StepStone Group (NASDAQ:STEP) Stock Rating Raised to “Hold” at Wall Street Zen

Wall Street Zen upgraded shares of StepStone Group (NASDAQ:STEP) from a sell rating to a hold rating in a report published on Saturday,Wall Street Zen reports.

STEP has been the topic of a number of other reports. BMO Capital Markets cut their target price on shares of StepStone Group from $58.00 to $48.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 27th. UBS Group lifted their price target on shares of StepStone Group from $63.00 to $69.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. Evercore reiterated an “outperform” rating and set a $56.00 price target on shares of StepStone Group in a report on Friday, August 7th. Morgan Stanley set a $61.00 price target on shares of StepStone Group in a report on Friday, October 16th. Finally, Barclays increased their price objective on shares of StepStone Group from $62.00 to $65.00 and gave the company an “overweight” rating in a research report on Friday. Eight research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, StepStone Group currently has an average rating of “Moderate Buy” and a consensus target price of $66.78.

StepStone Group Stock Performance

NASDAQ:STEP opened at $47.45 on Friday. StepStone Group has a 52 week low of $38.85 and a 52 week high of $77.79. The company has a fifty day simple moving average of $45.63 and a two-hundred day simple moving average of $48.90. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 1.22. The company has a market cap of $5.66 billion, a price-to-earnings ratio of -12.07 and a beta of 1.28.

StepStone Group (NASDAQ:STEP) last issued its quarterly earnings results on Thursday, November 5th. The company reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.11. The company had revenue of $362.71 million for the quarter, compared to the consensus estimate of $324.84 million. StepStone Group had a positive return on equity of 43.86% and a negative net margin of 13.68%. As a group, equities analysts anticipate that StepStone Group will post 2.51 earnings per share for the current fiscal year.

StepStone Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Monday, November 30th will be given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend is Monday, November 30th. StepStone Group’s dividend payout ratio (DPR) is -17.10%.

Institutional Investors Weigh In On StepStone Group

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Ibex Wealth Advisors increased its position in shares of StepStone Group by 3.8% during the third quarter. Ibex Wealth Advisors now owns 126,365 shares of the company’s stock worth $5,484,000 after purchasing an additional 4,580 shares in the last quarter. William Blair Investment Management LLC lifted its holdings in shares of StepStone Group by 17.9% in the 3rd quarter. William Blair Investment Management LLC now owns 2,276,447 shares of the company’s stock valued at $98,798,000 after purchasing an additional 346,432 shares during the last quarter. Fifth Third Bancorp boosted its position in shares of StepStone Group by 6.1% in the 3rd quarter. Fifth Third Bancorp now owns 17,573 shares of the company’s stock valued at $763,000 after purchasing an additional 1,008 shares during the period. Maryland State Retirement & Pension System boosted its position in shares of StepStone Group by 70.0% in the 3rd quarter. Maryland State Retirement & Pension System now owns 18,338 shares of the company’s stock valued at $796,000 after purchasing an additional 7,554 shares during the period. Finally, Keybank National Association OH boosted its position in shares of StepStone Group by 14.2% in the 3rd quarter. Keybank National Association OH now owns 6,028 shares of the company’s stock valued at $262,000 after purchasing an additional 748 shares during the period. 55.54% of the stock is owned by hedge funds and other institutional investors.

Trending Headlines about StepStone Group

Here are the key news stories impacting StepStone Group this week:

• Positive Sentiment: StepStone reported quarterly EPS of $0.66, above the $0.55 consensus estimate, and revenue of $362.71 million versus estimates of $324.84 million. EPS also increased from $0.54 a year earlier, supporting the view that results were stronger than expected. Quarterly earnings results
• Positive Sentiment: Royal Bank of Canada raised its price target to $68 from $65 and reiterated an “outperform” rating. Barclays lifted its target to $65 from $62 and kept an “overweight” rating. The target increases signal improved analyst expectations for the shares. Royal Bank of Canada rating Barclays rating
• Neutral Sentiment: The company declared a quarterly dividend of $0.33 per share, payable December 15 to shareholders of record November 30. The annualized payout is $1.32 per share, a 2.8% yield at the cited share price; the dividend may appeal to income-focused investors but is not as direct a growth catalyst as the earnings beat.

About StepStone Group

StepStone Group, Inc is a global investment firm focused on private markets. The company provides investment solutions and advisory services to institutional investors, family offices, and other clients seeking exposure to privately held and alternative assets.

Its activities include investments in private equity, venture capital, private debt, infrastructure, and real estate. StepStone builds customized portfolios through primary investments in funds, secondary-market transactions, and direct investments in companies and assets.