StepStone Group (NASDAQ:STEP) Given New $46.00 Price Target at Morgan Stanley

StepStone Group (NASDAQ:STEPGet Rating) had its price objective trimmed by Morgan Stanley from $50.00 to $46.00 in a research report report published on Wednesday morning, Stock Target Advisor reports. The firm currently has an overweight rating on the stock.

A number of other analysts have also recently weighed in on the stock. Zacks Investment Research cut shares of StepStone Group from a hold rating to a sell rating in a report on Saturday. TheStreet cut shares of StepStone Group from a c- rating to a d+ rating in a research note on Friday, April 29th. One research analyst has rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of Hold and a consensus price target of $44.67.

NASDAQ STEP traded down $0.86 during trading hours on Wednesday, reaching $26.40. 962 shares of the company traded hands, compared to its average volume of 270,688. StepStone Group has a 12 month low of $22.39 and a 12 month high of $55.19. The stock has a market capitalization of $2.86 billion, a PE ratio of 6.56 and a beta of 1.77. The company has a 50 day moving average of $28.24 and a two-hundred day moving average of $34.47.

StepStone Group (NASDAQ:STEPGet Rating) last posted its quarterly earnings results on Thursday, May 26th. The company reported $0.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.02). StepStone Group had a return on equity of 12.03% and a net margin of 14.20%. The business had revenue of $145.11 million during the quarter, compared to the consensus estimate of $164.36 million. During the same quarter in the previous year, the business posted $0.25 earnings per share. The company’s quarterly revenue was up 43.3% compared to the same quarter last year. Analysts forecast that StepStone Group will post 1.4 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 30th. Shareholders of record on Wednesday, June 15th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 3.03%. This is a boost from StepStone Group’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Tuesday, June 14th. StepStone Group’s dividend payout ratio (DPR) is presently 14.89%.

Several hedge funds have recently bought and sold shares of STEP. Whittier Trust Co. of Nevada Inc. bought a new position in StepStone Group during the first quarter valued at approximately $25,000. Macquarie Group Ltd. bought a new position in shares of StepStone Group in the third quarter valued at approximately $32,000. Point72 Hong Kong Ltd bought a new position in shares of StepStone Group in the first quarter valued at approximately $36,000. Royal Bank of Canada raised its position in shares of StepStone Group by 53.5% in the second quarter. Royal Bank of Canada now owns 2,927 shares of the company’s stock valued at $101,000 after purchasing an additional 1,020 shares during the period. Finally, Whittier Trust Co. bought a new position in shares of StepStone Group in the first quarter valued at approximately $106,000. Institutional investors and hedge funds own 95.74% of the company’s stock.

StepStone Group Company Profile (Get Rating)

StepStone Group Inc 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, and buyout investments in mature and middle market companies.

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