StepStone Group (NASDAQ:STEP) Price Target Raised to $70.50

StepStone Group (NASDAQ:STEP) had its price target increased by The Goldman Sachs Group from $64.00 to $70.50 in a report issued on Tuesday,Benzinga reports. The firm currently has a neutral rating on the stock.

A number of other analysts have also weighed in on STEP. Oppenheimer raised 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. JPMorgan Chase & Co. boosted their target price on shares of StepStone Group from $56.00 to $61.00 and gave the company an “overweight” rating in a research report on Tuesday, October 1st. Evercore ISI upped their price target on shares of StepStone Group from $52.00 to $55.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Barclays upped their target price on shares of StepStone Group from $51.00 to $61.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. Finally, UBS Group upped their price target on shares of StepStone Group from $55.00 to $65.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, StepStone Group presently has a consensus rating of “Hold” and a consensus target price of $64.36.

StepStone Group Trading Up 1.6 %

StepStone Group stock opened at $66.27 on Tuesday. The firm’s 50 day simple moving average is $60.55 and its 200 day simple moving average is $51.30. The firm has a market capitalization of $7.63 billion, a PE ratio of 110.44 and a beta of 1.27. StepStone Group has a 1-year low of $25.06 and a 1-year high of $70.38.

StepStone Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 1.45%. The ex-dividend date is Friday, November 29th. StepStone Group’s payout ratio is 160.00%.

Insider Buying and Selling at StepStone Group

In other news, CFO David Y. Park sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $68.21, for a total value of $204,630.00. Following the transaction, the chief financial officer now directly owns 20,251 shares in the company, valued at $1,381,320.71. This trade represents a 12.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Anthony Keathley sold 729 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $68.85, for a total value of $50,191.65. Following the sale, the chief accounting officer now owns 2,158 shares in the company, valued at approximately $148,578.30. The trade was a 25.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 18.44% of the stock is owned by corporate insiders.

Institutional Trading of StepStone Group

Several hedge funds have recently added to or reduced their stakes in STEP. GAMMA Investing LLC raised its position in StepStone Group by 291.1% during the third quarter. GAMMA Investing LLC now owns 618 shares of the company’s stock valued at $35,000 after buying an additional 460 shares during the period. Blue Trust Inc. boosted its stake in StepStone Group by 1,586.3% during the 3rd quarter. Blue Trust Inc. now owns 860 shares of the company’s stock valued at $49,000 after purchasing an additional 809 shares during the period. US Bancorp DE boosted its stake in StepStone Group by 442.7% during the 3rd quarter. US Bancorp DE now owns 966 shares of the company’s stock valued at $55,000 after purchasing an additional 788 shares during the period. Harvest Fund Management Co. Ltd bought a new stake in StepStone Group during the 3rd quarter valued at approximately $63,000. Finally, CWM LLC lifted its position in shares of StepStone Group by 190.4% in the 3rd quarter. CWM LLC now owns 1,185 shares of the company’s stock worth $67,000 after acquiring an additional 777 shares during the period. Institutional investors own 55.54% of the company’s stock.

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.