Analysts Set StepStone Group LP (NASDAQ:STEP) PT at $47.19

StepStone Group LP (NASDAQ:STEP) has earned an average recommendation of “Hold” from the eight research firms that are currently covering the stock, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $48.44.

A number of equities analysts have recently commented on STEP shares. Morgan Stanley boosted their price objective on StepStone Group from $43.00 to $52.00 and gave the stock an “equal weight” rating in a research report on Monday, August 19th. UBS Group upped their price target on StepStone Group from $44.00 to $55.00 and gave the stock a “neutral” rating in a report on Wednesday, August 21st. JPMorgan Chase & Co. boosted their target price on shares of StepStone Group from $56.00 to $61.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 1st. Barclays increased their price target on shares of StepStone Group from $51.00 to $61.00 and gave the company an “equal weight” rating in a report on Monday. Finally, The Goldman Sachs Group raised their price target on shares of StepStone Group from $51.50 to $57.00 and gave the stock a “neutral” rating in a research report on Monday, September 30th.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. CWM LLC increased its holdings in StepStone Group by 190.4% in the third quarter. CWM LLC now owns 1,185 shares of the company’s stock valued at $67,000 after purchasing an additional 777 shares during the last quarter. GAMMA Investing LLC grew its position in shares of StepStone Group by 291.1% during the 3rd quarter. GAMMA Investing LLC now owns 618 shares of the company’s stock worth $35,000 after buying an additional 460 shares during the period. Handelsbanken Fonder AB increased its stake in shares of StepStone Group by 81.2% in the 3rd quarter. Handelsbanken Fonder AB now owns 14,728 shares of the company’s stock valued at $837,000 after acquiring an additional 6,600 shares during the last quarter. SG Americas Securities LLC increased its stake in shares of StepStone Group by 399.3% in the 3rd quarter. SG Americas Securities LLC now owns 12,024 shares of the company’s stock valued at $683,000 after acquiring an additional 9,616 shares during the last quarter. Finally, Cim LLC acquired a new stake in shares of StepStone Group in the 2nd quarter valued at approximately $1,489,000. Institutional investors own 55.54% of the company’s stock.

StepStone Group Trading Down 0.5 %

Shares of STEP stock opened at $59.91 on Friday. The stock’s fifty day simple moving average is $53.32 and its 200-day simple moving average is $45.28. The company has a market capitalization of $6.63 billion, a price-to-earnings ratio of 67.01 and a beta of 1.28. StepStone Group has a 1-year low of $25.06 and a 1-year high of $61.39.

StepStone Group (NASDAQ:STEP) last issued its earnings results on Thursday, August 8th. The company reported $0.48 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.13. The firm had revenue of $186.40 million during the quarter, compared to analysts’ expectations of $181.15 million. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.26 EPS. On average, sell-side analysts predict that StepStone Group will post 1.83 EPS for the current year.

StepStone Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were issued a dividend of $0.24 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.96 dividend on an annualized basis and a yield of 1.60%. This is a positive change from StepStone Group’s previous quarterly dividend of $0.21. StepStone Group’s dividend payout ratio is currently 106.67%.

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.