StepStone Group Inc. (NASDAQ:STEP) Receives $62.57 Average Target Price from Analysts

Shares of StepStone Group Inc. (NASDAQ:STEP - Get Free Report) have been given a consensus recommendation of "Hold" by the seven brokerages that are covering the firm, Marketbeat Ratings reports. Four analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $62.57.

A number of research firms have recently issued reports on STEP. Morgan Stanley dropped their price target on StepStone Group from $66.00 to $51.00 and set an "equal weight" rating on the stock in a research note on Monday, April 14th. Oppenheimer set a $67.00 price target on StepStone Group and gave the stock an "outperform" rating in a research note on Wednesday, April 16th. Barclays set a $62.00 price target on StepStone Group and gave the stock an "equal weight" rating in a research note on Tuesday, May 27th. Finally, The Goldman Sachs Group lifted their target price on StepStone Group from $57.00 to $63.00 and gave the company a "neutral" rating in a research report on Wednesday, May 28th.

Insider Buying and Selling

In related news, insider Michael I. Mccabe sold 67,718 shares of the business's stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $56.54, for a total value of $3,828,775.72. Following the completion of the sale, the insider owned 423,864 shares in the company, valued at approximately $23,965,270.56. The trade was a 13.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jason P. Ment sold 55,608 shares of the business's stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $60.71, for a total value of $3,375,961.68. Following the completion of the sale, the insider owned 34,155 shares of the company's stock, valued at $2,073,550.05. The trade was a 61.95% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 406,144 shares of company stock worth $24,154,401. Corporate insiders own 18.44% of the company's stock.

Institutional Trading of StepStone Group

A number of hedge funds have recently bought and sold shares of the stock. Steward Partners Investment Advisory LLC purchased a new stake in shares of StepStone Group during the 4th quarter valued at $27,000. Versant Capital Management Inc purchased a new stake in shares of StepStone Group during the 1st quarter valued at $35,000. Amundi lifted its holdings in shares of StepStone Group by 26.7% during the 4th quarter. Amundi now owns 730 shares of the company's stock valued at $42,000 after purchasing an additional 154 shares during the last quarter. PNC Financial Services Group Inc. increased its position in shares of StepStone Group by 444.4% in the 4th quarter. PNC Financial Services Group Inc. now owns 969 shares of the company's stock valued at $56,000 after acquiring an additional 791 shares during the period. Finally, Neo Ivy Capital Management acquired a new position in shares of StepStone Group in the 4th quarter valued at $65,000. Hedge funds and other institutional investors own 55.54% of the company's stock.

StepStone Group Stock Up 0.4%

Shares of StepStone Group stock traded up $0.21 on Tuesday, reaching $58.39. The company's stock had a trading volume of 14,192 shares, compared to its average volume of 623,764. The company has a market capitalization of $6.80 billion, a price-to-earnings ratio of -24.46 and a beta of 1.36. StepStone Group has a 52 week low of $40.07 and a 52 week high of $70.38. The firm's fifty day simple moving average is $56.30 and its two-hundred day simple moving average is $56.25.

StepStone Group (NASDAQ:STEP - Get Free Report) last released its quarterly earnings results on Thursday, May 22nd. The company reported $0.68 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.44 by $0.24. The firm had revenue of $295.86 million for the quarter, compared to the consensus estimate of $231.87 million. StepStone Group had a positive return on equity of 15.21% and a negative net margin of 15.28%. The company's revenue for the quarter was up 66.8% on a year-over-year basis. During the same period last year, the business posted $0.33 EPS. As a group, research analysts predict that StepStone Group will post 1.82 EPS for the current year.

StepStone Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were given a $0.24 dividend. The ex-dividend date was Friday, June 13th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.64%. StepStone Group's dividend payout ratio is currently -40.17%.

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.