StepStone Group (NASDAQ:STEP) Price Target Cut to $63.00 by Analysts at Evercore ISI

StepStone Group (NASDAQ:STEP) had its target price reduced by Evercore ISI from $71.00 to $63.00 in a research report report published on Friday morning,Benzinga reports. They currently have an outperform rating on the stock.

A number of other brokerages have also recently issued reports on STEP. Barclays reduced their target price on StepStone Group from $72.00 to $66.00 and set an “equal weight” rating on the stock in a report on Monday, December 9th. The Goldman Sachs Group lifted their price objective on shares of StepStone Group from $64.00 to $70.50 and gave the stock a “neutral” rating in a research note on Tuesday, November 19th. JPMorgan Chase & Co. upped their target price on shares of StepStone Group from $56.00 to $61.00 and gave the company an “overweight” rating in a research note on Tuesday, October 1st. UBS Group lifted their target price on StepStone Group from $55.00 to $65.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. Finally, Morgan Stanley upped their price target on shares of StepStone Group from $60.00 to $65.00 and gave the company an “equal weight” rating in a report on Thursday, November 14th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $67.79.

StepStone Group Stock Up 0.8 %

STEP stock opened at $61.57 on Friday. StepStone Group has a twelve month low of $31.49 and a twelve month high of $70.38. The business’s fifty day moving average is $62.18 and its 200-day moving average is $56.72. The company has a market cap of $7.09 billion, a P/E ratio of 102.62 and a beta of 1.31.

StepStone Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were issued a $0.24 dividend. The ex-dividend date was Friday, November 29th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.56%. StepStone Group’s dividend payout ratio (DPR) is currently 160.00%.

Insider Activity

In other news, CFO David Y. Park sold 3,000 shares of the company’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $68.21, for a total value of $204,630.00. Following the sale, the chief financial officer now directly owns 20,251 shares of the company’s stock, valued at approximately $1,381,320.71. This represents a 12.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Scott W. Hart sold 22,091 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $63.24, for a total value of $1,397,034.84. Following the sale, the chief executive officer now directly owns 157,909 shares of the company’s stock, valued at $9,986,165.16. This represents a 12.27 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 29,820 shares of company stock worth $1,908,856. Insiders own 18.44% of the company’s stock.

Hedge Funds Weigh In On StepStone Group

Several large investors have recently bought and sold shares of the stock. Barclays PLC grew its position in StepStone Group by 368.2% during the third quarter. Barclays PLC now owns 112,019 shares of the company’s stock valued at $6,366,000 after buying an additional 88,095 shares during the period. Amalgamated Bank lifted its holdings in shares of StepStone Group by 749.8% in the second quarter. Amalgamated Bank now owns 16,001 shares of the company’s stock worth $734,000 after buying an additional 14,118 shares in the last quarter. Public Sector Pension Investment Board bought a new position in StepStone Group in the 2nd quarter valued at $5,254,000. Geode Capital Management LLC boosted its stake in StepStone Group by 17.4% during the third quarter. Geode Capital Management LLC now owns 1,457,690 shares of the company’s stock valued at $82,856,000 after buying an additional 216,029 shares during the period. Finally, Principal Financial Group Inc. boosted its position in shares of StepStone Group by 43.3% during the 3rd quarter. Principal Financial Group Inc. now owns 417,845 shares of the company’s stock valued at $23,746,000 after acquiring an additional 126,315 shares during the last quarter. 55.54% of the stock is currently owned by institutional investors.

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.