StepStone Group LP (STEP) to Issue Quarterly Dividend of $0.24 on December 13th

StepStone Group LP (NASDAQ:STEP) announced a quarterly dividend on Tuesday, November 5th,Zacks Dividends reports. Investors 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 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date of this dividend is Friday, November 29th.

StepStone Group has a dividend payout ratio of 43.8% meaning its dividend is sufficiently covered by earnings. Equities research 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 Trading Up 0.1 %

Shares of STEP stock opened at $66.73 on Wednesday. The stock has a 50 day simple moving average of $61.37 and a 200-day simple moving average of $52.10. The company has a market cap of $7.68 billion, a price-to-earnings ratio of 111.22 and a beta of 1.27. StepStone Group has a 12-month low of $25.06 and a 12-month high of $70.38.

Insider Activity at StepStone Group

In other StepStone Group news, CAO Anthony Keathley sold 729 shares of StepStone Group stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $68.85, for a total value of $50,191.65. Following the completion of the transaction, the chief accounting officer now owns 2,158 shares of the company’s stock, valued at $148,578.30. The trade was a 25.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO David Y. Park sold 3,000 shares of the stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $68.21, for a total transaction of $204,630.00. Following the sale, the chief financial officer now directly owns 20,251 shares in the company, valued at $1,381,320.71. This trade represents a 12.90 % 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 company insiders.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. JPMorgan Chase & Co. upped their price target on StepStone Group from $56.00 to $61.00 and gave the stock an “overweight” rating in a report on Tuesday, October 1st. UBS Group increased their price target on shares of StepStone Group from $55.00 to $65.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. Morgan Stanley boosted 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. Evercore ISI lifted their price objective on StepStone Group from $52.00 to $55.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Finally, Barclays increased their target price on StepStone Group from $51.00 to $61.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $64.36.

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.