StepStone Group Inc. (NASDAQ:STEP) Shareholders Set to Receive $0.33 Quarterly Dividend

StepStone Group Inc. (NASDAQ:STEP) declared a quarterly dividend on Thursday, November 5th. Stockholders of record on Monday, November 30th will be given a dividend of $0.33 per share on Tuesday, December 15th. This represents a $1.32 annualized dividend and a dividend yield of 3.1%. The ex-dividend date is Monday, November 30th.

StepStone Group has raised its dividend by an average of 0.8% per year over the last three years and has increased its dividend annually for the last 3 consecutive years. StepStone Group has a payout ratio of 56.7% indicating that its dividend is sufficiently covered by earnings. Analysts expect StepStone Group to earn $3.49 per share next year, which means the company should continue to be able to cover its $1.32 annual dividend with an expected future payout ratio of 37.8%.

StepStone Group Price Performance

Shares of STEP opened at $42.81 on Friday. The firm has a market capitalization of $5.11 billion, a price-to-earnings ratio of -5.55 and a beta of 1.28. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.19 and a current ratio of 0.19. StepStone Group has a one year low of $38.85 and a one year high of $77.79. The stock’s fifty day moving average is $45.68 and its 200-day moving average is $49.03.

StepStone Group (NASDAQ:STEP) last issued its quarterly earnings data on Thursday, November 5th. The company reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.11. StepStone Group had a negative net margin of 30.53% and a positive return on equity of 43.38%. The business had revenue of $362.71 million for the quarter, compared to analysts’ expectations of $324.84 million. Equities analysts anticipate that StepStone Group will post 2.51 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Royal Bank Of Canada began coverage on StepStone Group in a research report on Wednesday, September 9th. They issued an “outperform” rating and a $65.00 target price for the company. Barclays lifted their price target on StepStone Group from $60.00 to $62.00 and gave the company an “overweight” rating in a research report on Friday, August 7th. Morgan Stanley set a $61.00 price objective on StepStone Group in a research note on Friday, October 16th. Evercore restated an “outperform” rating and issued a $56.00 price objective on shares of StepStone Group in a report on Friday, August 7th. Finally, BMO Capital Markets decreased their target price on StepStone Group from $58.00 to $48.00 and set an “outperform” rating for the company in a research note on Tuesday, October 27th. Eight investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $66.11.

About StepStone Group

StepStone Group, Inc is a global investment firm focused on private markets. The company provides investment solutions and advisory services to institutional investors, family offices, and other clients seeking exposure to privately held and alternative assets.

Its activities include investments in private equity, venture capital, private debt, infrastructure, and real estate. StepStone builds customized portfolios through primary investments in funds, secondary-market transactions, and direct investments in companies and assets.