StepStone Group (NASDAQ:STEP) Hits New 1-Year High - What's Next?

StepStone Group LP (NASDAQ:STEP - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $70.46 and last traded at $70.46, with a volume of 564 shares. The stock had previously closed at $68.03.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on STEP shares. Evercore ISI lifted their price objective on StepStone Group from $52.00 to $55.00 and gave the company an "outperform" rating in a report on Monday, October 14th. Oppenheimer boosted their price target on shares of StepStone Group from $56.00 to $73.00 and gave the company an "outperform" rating in a research report on Wednesday, October 16th. The Goldman Sachs Group upped their price objective on shares of StepStone Group from $51.50 to $57.00 and gave the stock a "neutral" rating in a research note on Monday, September 30th. JPMorgan Chase & Co. lifted 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. Finally, UBS Group increased their price target on StepStone Group from $55.00 to $65.00 and gave the stock a "neutral" rating in a research report on Tuesday, October 22nd. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $61.71.

StepStone Group Price Performance

The firm has a 50 day moving average price of $58.20 and a 200-day moving average price of $49.63. The firm has a market cap of $7.67 billion, a price-to-earnings ratio of 113.38 and a beta of 1.27.

StepStone Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 1.38%. The ex-dividend date of this dividend is Friday, November 29th. StepStone Group's dividend payout ratio (DPR) is presently 160.00%.

Institutional Trading of StepStone Group

Institutional investors have recently bought and sold shares of the business. Bank of New York Mellon Corp boosted its position in shares of StepStone Group by 25.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,115,384 shares of the company's stock worth $51,185,000 after purchasing an additional 225,201 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in StepStone Group by 150.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 850,463 shares of the company's stock worth $30,396,000 after buying an additional 510,283 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of StepStone Group by 8.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 800,909 shares of the company's stock worth $36,753,000 after buying an additional 60,339 shares during the period. William Blair Investment Management LLC grew its position in shares of StepStone Group by 1.0% during the 1st quarter. William Blair Investment Management LLC now owns 608,829 shares of the company's stock worth $21,760,000 after buying an additional 6,052 shares during the period. Finally, Principal Financial Group Inc. increased its stake in shares of StepStone Group by 43.3% in 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. Institutional investors and hedge funds own 55.54% of the company's stock.

StepStone Group Company Profile

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.