.58 and a 12-month high of $77.79.

StepStone Group (NASDAQ:STEP) last issued its earnings results on Wednesday, May 20th. The company reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.06. The company had revenue of $305.84 million during the quarter, compared to analyst estimates of $292.11 million. StepStone Group had a negative net margin of 26.88% and a positive return on equity of 37.69%. The company’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same quarter last year, the business posted $0.68 EPS. Equities research analysts expect that StepStone Group will post 2.57 earnings per share for the current fiscal year.

Insider Transactions at StepStone Group

In related news, COO Jose A. Fernandez sold 2,290 shares of the company’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $42.64, for a total value of $97,645.60. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Michael I. Mccabe bought 120,000 shares of the stock in a transaction that occurred on Thursday, June 11th. The stock was acquired at an average cost of $41.85 per share, for a total transaction of $5,022,000.00. Following the purchase, the insider owned 433,178 shares of the company’s stock, valued at $18,128,499.30. This trade represents a 38.32% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 16.47% of the company’s stock.

Institutional Trading of StepStone Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC increased its stake in StepStone Group by 13.1% in the fourth quarter. GAMMA Investing LLC now owns 1,413 shares of the company’s stock valued at $91,000 after acquiring an additional 164 shares during the period. Oregon Public Employees Retirement Fund grew its stake in StepStone Group by 1.2% during the first quarter. Oregon Public Employees Retirement Fund now owns 16,895 shares of the company’s stock worth $806,000 after buying an additional 200 shares during the last quarter. Fifth Third Bancorp grew its stake in StepStone Group by 58.6% during the fourth quarter. Fifth Third Bancorp now owns 544 shares of the company’s stock worth $35,000 after buying an additional 201 shares during the last quarter. Salomon & Ludwin LLC grew its stake in StepStone Group by 105.0% during the fourth quarter. Salomon & Ludwin LLC now owns 414 shares of the company’s stock worth $28,000 after buying an additional 212 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in StepStone Group by 1.2% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 18,234 shares of the company’s stock worth $870,000 after buying an additional 213 shares during the last quarter. Institutional investors own 55.54% of the company’s stock.

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.