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

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

StepStone Group has a dividend payout ratio of 43.0% indicating that its dividend is sufficiently covered by earnings. Equities 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 Up 4.9 %

STEP stock opened at $68.03 on Friday. The company has a market capitalization of $7.53 billion, a price-to-earnings ratio of 89.51 and a beta of 1.27. The firm has a 50 day moving average of $58.20 and a two-hundred day moving average of $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 posted its earnings results on Thursday, August 8th. The company reported $0.48 EPS for the quarter, topping the consensus estimate of $0.35 by $0.13. The business had revenue of $186.40 million for the quarter, compared to analyst estimates of $181.15 million. During the same period in the previous year, the company earned $0.26 earnings per share. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. On average, research analysts expect that StepStone Group will post 1.85 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. JPMorgan Chase & Co. increased their price objective on StepStone Group from $56.00 to $61.00 and gave the company an “overweight” rating in a report on Tuesday, October 1st. Morgan Stanley lifted their price target on shares of StepStone Group from $52.00 to $60.00 and gave the company an “equal weight” rating in a research report on Thursday, October 10th. The Goldman Sachs Group upped their price objective on shares of StepStone Group from $51.50 to $57.00 and gave the stock a “neutral” rating in a report on Monday, September 30th. Evercore ISI lifted their target price on shares of StepStone Group from $52.00 to $55.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Finally, Oppenheimer upped their price target on shares of StepStone Group from $56.00 to $73.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $61.71.

StepStone Group Company Profile

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.