StepStone Group Inc. (NASDAQ:STEP) Receives $75.25 Average Target Price from Analysts
by Amy Steele · The Cerbat GemShares of StepStone Group Inc. (NASDAQ:STEP – Get Free Report) have been assigned a consensus recommendation of “Moderate Buy” from the ten research firms that are currently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and seven have issued a buy recommendation on the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $75.25.
Several brokerages recently weighed in on STEP. UBS Group began coverage on shares of StepStone Group in a research note on Thursday, April 2nd. They issued a “buy” rating and a $60.00 target price for the company. Morgan Stanley set a $72.00 target price on shares of StepStone Group in a research 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 research report on Friday, February 6th. Barclays raised their target price on shares of StepStone Group from $55.00 to $61.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, BMO Capital Markets decreased their target price on shares of StepStone Group from $70.00 to $58.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 24th.
Read Our Latest Stock Analysis on StepStone Group
StepStone Group Stock Performance
NASDAQ:STEP opened at $45.91 on Thursday. The stock has a 50-day simple moving average of $50.15 and a 200-day simple moving average of $60.14. The stock has a market cap of $5.47 billion, a P/E ratio of -6.62 and a beta of 1.32. StepStone Group has a 1 year low of $40.58 and a 1 year high of $77.79.
StepStone Group (NASDAQ:STEP – Get Free Report) last announced its earnings results on Thursday, February 5th. The company reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.05. StepStone Group had a negative net margin of 30.66% and a positive return on equity of 31.44%. The firm had revenue of $241.13 million during the quarter, compared to the consensus estimate of $363.92 million. During the same quarter in the previous year, the company posted $0.44 EPS. The firm’s revenue for the quarter was up 102.7% on a year-over-year basis. On average, equities research analysts predict that StepStone Group will post 1.82 EPS for the current year.
StepStone Group Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, March 13th. Investors of record on Friday, February 27th were paid a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 2.4%. The ex-dividend date was Friday, February 27th. StepStone Group’s dividend payout ratio is presently -16.14%.
StepStone Group declared that its board has approved a stock buyback plan on Monday, March 9th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the company to purchase up to 1.8% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its stock is undervalued.
Insider Activity
In related news, CEO Scott W. Hart sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, January 26th. The shares were sold at an average price of $72.52, for a total value of $725,200.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 16.47% of the company’s stock.
Institutional Investors Weigh In On StepStone Group
Several hedge funds have recently modified their holdings of the stock. Massachusetts Financial Services Co. MA increased its holdings in shares of StepStone Group by 2.7% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 967,800 shares of the company’s stock worth $63,207,000 after buying an additional 25,559 shares during the last quarter. Westfield Capital Management Co. LP acquired a new stake in shares of StepStone Group during the 3rd quarter worth $50,859,000. Principal Financial Group Inc. increased its holdings in shares of StepStone Group by 49.0% during the 3rd quarter. Principal Financial Group Inc. now owns 487,461 shares of the company’s stock worth $31,836,000 after buying an additional 160,318 shares during the last quarter. William Blair Investment Management LLC increased its holdings in shares of StepStone Group by 16.6% during the 3rd quarter. William Blair Investment Management LLC now owns 623,919 shares of the company’s stock worth $40,748,000 after buying an additional 88,794 shares during the last quarter. Finally, Voya Investment Management LLC increased its holdings in shares of StepStone Group by 36.1% during the 3rd quarter. Voya Investment Management LLC now owns 523,991 shares of the company’s stock worth $34,222,000 after buying an additional 138,857 shares during the last quarter. 55.54% of the stock is owned by institutional investors and hedge funds.
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.