Analysts Set StepStone Group LP (NASDAQ:STEP) Target Price at $69.21

StepStone Group LP (NASDAQ:STEP) has earned a consensus recommendation of “Hold” from the seven brokerages that are presently covering the company, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $69.21.

A number of analysts recently weighed in on the stock. The Goldman Sachs Group increased their price objective on shares of StepStone Group from $64.00 to $70.50 and gave the stock a “neutral” rating in a report on Tuesday, November 19th. Evercore ISI raised their price target on shares of StepStone Group from $63.00 to $69.00 and gave the company an “outperform” rating in a research note on Monday, February 10th. Morgan Stanley lifted their price target on StepStone Group from $60.00 to $65.00 and gave the company an “equal weight” rating in a report on Thursday, November 14th. Oppenheimer increased their price objective on StepStone Group from $81.00 to $85.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Finally, Barclays lifted their target price on StepStone Group from $66.00 to $69.00 and gave the company an “equal weight” rating in a research note on Friday, February 7th.

StepStone Group Price Performance

Shares of NASDAQ STEP opened at $50.90 on Wednesday. The firm has a market capitalization of $5.90 billion, a PE ratio of -30.12 and a beta of 1.33. StepStone Group has a 1-year low of $32.58 and a 1-year high of $70.38. The business’s fifty day moving average price is $60.28 and its two-hundred day moving average price is $60.02.

StepStone Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be issued a dividend of $0.24 per share. The ex-dividend date is Friday, February 28th. This represents a $0.96 annualized dividend and a yield of 1.89%. StepStone Group’s payout ratio is -56.80%.

Insider Buying and Selling at StepStone Group

In other news, CAO Anthony Keathley sold 538 shares of the company’s stock in a transaction on Wednesday, February 19th. The stock was 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 owns 1,386 shares in the company, valued at $87,318. This represents a 27.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Scott W. Hart sold 10,000 shares of StepStone Group stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $61.43, for a total value of $614,300.00. Following the transaction, the chief executive officer now directly owns 110,000 shares in the company, valued at approximately $6,757,300. The trade was a 8.33 % 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 corporate insiders.

Institutional Trading of StepStone Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Steward Partners Investment Advisory LLC bought a new stake in StepStone Group during the fourth quarter worth approximately $27,000. Raleigh Capital Management Inc. acquired a new stake in shares of StepStone Group during the 4th quarter valued at $29,000. IFP Advisors Inc bought a new stake in shares of StepStone Group during the 4th quarter worth $36,000. Amundi grew its holdings in shares of StepStone Group by 26.7% in the 4th quarter. Amundi now owns 730 shares of the company’s stock worth $42,000 after acquiring an additional 154 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in shares of StepStone Group by 36.6% during the fourth quarter. GAMMA Investing LLC now owns 844 shares of the company’s stock worth $49,000 after purchasing an additional 226 shares during the period. 55.54% of the stock is currently owned by institutional investors.

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.