StepStone Group Inc. Announces Quarterly Dividend of $0.28 (NASDAQ:STEP)

StepStone Group Inc. (NASDAQ:STEP) announced a quarterly dividend on Wednesday, May 20th. Investors of record on Monday, June 15th will be given a dividend of 0.28 per share on Tuesday, June 30th. This represents a c) dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date is Monday, June 15th.

StepStone Group has a dividend payout ratio of 48.1% indicating that its dividend is sufficiently covered by earnings. Analysts expect StepStone Group to earn $2.60 per share next year, which means the company should continue to be able to cover its $1.12 annual dividend with an expected future payout ratio of 43.1%.

StepStone Group Stock Performance

NASDAQ:STEP opened at $52.00 on Thursday. StepStone Group has a 52-week low of $40.58 and a 52-week high of $77.79. The firm has a market cap of $6.20 billion, a price-to-earnings ratio of -7.49 and a beta of 1.34. The business’s fifty day moving average is $50.30 and its 200 day moving average is $58.20.

StepStone Group (NASDAQ:STEP) last released its quarterly earnings data on Wednesday, May 20th. The company reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.06. StepStone Group had a positive return on equity of 31.44% and a negative net margin of 30.66%.The company had revenue of $305.84 million for the quarter, compared to analyst estimates of $292.11 million. During the same period in the previous year, the company posted $0.68 EPS. The firm’s revenue for the quarter was up 3.4% compared to the same quarter last year. Equities analysts predict that StepStone Group will post 2.1 EPS for the current fiscal year.

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.