StepStone Group (NASDAQ:STEP) Posts Earnings Results

StepStone Group (NASDAQ:STEP) released its earnings results on Thursday. The company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.28 by $0.05, Briefing.com reports. The business had revenue of $177.36 million for the quarter, compared to analysts’ expectations of $162.47 million. The business’s quarterly revenue was up 16.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.24 earnings per share.

StepStone Group Price Performance

StepStone Group stock opened at $41.71 on Friday. StepStone Group has a fifty-two week low of $19.83 and a fifty-two week high of $41.80. The firm’s 50 day simple moving average is $36.24 and its 200-day simple moving average is $32.94. The company has a market cap of $4.60 billion, a P/E ratio of 46.34 and a beta of 1.23.

StepStone Group Cuts Dividend

The company also recently disclosed a Variable dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be paid a dividend of $0.36 per share. The ex-dividend date of this dividend is Friday, June 14th. StepStone Group’s dividend payout ratio is presently 93.33%.

Insider Activity

In other news, Director Thomas Keck sold 3,694 shares of the company’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $35.47, for a total value of $131,026.18. Following the transaction, the director now owns 200,750 shares in the company, valued at approximately $7,120,602.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 19.89% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on STEP. Oppenheimer started coverage on shares of StepStone Group in a research report on Wednesday, March 20th. They issued an “outperform” rating and a $48.00 price target on the stock. UBS Group raised their price target on shares of StepStone Group from $37.00 to $38.00 and gave the company a “neutral” rating in a research note on Friday, April 12th. TheStreet lowered StepStone Group from a “b-” rating to a “c+” rating in a report on Friday, February 9th. Barclays raised their target price on shares of StepStone Group from $38.00 to $42.00 and gave the company an “equal weight” rating in a research note on Friday. Finally, JPMorgan Chase & Co. raised StepStone Group from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $40.00 to $49.00 in a report on Thursday, April 11th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $35.79.

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.