StepStone Group (NASDAQ:STEP) Price Target Increased to $61.00 by Analysts at Barclays

by · The Cerbat Gem

StepStone Group (NASDAQ:STEP – Free Report) had its target price raised by Barclays from $51.00 to $61.00 in a research note issued to investors on Monday morning, Benzinga reports. They currently have an equal weight rating on the stock.

Several other equities analysts have also issued reports on STEP. JPMorgan Chase & Co. lifted their price target on StepStone Group from $56.00 to $61.00 and gave the stock an overweight rating in a research report on Tuesday, October 1st. Morgan Stanley lifted their price target on StepStone Group from $43.00 to $52.00 and gave the stock an equal weight rating in a research report on Monday, August 19th. The Goldman Sachs Group lifted their price target on StepStone Group from $51.50 to $57.00 and gave the stock a neutral rating in a research report on Monday, September 30th. Evercore ISI lifted their price target on StepStone Group from $41.00 to $48.00 and gave the stock an outperform rating in a research report on Monday, July 15th. Finally, UBS Group lifted their price target on StepStone Group from $44.00 to $55.00 and gave the stock a neutral rating in a research report on Wednesday, August 21st. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus target price of $49.44.

View Our Latest Research Report on STEP

StepStone Group Trading Down 1.3 %

Shares of STEP stock opened at $59.60 on Monday. StepStone Group has a 12 month low of $25.06 and a 12 month high of $61.39. The stock has a market cap of $6.59 billion, a PE ratio of 66.22 and a beta of 1.28. The company’s fifty day moving average price is $53.94 and its 200-day moving average price is $45.67.

StepStone Group (NASDAQ:STEP – Get Free Report) last announced its earnings results on Thursday, August 8th. The company reported $0.48 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.13. The business had revenue of $186.40 million for the quarter, compared to the consensus estimate of $181.15 million. During the same quarter last year, the firm posted $0.26 EPS. The business’s quarterly revenue was up 4.7% on a year-over-year basis. On average, sell-side analysts forecast that StepStone Group will post 1.83 earnings per share for the current fiscal year.

StepStone Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 1.61%. The ex-dividend date of this dividend was Friday, August 30th. This is a boost from StepStone Group’s previous quarterly dividend of $0.21. StepStone Group’s dividend payout ratio is 106.67%.

Hedge Funds Weigh In On StepStone Group

Several institutional investors have recently made changes to their positions in STEP. Wellington Management Group LLP increased its holdings in StepStone Group by 9.8% in the 4th quarter. Wellington Management Group LLP now owns 6,994,497 shares of the company’s stock worth $222,635,000 after acquiring an additional 627,059 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in StepStone Group by 150.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 850,463 shares of the company’s stock worth $30,396,000 after acquiring an additional 510,283 shares in the last quarter. Principal Financial Group Inc. increased its holdings in StepStone Group by 991.1% in the 2nd quarter. Principal Financial Group Inc. now owns 291,530 shares of the company’s stock worth $13,378,000 after acquiring an additional 264,811 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in StepStone Group by 25.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,115,384 shares of the company’s stock valued at $51,185,000 after buying an additional 225,201 shares in the last quarter. Finally, Public Sector Pension Investment Board purchased a new position in shares of StepStone Group in the second quarter valued at $5,254,000. Institutional investors own 55.54% of the company’s stock.

StepStone Group Company Profile

(Get Free Report)

StepStone Group LP. is an investment firm specializing in direct, fund of funds, secondary direct, and secondary indirect investments. For direct investment, it seeks to invest in venture debt, incubation, mezzanine, distressed/vulture, seed/startup, early venture, mid venture, late venture, emerging growth, later stage, turnaround, growth capital, industry consolidation, recapitalization, private equity and buyout investments in mature and middle market companies.

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