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

StepStone Group LP (NASDAQ:STEP - Get Free Report) announced a quarterly dividend on Thursday, November 7th,Zacks Dividends reports. Stockholders 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 annualized dividend and a dividend yield of 1.41%. The ex-dividend date of this dividend is Friday, November 29th.

StepStone Group has a dividend payout ratio of 43.0% meaning its dividend is sufficiently covered by earnings. Equities 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

NASDAQ:STEP traded up $3.18 during mid-day trading on Friday, reaching $68.03. The stock had a trading volume of 895,664 shares, compared to its average volume of 570,225. StepStone Group has a twelve month low of $25.06 and a twelve month high of $68.70. The business has a 50 day simple moving average of $58.20 and a 200 day simple moving average of $49.44. The firm has a market capitalization of $7.53 billion, a price-to-earnings ratio of 89.51 and a beta of 1.27.

StepStone Group (NASDAQ:STEP - Get Free Report) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.13. The business had revenue of $186.40 million during the quarter, compared to analysts' expectations of $181.15 million. During the same period last year, the company earned $0.26 EPS. The firm's revenue for the quarter was up 4.7% on a year-over-year basis. As a group, sell-side analysts expect that StepStone Group will post 1.85 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have issued reports on STEP shares. Evercore ISI boosted their price objective on shares of StepStone Group from $52.00 to $55.00 and gave the stock an "outperform" rating in a research note on Monday, October 14th. UBS Group upped their target price 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. Morgan Stanley lifted their price objective on shares of StepStone Group from $52.00 to $60.00 and gave the stock an "equal weight" rating in a report on Thursday, October 10th. Barclays lifted their price target on shares of StepStone Group from $51.00 to $61.00 and gave the company an "equal weight" rating in a report on Monday, October 7th. Finally, Oppenheimer increased their price objective on shares of StepStone Group from $56.00 to $73.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 16th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $61.71.

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.