StepStone Group Inc. Declares 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) annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend is Monday, June 15th.

StepStone Group has a payout ratio of 48.1% indicating that its dividend is sufficiently covered by earnings. Research 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

StepStone Group stock opened at $52.00 on Thursday. The stock has a market capitalization of $6.20 billion, a price-to-earnings ratio of -7.49 and a beta of 1.34. StepStone Group has a 52-week low of $40.58 and a 52-week high of $77.79. The stock’s 50 day moving average price is $50.30 and its two-hundred day moving average price is $58.20.

StepStone Group (NASDAQ:STEP) last announced its quarterly earnings data on Wednesday, May 20th. The company reported $0.57 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 firm had revenue of $305.84 million during the quarter, compared to analysts’ expectations of $292.11 million. During the same quarter last year, the firm posted $0.68 earnings per share. The company’s revenue for the quarter was up 3.4% compared to the same quarter last year. On average, equities research analysts forecast that StepStone Group will post 2.1 EPS for the current year.

StepStone Group announced that its Board of Directors has approved a share buyback program on Monday, March 9th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the company to repurchase up to 1.8% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

About StepStone Group

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.