StepStone Group (NASDAQ:STEP) Price Target Raised to $55.00 at Evercore ISI

StepStone Group (NASDAQ:STEP) had its price target boosted by Evercore ISI from $52.00 to $55.00 in a research note issued to investors on Monday, Benzinga reports. They currently have an outperform rating on the stock.

Several other equities research analysts have also recently weighed in on the company. Barclays boosted their price objective on StepStone Group from $51.00 to $61.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. UBS Group boosted their price target on StepStone Group from $44.00 to $55.00 and gave the company a “neutral” rating in a report on Wednesday, August 21st. Morgan Stanley boosted their price target on StepStone Group from $52.00 to $60.00 and gave the company an “equal weight” rating in a report on Thursday, October 10th. The Goldman Sachs Group boosted their price target on StepStone Group from $51.50 to $57.00 and gave the company a “neutral” rating in a report on Monday, September 30th. Finally, JPMorgan Chase & Co. boosted their price target on StepStone Group from $56.00 to $61.00 and gave the company an “overweight” rating in a report on Tuesday, October 1st. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, StepStone Group currently has an average rating of “Hold” and an average price target of $53.44.

StepStone Group Stock Up 0.0 %

Shares of StepStone Group stock opened at $60.98 on Monday. The stock’s 50-day simple moving average is $55.37 and its 200-day simple moving average is $46.54. StepStone Group has a 52 week low of $25.06 and a 52 week high of $61.48. The company has a market capitalization of $6.75 billion, a price-to-earnings ratio of 80.24 and a beta of 1.28.

StepStone Group (NASDAQ:STEP) last issued its earnings results on Thursday, August 8th. The company reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.13. The firm had revenue of $186.40 million during the quarter, compared to the consensus estimate of $181.15 million. During the same period last year, the firm posted $0.26 earnings per share. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. On average, equities analysts expect that StepStone Group will post 1.83 earnings per share for the current year.

StepStone Group Increases Dividend

The business also recently announced 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 was Friday, August 30th. This represents a $0.96 dividend on an annualized basis and a yield of 1.57%. This is a positive change from StepStone Group’s previous quarterly dividend of $0.21. StepStone Group’s dividend payout ratio is currently 126.32%.

Institutional Trading of StepStone Group

Hedge funds have recently bought and sold shares of the stock. Creative Planning increased its position in shares of StepStone Group by 20.7% during the third quarter. Creative Planning now owns 22,547 shares of the company’s stock worth $1,281,000 after purchasing an additional 3,873 shares in the last quarter. Private Advisory Group LLC acquired a new position in shares of StepStone Group during the third quarter worth $1,109,000. CWM LLC increased its position in shares of StepStone Group by 190.4% during the third quarter. CWM LLC now owns 1,185 shares of the company’s stock worth $67,000 after purchasing an additional 777 shares in the last quarter. GAMMA Investing LLC increased its position in shares of StepStone Group by 291.1% during the third quarter. GAMMA Investing LLC now owns 618 shares of the company’s stock worth $35,000 after purchasing an additional 460 shares in the last quarter. Finally, Handelsbanken Fonder AB increased its position in shares of StepStone Group by 81.2% during the third quarter. Handelsbanken Fonder AB now owns 14,728 shares of the company’s stock worth $837,000 after purchasing an additional 6,600 shares in the last quarter. Hedge funds and other institutional investors own 55.54% of the company’s stock.

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.