StepStone Group LP (NASDAQ:STEP) to Issue Quarterly Dividend of $0.24

StepStone Group LP (NASDAQ:STEP) announced a quarterly dividend on Thursday, November 7th,Zacks Dividends reports. Shareholders of record on Friday, November 29th will be given a dividend of 0.24 per share on Friday, December 13th. This represents a $0.96 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date of this dividend is Friday, November 29th.

StepStone Group has a payout ratio of 43.0% meaning its dividend is sufficiently covered by earnings. Analysts expect StepStone Group to earn $2.15 per share next year, which means the company should continue to be able to cover its $0.96 annual dividend with an expected future payout ratio of 44.7%.

StepStone Group Stock Performance

Shares of StepStone Group stock traded up $3.18 during trading on Friday, hitting $68.03. 895,664 shares of the stock were exchanged, compared to its average volume of 570,225. The stock has a market cap of $7.53 billion, a PE ratio of 89.51 and a beta of 1.27. The stock’s fifty day moving average is $58.20 and its 200 day moving average is $49.44. StepStone Group has a 12 month low of $25.06 and a 12 month high of $68.70.

StepStone Group (NASDAQ:STEP) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.48 EPS for the quarter, beating the consensus estimate of $0.35 by $0.13. The firm had revenue of $186.40 million during the quarter, compared to analyst estimates of $181.15 million. StepStone Group’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.26 EPS. Sell-side analysts anticipate that StepStone Group will post 1.85 EPS for the current fiscal year.

Analyst Ratings Changes

STEP has been the topic of several analyst reports. Morgan Stanley raised their target price on StepStone Group from $52.00 to $60.00 and gave the company an “equal weight” rating in a research report on Thursday, October 10th. Oppenheimer lifted their price objective on shares of StepStone Group from $56.00 to $73.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Evercore ISI increased their target price on shares of StepStone Group from $52.00 to $55.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Barclays raised their target price on shares of StepStone Group from $51.00 to $61.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. Finally, JPMorgan Chase & Co. increased their price objective on shares of StepStone Group from $56.00 to $61.00 and gave the company an “overweight” rating in a report on Tuesday, October 1st. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $61.71.

About StepStone Group

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