StepStone Group (NASDAQ:STEP) Price Target Cut to $66.00 by Analysts at Barclays

StepStone Group (NASDAQ:STEP) had its price objective decreased by Barclays from $72.00 to $66.00 in a research note released on Monday,Benzinga reports. Barclays currently has an equal weight rating on the stock.

Several other equities analysts have also recently weighed in on the company. Evercore ISI raised their price target on StepStone Group from $52.00 to $55.00 and gave the company an “outperform” rating in a report on Monday, October 14th. JPMorgan Chase & Co. lifted their target price on StepStone Group from $56.00 to $61.00 and gave the stock an “overweight” rating in a report on Tuesday, October 1st. The Goldman Sachs Group lifted their target price on StepStone Group from $64.00 to $70.50 and gave the stock a “neutral” rating in a report on Tuesday, November 19th. Oppenheimer lifted their target price on StepStone Group from $56.00 to $73.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Finally, Morgan Stanley lifted their target price on StepStone Group from $60.00 to $65.00 and gave the stock an “equal weight” rating in a report on Thursday, November 14th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, StepStone Group currently has an average rating of “Hold” and an average target price of $65.07.

StepStone Group Price Performance

NASDAQ STEP opened at $59.82 on Monday. The stock has a market capitalization of $6.89 billion, a PE ratio of 99.70 and a beta of 1.27. The business has a 50 day simple moving average of $62.53 and a two-hundred day simple moving average of $53.57. StepStone Group has a 1-year low of $25.88 and a 1-year high of $70.38.

StepStone Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date of this dividend is Friday, November 29th. StepStone Group’s dividend payout ratio is currently 160.00%.

Insider Buying and Selling at StepStone Group

In other news, insider Michael I. Mccabe sold 4,000 shares of the business’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $64.25, for a total value of $257,000.00. Following the completion of the transaction, the insider now directly owns 686,516 shares of the company’s stock, valued at approximately $44,108,653. The trade was a 0.58 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Anthony Keathley sold 729 shares of the business’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $68.85, for a total value of $50,191.65. Following the completion of the transaction, the chief accounting officer now directly owns 2,158 shares of the company’s stock, valued at approximately $148,578.30. The trade was a 25.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 29,820 shares of company stock valued at $1,908,856 in the last ninety days. Corporate insiders own 18.44% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in STEP. FMR LLC grew its stake in StepStone Group by 3.7% during the 3rd quarter. FMR LLC now owns 3,999,819 shares of the company’s stock worth $227,310,000 after buying an additional 141,637 shares during the last quarter. State Street Corp grew its stake in StepStone Group by 12.4% during the 3rd quarter. State Street Corp now owns 2,401,034 shares of the company’s stock worth $136,451,000 after buying an additional 265,240 shares during the last quarter. Geode Capital Management LLC grew its stake in StepStone Group by 17.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,457,690 shares of the company’s stock worth $82,856,000 after buying an additional 216,029 shares during the last quarter. Bank of New York Mellon Corp grew its stake in StepStone Group by 25.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,115,384 shares of the company’s stock worth $51,185,000 after buying an additional 225,201 shares during the last quarter. Finally, Franklin Resources Inc. grew its stake in StepStone Group by 11.9% during the 3rd quarter. Franklin Resources Inc. now owns 805,195 shares of the company’s stock worth $48,279,000 after buying an additional 85,904 shares during the last quarter. 55.54% of the stock is owned by institutional investors.

About StepStone Group

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