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

StepStone Group LP (NASDAQ:STEP) declared a quarterly dividend on Tuesday, November 5th,Zacks Dividends reports. Investors of record on Friday, November 29th will be given a dividend of 0.24 per share on Friday, December 13th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date of this dividend is Friday, November 29th.

StepStone Group has a dividend payout ratio of 43.8% meaning its dividend is sufficiently covered by earnings. Equities research 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 Performance

Shares of STEP stock opened at $66.04 on Thursday. The stock has a market cap of $7.61 billion, a PE ratio of 110.07 and a beta of 1.27. The business’s fifty day moving average is $61.58 and its 200-day moving average is $52.20. StepStone Group has a 1 year low of $25.06 and a 1 year high of $70.38.

Insider Buying and Selling

In other StepStone Group news, CAO Anthony Keathley sold 729 shares of the stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $68.85, for a total value of $50,191.65. Following the completion of the sale, the chief accounting officer now owns 2,158 shares in the company, valued at $148,578.30. This represents a 25.25 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO David Y. Park sold 3,000 shares of the business’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $68.21, for a total transaction of $204,630.00. Following the transaction, the chief financial officer now owns 20,251 shares in the company, valued at approximately $1,381,320.71. This represents a 12.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 18.44% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on STEP shares. Evercore ISI boosted 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. Oppenheimer increased their target price 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. The Goldman Sachs Group raised their target price on shares of StepStone Group from $64.00 to $70.50 and gave the stock a “neutral” rating in a report on Tuesday, November 19th. 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 research report on Tuesday, October 1st. Finally, Barclays boosted their target price on StepStone Group from $51.00 to $61.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $64.36.

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.