StepStone Group Inc. (STEP) to Issue Quarterly Dividend of $0.28 on March 13th

StepStone Group Inc. (NASDAQ:STEP) declared a quarterly dividend on Tuesday, February 3rd. Investors of record on Friday, February 27th will be paid a dividend of 0.28 per share on Friday, March 13th. This represents a c) dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend is Friday, February 27th.

StepStone Group has a dividend payout ratio of 48.1% meaning its dividend is sufficiently covered by earnings. Research analysts expect StepStone Group to earn $2.04 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 54.9%.

StepStone Group Trading Up 4.1%

STEP stock opened at $45.75 on Wednesday. The stock’s 50 day simple moving average is $65.64 and its 200 day simple moving average is $63.71. StepStone Group has a 12-month low of $40.07 and a 12-month high of $77.79. The stock has a market capitalization of $5.45 billion, a PE ratio of -6.59 and a beta of 1.32.

StepStone Group (NASDAQ:STEP) last posted its quarterly earnings results on Thursday, February 5th. The company reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.05. The firm had revenue of $241.13 million during the quarter, compared to analysts’ expectations of $363.92 million. StepStone Group had a positive return on equity of 31.44% and a negative net margin of 30.66%.The company’s revenue was up 102.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.44 earnings per share. On average, research analysts predict that StepStone Group will post 1.82 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on STEP. Barclays set a $67.00 target price on StepStone Group in a research report on Friday, February 6th. Morgan Stanley set a $72.00 price objective on shares of StepStone Group in a report on Tuesday, January 27th. JPMorgan Chase & Co. raised their target price on shares of StepStone Group from $84.00 to $91.00 and gave the stock an “overweight” rating in a report on Friday, February 6th. Zacks Research lowered shares of StepStone Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 10th. Finally, Evercore set a $73.00 price target on StepStone Group in a report on Friday, February 6th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $80.57.

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.