StepStone Group Inc. (NASDAQ:STEP) plans quarterly dividend of $0.20


StepStone Group Inc. (NASDAQ:STEP – Get Rating) declared a quarterly dividend on Thursday, August 4, Zacks reports. Shareholders of record on Wednesday August 31 will receive a dividend of 0.20 per share on Thursday September 15. This represents an annualized dividend of $0.80 and a dividend yield of 2.86%. The ex-dividend date is Tuesday, August 30.

StepStone Group has a dividend payout ratio of 49.4%, which means its dividend is sufficiently covered by earnings. Research analysts expect StepStone Group to earn $1.52 per share next year, meaning the company should continue to be able to cover its annual dividend of $0.80 with a ratio of expected future payout of 52.6%.

StepStone Group stock down 2.4%

Shares of STEP traded down $0.68 during the midday session on Friday, hitting $27.97. 426,538 shares of the company were traded, against an average volume of 337,718. StepStone Group has a 1-year low of $22.39 and a 1-year high of $55.19. The company has a 50-day moving average of $26.42 and a 200-day moving average of $29.32. The company has a market capitalization of $3.03 billion, a PE ratio of 10.03 and a beta of 1.37.

StepStone Group (NASDAQ:STEP – Get Rating) last released its quarterly results on Thursday, May 26. The company reported earnings per share of $0.38 for the quarter, missing the consensus estimate of $0.41 per ($0.03). StepStone Group achieved a return on equity of 10.02% and a net margin of 14.20%. The company posted revenue of $145.11 million in the quarter, versus analyst estimates of $164.36 million. In the same quarter last year, the company posted EPS of $0.25. StepStone Group’s quarterly revenue increased by 43.3% compared to the same quarter last year. As a group, research analysts expect StepStone Group to post EPS of 1.11 for the current fiscal year.

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Several brokerages have recently weighed in on STEP. JPMorgan Chase & Co. cut its price target on StepStone Group shares from $42.00 to $38.00 in a Friday, June 10 report. TheStreet downgraded shares of StepStone Group from a “c-” rating to a “d+” rating in a Friday, April 29 report. Goldman Sachs Group lowered its price target on the StepStone Group from $35.00 to $31.50 and set a “neutral” rating on the stock in a Wednesday, June 29 research report. Finally, Morgan Stanley downgraded StepStone Group from an “overweight” rating to an “equal weight” rating and lowered its price target for the stock from $46.00 to $30.00 in a Tuesday research report. July 19. Three equity research analysts gave the stock a hold rating and one gave the stock a buy rating. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $36.88.

Institutional investors weigh in on StepStone Group

Several hedge funds have recently bought and sold shares of the stock. Point72 Hong Kong Ltd bought a new position in shares of StepStone Group during Q1 worth around $36,000. PNC Financial Services Group Inc. increased its position in shares of StepStone Group by 21.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 7,535 shares of the company valued at $250,000 after purchasing an additional 1,332 shares last quarter. Sei Investments Co. increased its position in shares of StepStone Group by 30.6% during the 1st quarter. Sei Investments Co. now owns 14,661 shares of the company valued at $485,000 after purchasing an additional 3,432 shares last quarter. Engineers Gate Manager LP increased its position in shares of StepStone Group by 33.3% during the 1st quarter. Engineers Gate Manager LP now owns 14,942 shares of the company valued at $494,000 after purchasing an additional 3,735 shares last quarter. Finally, Dynamic Technology Lab Private Ltd increased its position in StepStone Group shares by 119.0% during the 1st quarter. Dynamic Technology Lab Private Ltd now owns 18,500 shares in the company valued at $612,000 after purchasing an additional 10,051 shares in the last quarter. Hedge funds and other institutional investors hold 95.74% of the company’s shares.

About StepStone Group

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StepStone Group Inc is an investment company specializing in direct, fund of funds, secondary direct and secondary indirect investments. For direct investing, it seeks to invest in venture capital debt, incubation, mezzanine, distress/vulture, seed/startup, early venture, midstream venture, late venture , emerging growth, later stage, turnaround, growth capital, industry consolidation, recapitalization and buyout investments in mature and intermediate companies.

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Dividend history for StepStone Group (NASDAQ:STEP)

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