StepStone Group (NASDAQ:STEP) Price Target Raised to $46.00 at The Goldman Sachs Group

StepStone Group (NASDAQ:STEP) had its target price boosted by The Goldman Sachs Group from $41.25 to $46.00 in a research note published on Tuesday morning, Benzinga reports. They currently have a neutral rating on the stock.

STEP has been the topic of a number of other reports. Oppenheimer initiated coverage on shares of StepStone Group in a research report on Wednesday, March 20th. They set an outperform rating and a $48.00 price objective on the stock. JPMorgan Chase & Co. raised shares of StepStone Group from a neutral rating to an overweight rating and upped their price target for the stock from $40.00 to $49.00 in a research note on Thursday, April 11th. UBS Group lifted their price objective on StepStone Group from $38.00 to $44.00 and gave the company a neutral rating in a research report on Monday, June 24th. Finally, Barclays boosted their target price on StepStone Group from $38.00 to $42.00 and gave the company an equal weight rating in a research note on Friday, May 24th. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of Hold and a consensus target price of $38.50.

StepStone Group Stock Up 0.7 %

STEP opened at $46.06 on Tuesday. The firm has a market capitalization of $5.10 billion, a P/E ratio of 51.18 and a beta of 1.27. The stock has a fifty day moving average of $40.97 and a 200-day moving average of $36.36. StepStone Group has a 12-month low of $23.24 and a 12-month high of $46.82.

StepStone Group (NASDAQ:STEP) last announced its quarterly earnings data on Thursday, May 23rd. The company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.05. The business had revenue of $177.36 million during the quarter, compared to analysts’ expectations of $162.47 million. During the same period in the prior year, the company posted $0.24 earnings per share. The firm’s revenue was up 16.0% on a year-over-year basis. On average, analysts expect that StepStone Group will post 1.7 earnings per share for the current fiscal year.

StepStone Group Cuts Dividend

The business also recently declared a Variable dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were given a $0.36 dividend. The ex-dividend date was Friday, June 14th. This represents a dividend yield of 1.9%. StepStone Group’s dividend payout ratio is currently 93.33%.

Insider Transactions at StepStone Group

In related news, Director Steven R. Mitchell sold 27,500 shares of the business’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $44.34, for a total value of $1,219,350.00. Following the completion of the sale, the director now directly owns 9,159 shares in the company, valued at approximately $406,110.06. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Director David F. Hoffmeister purchased 22,500 shares of the firm’s stock in a transaction on Thursday, May 30th. The stock was bought at an average cost of $44.29 per share, for a total transaction of $996,525.00. Following the completion of the acquisition, the director now directly owns 45,853 shares of the company’s stock, valued at $2,030,829.37. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Steven R. Mitchell sold 27,500 shares of StepStone Group stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $44.34, for a total value of $1,219,350.00. Following the completion of the transaction, the director now owns 9,159 shares in the company, valued at $406,110.06. The disclosure for this sale can be found here. 19.89% of the stock is currently owned by corporate insiders.

Institutional Trading of StepStone Group

Hedge funds have recently added to or reduced their stakes in the business. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in StepStone Group in the 1st quarter worth $149,000. MQS Management LLC bought a new stake in shares of StepStone Group in the first quarter valued at about $243,000. ProShare Advisors LLC grew its position in StepStone Group by 10.8% during the first quarter. ProShare Advisors LLC now owns 9,898 shares of the company’s stock worth $354,000 after buying an additional 963 shares in the last quarter. Quest Partners LLC acquired a new stake in StepStone Group during the fourth quarter worth about $442,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in StepStone Group by 34.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,510 shares of the company’s stock valued at $494,000 after acquiring an additional 3,937 shares during the period. Institutional investors own 55.54% of the company’s stock.

StepStone Group Company Profile

StepStone Group LP. is an investment firm specializing in direct, fund of funds, secondary direct, and secondary indirect investments. For direct investment, it seeks to invest in venture debt, incubation, mezzanine, distressed/vulture, seed/startup, early venture, mid venture, late venture, emerging growth, later stage, turnaround, growth capital, industry consolidation, recapitalization, private equity and buyout investments in mature and middle market companies.