StepStone Group (NASDAQ:STEP) Price Target Increased to $61.00 by Analysts at JPMorgan Chase & Co.

StepStone Group (NASDAQ:STEP) had its price target upped by JPMorgan Chase & Co. from $56.00 to $61.00 in a research report released on Tuesday, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

Other analysts also recently issued research reports about the company. Morgan Stanley boosted their target price 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. Barclays boosted their price target on shares of StepStone Group from $46.00 to $51.00 and gave the stock an equal weight rating in a research note on Monday, August 12th. The Goldman Sachs Group raised their price objective on StepStone Group from $51.50 to $57.00 and gave the company a neutral rating in a research note on Monday, September 30th. Evercore ISI boosted their target price on StepStone Group from $41.00 to $48.00 and gave the company an outperform rating in a research note on Monday, July 15th. Finally, UBS Group raised their target price on shares of StepStone Group from $44.00 to $55.00 and gave the stock a neutral rating in a report on Wednesday, August 21st. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of Hold and an average target price of $47.19.

StepStone Group Stock Up 1.6 %

NASDAQ:STEP opened at $60.68 on Tuesday. The stock has a market cap of $6.71 billion, a P/E ratio of 67.42 and a beta of 1.28. The business’s 50-day moving average price is $52.89 and its two-hundred day moving average price is $44.77. StepStone Group has a twelve month low of $25.06 and a twelve month high of $60.96.

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

StepStone Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date of this dividend was Friday, August 30th. This is an increase from StepStone Group’s previous quarterly dividend of $0.21. StepStone Group’s dividend payout ratio is currently 106.67%.

Institutional Trading of StepStone Group

Several large investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC bought a new position in StepStone Group in the second quarter worth about $111,000. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of StepStone Group during the first quarter valued at approximately $149,000. Acadian Asset Management LLC bought a new stake in shares of StepStone Group during the second quarter valued at approximately $206,000. MQS Management LLC purchased a new stake in StepStone Group in the first quarter worth $243,000. Finally, XTX Topco Ltd bought a new position in StepStone Group in the second quarter worth $266,000. Institutional investors own 55.54% of the company’s stock.

About StepStone Group

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.