StepStone Group LP (NASDAQ:STEP - Get Free Report) has been given an average rating of "Hold" by the seven brokerages that are covering the stock, MarketBeat.com reports. Four research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12-month target price among brokers that have covered the stock in the last year is $61.64.
Several analysts recently commented on STEP shares. Evercore ISI boosted their price target on StepStone Group from $63.00 to $69.00 and gave the stock an "outperform" rating in a research report on Monday, February 10th. Barclays lowered their price target on shares of StepStone Group from $69.00 to $48.00 and set an "equal weight" rating on the stock in a research report on Monday, April 7th. Oppenheimer set a $67.00 price target on StepStone Group and gave the company an "outperform" rating in a research report on Wednesday, April 16th. Finally, Morgan Stanley dropped their target price on StepStone Group from $66.00 to $51.00 and set an "equal weight" rating for the company in a report on Monday, April 14th.
View Our Latest Stock Analysis on StepStone Group
Insider Activity at StepStone Group
In related news, CEO Scott W. Hart sold 10,000 shares of StepStone Group stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $61.43, for a total transaction of $614,300.00. Following the sale, the chief executive officer now directly owns 110,000 shares in the company, valued at $6,757,300. This trade represents a 8.33 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Anthony Keathley sold 538 shares of the company's stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $63.00, for a total value of $33,894.00. Following the completion of the sale, the chief accounting officer now directly owns 1,386 shares of the company's stock, valued at approximately $87,318. This trade represents a 27.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 18.44% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On StepStone Group
Several hedge funds have recently modified their holdings of STEP. Price T Rowe Associates Inc. MD lifted its stake in shares of StepStone Group by 19.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,599,875 shares of the company's stock valued at $324,122,000 after purchasing an additional 895,521 shares during the period. Raymond James Financial Inc. purchased a new stake in StepStone Group during the fourth quarter worth $46,163,000. Massachusetts Financial Services Co. MA acquired a new stake in StepStone Group in the fourth quarter valued at $32,340,000. Ameriprise Financial Inc. increased its position in shares of StepStone Group by 353.2% in the fourth quarter. Ameriprise Financial Inc. now owns 661,799 shares of the company's stock valued at $38,305,000 after buying an additional 515,760 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of StepStone Group by 6.3% in the 4th quarter. Vanguard Group Inc. now owns 6,938,181 shares of the company's stock worth $401,582,000 after buying an additional 411,133 shares in the last quarter. 55.54% of the stock is owned by institutional investors and hedge funds.
StepStone Group Stock Performance
Shares of STEP stock traded down $0.19 on Thursday, reaching $50.04. 56,700 shares of the company were exchanged, compared to its average volume of 660,721. The company has a market cap of $5.80 billion, a price-to-earnings ratio of -29.56 and a beta of 1.36. StepStone Group has a 1 year low of $35.25 and a 1 year high of $70.38. The business has a 50-day moving average price of $51.87 and a 200 day moving average price of $58.55.
StepStone Group Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date was Friday, February 28th. StepStone Group's dividend payout ratio is currently -56.80%.
About StepStone Group
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Get Free ReportStepStone 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.
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