StepStone Group LP (NASDAQ:STEP) to Issue Quarterly Dividend of $0.21

StepStone Group LP (NASDAQ:STEPGet Free Report) declared a quarterly dividend on Thursday, February 8th, Zacks reports. Stockholders of record on Thursday, February 29th will be paid a dividend of 0.21 per share on Friday, March 15th. This represents a $0.84 annualized dividend and a dividend yield of 2.31%. The ex-dividend date of this dividend is Wednesday, February 28th.

StepStone Group has a dividend payout ratio of 42.2% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect StepStone Group to earn $1.50 per share next year, which means the company should continue to be able to cover its $0.84 annual dividend with an expected future payout ratio of 56.0%.

StepStone Group Stock Up 6.3 %

Shares of STEP opened at $36.41 on Friday. StepStone Group has a 12-month low of $19.83 and a 12-month high of $37.40. The firm has a market capitalization of $4.02 billion, a PE ratio of 40.46 and a beta of 1.27. The stock’s fifty day simple moving average is $31.31 and its 200-day simple moving average is $29.85.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Morgan Stanley upped their price target on StepStone Group from $28.00 to $35.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 24th. TheStreet upgraded StepStone Group from a “c” rating to a “b-” rating in a report on Monday, November 6th. Finally, Royal Bank of Canada upped their price objective on StepStone Group from $5.00 to $5.50 and gave the company a “sector perform” rating in a report on Friday, November 3rd. Five equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $28.30.

View Our Latest Report on StepStone Group

Institutional Investors Weigh In On StepStone Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp increased its holdings in shares of StepStone Group by 9.3% in the first quarter. Bank of New York Mellon Corp now owns 204,536 shares of the company’s stock worth $6,762,000 after acquiring an additional 17,367 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of StepStone Group by 21.5% in the first quarter. PNC Financial Services Group Inc. now owns 7,535 shares of the company’s stock worth $250,000 after acquiring an additional 1,332 shares in the last quarter. Natixis Advisors L.P. bought a new stake in shares of StepStone Group in the first quarter worth about $615,000. MetLife Investment Management LLC increased its holdings in shares of StepStone Group by 70.9% in the first quarter. MetLife Investment Management LLC now owns 24,734 shares of the company’s stock worth $818,000 after acquiring an additional 10,257 shares in the last quarter. Finally, Panagora Asset Management Inc. bought a new stake in shares of StepStone Group in the first quarter worth about $838,000. Institutional investors own 55.54% of the company’s stock.

StepStone Group Company Profile

(Get Free Report)

StepStone Group LP. is an investment firm specializing in direct, fund of funds, secondary direct, and secondary indirect investments. For direct investment, it seeks to invest in venture debt, incubation, mezzanine, distressed/vulture, seed/startup, early venture, mid venture, late venture, emerging growth, later stage, turnaround, growth capital, industry consolidation, recapitalization, private equity and buyout investments in mature and middle market companies.

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Dividend History for StepStone Group (NASDAQ:STEP)

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