StepStone Group (NASDAQ:STEP) Reaches New 12-Month High – Here’s Why

StepStone Group Inc. (NASDAQ:STEP)’s stock price reached a new 52-week high on Monday . The stock traded as high as $73.54 and last traded at $73.3980, with a volume of 120036 shares trading hands. The stock had previously closed at $72.12.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on STEP. JPMorgan Chase & Co. increased their target price on StepStone Group from $73.00 to $84.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 4th. BMO Capital Markets began coverage on shares of StepStone Group in a research report on Friday, October 3rd. They set an “outperform” rating and a $74.00 price objective for the company. Morgan Stanley raised their price objective on shares of StepStone Group from $61.00 to $66.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 21st. Wall Street Zen raised shares of StepStone Group from a “sell” rating to a “hold” rating in a research note on Saturday. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of StepStone Group in a report on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, StepStone Group currently has an average rating of “Moderate Buy” and an average price target of $74.57.

StepStone Group Stock Up 1.6%

The firm has a market cap of $8.66 billion, a price-to-earnings ratio of -9.16 and a beta of 1.34. The company’s fifty day moving average is $63.83 and its 200 day moving average is $62.33.

StepStone Group (NASDAQ:STEP) last issued its quarterly earnings results on Thursday, November 6th. The company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.49 by $0.05. StepStone Group had a negative net margin of 40.06% and a positive return on equity of 21.53%. The firm had revenue of $282.34 million for the quarter, compared to analysts’ expectations of $272.15 million. During the same period in the previous year, the firm posted $0.45 EPS. The company’s revenue for the quarter was up 35.2% on a year-over-year basis. On average, equities research analysts forecast that StepStone Group Inc. will post 1.82 EPS for the current fiscal year.

StepStone Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 15th. Investors 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 1.5%. The ex-dividend date was Friday, November 28th. StepStone Group’s dividend payout ratio is presently -14.00%.

Insider Activity at StepStone Group

In other StepStone Group news, CEO Scott W. Hart sold 10,000 shares of the firm’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 value of $661,700.00. Following the completion of the transaction, the chief executive officer directly owned 10,000 shares in the company, valued at $661,700. This trade represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Michael I. Mccabe sold 117,838 shares of the business’s stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $66.20, for a total value of $7,800,875.60. Following the transaction, the insider directly owned 306,026 shares in the company, valued at $20,258,921.20. This trade represents a 27.80% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 362,858 shares of company stock valued at $23,341,044. Insiders own 16.47% of the company’s stock.

Institutional Trading of StepStone Group

A number of large investors have recently added to or reduced their stakes in STEP. Aster Capital Management DIFC Ltd grew its position in shares of StepStone Group by 2,285.7% in the 3rd quarter. Aster Capital Management DIFC Ltd now owns 501 shares of the company’s stock valued at $33,000 after acquiring an additional 480 shares during the period. Quarry LP lifted its stake in StepStone Group by 155.7% in the 3rd quarter. Quarry LP now owns 514 shares of the company’s stock valued at $34,000 after purchasing an additional 313 shares during the last quarter. Clearstead Advisors LLC grew its holdings in StepStone Group by 127.8% during the third quarter. Clearstead Advisors LLC now owns 581 shares of the company’s stock worth $38,000 after purchasing an additional 326 shares during the period. Darwin Wealth Management LLC acquired a new position in StepStone Group during the second quarter worth approximately $46,000. Finally, Nisa Investment Advisors LLC increased its position in StepStone Group by 35.5% during the third quarter. Nisa Investment Advisors LLC now owns 916 shares of the company’s stock worth $60,000 after buying an additional 240 shares during the last quarter. Institutional investors and hedge funds own 55.54% of the company’s stock.

About StepStone Group

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.