StepStone Group LP (NASDAQ:STEP) to Issue $0.24 Quarterly Dividend

StepStone Group LP (NASDAQ:STEP) announced a quarterly dividend on Thursday, November 7th,Zacks Dividends reports. Shareholders of record on Friday, November 29th will be paid a dividend of 0.24 per share on Friday, December 13th. This represents a $0.96 annualized dividend and a yield of 1.41%. The ex-dividend date of this dividend is Friday, November 29th.

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

Shares of STEP opened at $68.03 on Friday. The firm’s 50 day moving average is $58.20 and its 200-day moving average is $49.44. StepStone Group has a 12-month low of $25.06 and a 12-month high of $68.70. The stock has a market capitalization of $7.53 billion, a P/E ratio of 89.51 and a beta of 1.27.

StepStone Group (NASDAQ:STEP) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.13. The business had revenue of $186.40 million during the quarter, compared to analyst estimates of $181.15 million. During the same quarter last year, the firm posted $0.26 EPS. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. As a group, equities research analysts forecast that StepStone Group will post 1.85 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently issued reports on STEP shares. JPMorgan Chase & Co. lifted their target price on StepStone Group from $56.00 to $61.00 and gave the stock an “overweight” rating in a report on Tuesday, October 1st. Oppenheimer lifted their price target on StepStone Group from $56.00 to $73.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. UBS Group raised their target price on shares of StepStone Group from $55.00 to $65.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. Morgan Stanley lifted their target price on shares of StepStone Group from $52.00 to $60.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 10th. Finally, Evercore ISI raised 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. Four equities 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.

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.