Analysts Set StepStone Group Inc. (NASDAQ:STEP) Target Price at $74.57

by · The Markets Daily

Shares of StepStone Group Inc. (NASDAQ:STEPGet Free Report) have been given an average recommendation of “Moderate Buy” by the nine research firms that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, three have given a hold recommendation, four have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $74.5714.

STEP has been the topic of a number of research analyst reports. JPMorgan Chase & Co. upped their target price on shares of StepStone Group from $73.00 to $84.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 4th. Morgan Stanley increased their price objective on StepStone Group from $61.00 to $66.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 21st. BMO Capital Markets started coverage on StepStone Group in a report on Friday, October 3rd. They set an “outperform” rating and a $74.00 price objective on the stock. The Goldman Sachs Group upgraded StepStone Group from a “neutral” rating to a “buy” rating and upped their target price for the stock from $64.00 to $83.00 in a report on Wednesday, September 17th. Finally, Oppenheimer dropped their price target on StepStone Group from $84.00 to $83.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 14th.

Read Our Latest Report on STEP

StepStone Group Stock Up 3.3%

Shares of StepStone Group stock opened at $68.81 on Tuesday. StepStone Group has a 52 week low of $40.07 and a 52 week high of $69.94. The company has a market capitalization of $8.14 billion, a PE ratio of -8.60 and a beta of 1.34. The stock’s fifty day moving average is $63.18 and its two-hundred day moving average is $61.86.

StepStone Group (NASDAQ:STEPGet Free Report) last posted its quarterly earnings results on Thursday, November 6th. The company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.05. The firm had revenue of $282.34 million for the quarter, compared to analysts’ expectations of $272.15 million. StepStone Group had a negative net margin of 40.06% and a positive return on equity of 21.53%. The business’s revenue for the quarter was up 35.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.45 earnings per share. As a group, research analysts anticipate that StepStone Group will post 1.82 earnings per share for the current year.

StepStone Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Friday, November 28th were issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 1.6%. The ex-dividend date was Friday, November 28th. StepStone Group’s dividend payout ratio is presently -14.00%.

Insider Buying and Selling at StepStone Group

In other news, COO Jose A. Fernandez sold 70,404 shares of the business’s stock in a transaction dated Tuesday, November 11th. The shares were sold at an average price of $61.41, for a total value of $4,323,509.64. Following the completion of the sale, the chief operating officer owned 140,806 shares in the company, valued at approximately $8,646,896.46. The trade was a 33.33% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Scott W. Hart sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, December 26th. The stock was sold at an average price of $66.17, for a total transaction of $661,700.00. Following the completion of the sale, the chief executive officer directly owned 10,000 shares of the company’s stock, valued at $661,700. The trade was a 50.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 362,858 shares of company stock valued at $23,341,044. Company insiders own 16.47% of the company’s stock.

Institutional Trading of StepStone Group

A number of hedge funds have recently bought and sold shares of the stock. GAMMA Investing LLC increased its holdings in shares of StepStone Group by 13.1% in the 4th quarter. GAMMA Investing LLC now owns 1,413 shares of the company’s stock valued at $91,000 after acquiring an additional 164 shares during the period. Hudson Bay Capital Management LP grew its stake in StepStone Group by 213.2% in the third quarter. Hudson Bay Capital Management LP now owns 156,855 shares of the company’s stock valued at $10,244,000 after purchasing an additional 106,781 shares during the last quarter. Swiss Life Asset Management Ltd bought a new position in StepStone Group in the third quarter worth about $213,000. Prana Capital Management LP lifted its position in shares of StepStone Group by 99.6% during the third quarter. Prana Capital Management LP now owns 111,101 shares of the company’s stock valued at $7,256,000 after buying an additional 55,433 shares during the last quarter. Finally, CIBC Bancorp USA Inc. bought a new stake in shares of StepStone Group in the 3rd quarter valued at about $486,000. Hedge funds and other institutional investors own 55.54% of the company’s stock.

StepStone Group Company Profile

(Get Free Report)

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.

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