StepStone Group (NASDAQ:STEP) Given New $84.00 Price Target at Oppenheimer

StepStone Group (NASDAQ:STEP) had its target price boosted by Oppenheimer from $73.00 to $84.00 in a research note published on Thursday morning,Benzinga reports. They currently have an outperform rating on the stock.

A number of other equities research analysts have also commented on STEP. The Goldman Sachs Group raised their price objective on StepStone Group from $64.00 to $70.50 and gave the stock a “neutral” rating in a research report on Tuesday, November 19th. Morgan Stanley raised their price target on shares of StepStone Group from $60.00 to $65.00 and gave the stock an “equal weight” rating in a report on Thursday, November 14th. Barclays dropped their price objective on shares of StepStone Group from $72.00 to $66.00 and set an “equal weight” rating on the stock in a research note on Monday, December 9th. UBS Group lifted their target price on shares of StepStone Group from $55.00 to $65.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. Finally, Evercore ISI increased their price objective on StepStone Group from $52.00 to $55.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $66.64.

StepStone Group Stock Down 0.1 %

STEP opened at $61.95 on Thursday. StepStone Group has a 12-month low of $28.35 and a 12-month high of $70.38. The firm has a market capitalization of $7.13 billion, a P/E ratio of 103.25 and a beta of 1.27. The stock has a fifty day moving average of $62.76 and a 200-day moving average of $54.18.

StepStone Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date was Friday, November 29th. StepStone Group’s dividend payout ratio is presently 160.00%.

Insiders Place Their Bets

In related news, CEO Scott W. Hart sold 22,091 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $63.24, for a total value of $1,397,034.84. Following the transaction, the chief executive officer now directly owns 157,909 shares in the company, valued at approximately $9,986,165.16. This trade represents a 12.27 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available 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 transaction of $50,191.65. Following the transaction, the chief accounting officer now directly owns 2,158 shares of the company’s stock, valued at approximately $148,578.30. This represents a 25.25 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,820 shares of company stock valued at $1,908,856 over the last three months. 18.44% of the stock is currently owned by insiders.

Institutional Investors Weigh In On StepStone Group

Several hedge funds and other institutional investors have recently made changes to their positions in the business. State Street Corp lifted its position in shares of 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 purchasing an additional 265,240 shares during the last quarter. Principal Financial Group Inc. boosted its position in shares of StepStone Group by 991.1% in the second quarter. Principal Financial Group Inc. now owns 291,530 shares of the company’s stock valued at $13,378,000 after acquiring an additional 264,811 shares during the period. Bank of New York Mellon Corp boosted its position in shares of StepStone Group by 25.3% in the second quarter. Bank of New York Mellon Corp now owns 1,115,384 shares of the company’s stock valued at $51,185,000 after acquiring an additional 225,201 shares during the period. Geode Capital Management LLC grew its stake in shares of StepStone Group by 17.4% in the third quarter. Geode Capital Management LLC now owns 1,457,690 shares of the company’s stock worth $82,856,000 after acquiring an additional 216,029 shares during the last quarter. Finally, FMR LLC increased its position in StepStone Group by 3.7% during the third quarter. FMR LLC now owns 3,999,819 shares of the company’s stock worth $227,310,000 after acquiring an additional 141,637 shares during the period. 55.54% of the stock is owned by institutional investors and hedge funds.

StepStone Group Company Profile

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.