StepStone Group LP (STEP) to Issue Quarterly Dividend of $0.24 on December 13th

StepStone Group LP (NASDAQ:STEP) declared a quarterly dividend on Thursday, November 7th,Zacks Dividends reports. Shareholders of record on Friday, November 29th will be paid a dividend of 0.24 per share on Friday, December 13th. This represents a $0.96 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date of this dividend is Friday, November 29th.

StepStone Group has a payout ratio of 43.0% indicating that its dividend is sufficiently covered by earnings. Analysts expect StepStone Group to earn $2.15 per share next year, which means the company should continue to be able to cover its $0.96 annual dividend with an expected future payout ratio of 44.7%.

StepStone Group Stock Up 4.9 %

Shares of STEP traded up $3.18 during trading hours on Friday, hitting $68.03. 895,664 shares of the company were exchanged, compared to its average volume of 570,225. The company has a market cap of $7.53 billion, a price-to-earnings ratio of 89.51 and a beta of 1.27. StepStone Group has a fifty-two week low of $25.06 and a fifty-two week high of $68.70. The firm’s fifty day moving average is $58.20 and its 200 day moving average is $49.44.

StepStone Group (NASDAQ:STEP) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.13. The business had revenue of $186.40 million for the quarter, compared to the consensus estimate of $181.15 million. During the same quarter in the prior year, the company earned $0.26 earnings per share. StepStone Group’s quarterly revenue was up 4.7% compared to the same quarter last year. Analysts anticipate that StepStone Group will post 1.85 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on STEP shares. Barclays increased their target price on StepStone Group from $51.00 to $61.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. JPMorgan Chase & Co. increased their target price on StepStone Group from $56.00 to $61.00 and gave the company an “overweight” rating in a research report on Tuesday, October 1st. UBS Group increased their target price on StepStone Group from $55.00 to $65.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. Morgan Stanley increased their target price on StepStone Group from $52.00 to $60.00 and gave the company an “equal weight” rating in a research report on Thursday, October 10th. Finally, Evercore ISI increased their target price on StepStone Group from $52.00 to $55.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $61.71.

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.