StepStone Group Inc. (NASDAQ:STEP) Announces Quarterly Dividend of $0.33

StepStone Group Inc. (NASDAQ:STEP) declared a quarterly dividend on Thursday, November 5th. Shareholders 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 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend 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 dividend payout ratio of 56.7% indicating that its dividend is sufficiently covered by earnings. Research 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 cap of $5.11 billion, a price-to-earnings ratio of -5.55 and a beta of 1.28. The stock has a 50 day moving average of $45.68 and a 200-day moving average of $49.03. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 1.22. StepStone Group has a 52 week low of $38.85 and a 52 week high of $77.79.

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

Analyst Ratings Changes

A number of analysts have weighed in on STEP shares. Barclays increased their target price on shares of StepStone Group from $60.00 to $62.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. Oppenheimer decreased their price target on shares of StepStone Group from $90.00 to $88.00 and set an “outperform” rating for the company in a report on Thursday, August 27th. Wells Fargo & Company started coverage on shares of StepStone Group in a report on Friday, October 2nd. They issued an “overweight” rating and a $55.00 price target for the company. Evercore reaffirmed an “outperform” rating and set a $56.00 price objective on shares of StepStone Group in a research report on Friday, August 7th. Finally, BMO Capital Markets dropped their price objective on shares of StepStone Group from $58.00 to $48.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 27th. Eight analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, StepStone Group 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.