StepStone Group (NASDAQ:STEP) Price Target Raised to $61.00 at Barclays

StepStone Group (NASDAQ:STEP) had its price objective increased by Barclays from $55.00 to $61.00 in a report released on Wednesday,Benzinga reports. Barclays currently has an overweight rating on the stock.

Other analysts have also issued research reports about the company. Evercore set a $73.00 target price on StepStone Group in a report on Friday, February 6th. UBS Group started coverage on StepStone Group in a report on Thursday, April 2nd. They issued a “buy” rating and a $60.00 target price on the stock. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of StepStone Group in a report on Thursday, January 22nd. Wall Street Zen raised StepStone Group from a “sell” rating to a “hold” rating in a report on Saturday, January 10th. Finally, Zacks Research lowered StepStone Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 10th. Seven research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $75.25.

StepStone Group Stock Performance

Shares of STEP stock opened at $48.54 on Wednesday. The stock’s 50 day simple moving average is $51.14 and its 200 day simple moving average is $60.43. StepStone Group has a twelve month low of $40.58 and a twelve month high of $77.79. The company has a market capitalization of $5.78 billion, a price-to-earnings ratio of -6.99 and a beta of 1.32.

StepStone Group (NASDAQ:STEP) last issued its quarterly earnings data on Thursday, February 5th. The company reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.05. StepStone Group had a positive return on equity of 31.44% and a negative net margin of 30.66%.The business had revenue of $241.13 million for the quarter, compared to the consensus estimate of $363.92 million. During the same period last year, the business earned $0.44 EPS. The firm’s revenue was up 102.7% compared to the same quarter last year. On average, analysts forecast that StepStone Group will post 1.82 EPS for the current fiscal year.

StepStone Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 13th. Stockholders of record on Friday, February 27th were issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend was Friday, February 27th. StepStone Group’s dividend payout ratio (DPR) is presently -16.14%.

StepStone Group declared that its board has approved a stock buyback program on Monday, March 9th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the company to reacquire up to 1.8% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity at StepStone Group

In related news, CEO Scott W. Hart sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, January 26th. The stock was sold at an average price of $72.52, for a total transaction of $725,200.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 16.47% of the stock is owned by company insiders.

Hedge Funds Weigh In On StepStone Group

Several hedge funds and other institutional investors have recently modified their holdings of STEP. Salomon & Ludwin LLC lifted its position in shares of StepStone Group by 105.0% during the 4th quarter. Salomon & Ludwin LLC now owns 414 shares of the company’s stock worth $28,000 after buying an additional 212 shares during the period. Aster Capital Management DIFC Ltd lifted its position in shares of StepStone Group by 2,285.7% during the 3rd quarter. Aster Capital Management DIFC Ltd now owns 501 shares of the company’s stock worth $33,000 after buying an additional 480 shares during the period. Quarry LP lifted its position in shares of StepStone Group by 155.7% during the 3rd quarter. Quarry LP now owns 514 shares of the company’s stock worth $34,000 after buying an additional 313 shares during the period. Fifth Third Bancorp lifted its position in shares of StepStone Group by 58.6% during the 4th quarter. Fifth Third Bancorp now owns 544 shares of the company’s stock worth $35,000 after buying an additional 201 shares during the period. Finally, Clearstead Advisors LLC lifted its position in shares of StepStone Group by 127.8% during the 3rd quarter. Clearstead Advisors LLC now owns 581 shares of the company’s stock worth $38,000 after buying an additional 326 shares during the period. Institutional investors own 55.54% of the company’s stock.

StepStone Group Company Profile

StepStone Group is a global private markets investment firm that provides specialized investment solutions across private equity, private credit and real assets. The firm offers customized portfolios, secondary interests, direct co-investments and tailored advisory services to institutional investors worldwide. StepStone’s integrated research and data analytics platform supports its investment teams in sourcing opportunities and monitoring portfolio companies.

Founded in 2007 as an independent private markets specialist, the company has grown its presence through both organic expansion and strategic partnerships.