StepStone Group (NASDAQ:STEP) Given New $31.00 Price Target at Morgan Stanley

StepStone Group (NASDAQ:STEPGet Rating) had its price target boosted by Morgan Stanley from $30.00 to $31.00 in a research report sent to investors on Tuesday morning, Benzinga reports. The firm currently has an equal weight rating on the stock.

Separately, Barclays cut their price target on shares of StepStone Group from $29.00 to $28.00 and set an equal weight rating on the stock in a research report on Monday, December 19th. Three analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of Hold and an average price target of $34.10.

StepStone Group Trading Down 0.7 %

StepStone Group stock opened at $28.28 on Tuesday. StepStone Group has a 1 year low of $22.39 and a 1 year high of $41.19. The company has a market cap of $3.08 billion, a PE ratio of 33.12, a PEG ratio of 2.29 and a beta of 1.40. The company’s 50-day moving average is $27.97 and its two-hundred day moving average is $27.56.

StepStone Group (NASDAQ:STEPGet Rating) last released its earnings results on Thursday, November 3rd. The company reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.05. The business had revenue of $150.60 million for the quarter, compared to analyst estimates of $139.71 million. Research analysts forecast that StepStone Group will post 1.3 EPS for the current year.

StepStone Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, December 15th. Investors of record on Wednesday, November 30th were given a $0.20 dividend. The ex-dividend date was Tuesday, November 29th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.83%. StepStone Group’s dividend payout ratio is 93.02%.

Insider Activity at StepStone Group

In other StepStone Group news, CAO David Y. Park sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 15th. The shares were sold at an average price of $27.40, for a total transaction of $82,200.00. Following the sale, the chief accounting officer now directly owns 27,231 shares in the company, valued at approximately $746,129.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other StepStone Group news, major shareholder James Lim sold 436,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 10th. The shares were sold at an average price of $30.18, for a total transaction of $13,158,480.00. Following the sale, the insider now directly owns 6,913,886 shares in the company, valued at approximately $208,661,079.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO David Y. Park sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 15th. The stock was sold at an average price of $27.40, for a total transaction of $82,200.00. Following the sale, the chief accounting officer now owns 27,231 shares in the company, valued at $746,129.40. The disclosure for this sale can be found here. Insiders have sold 469,612 shares of company stock worth $14,148,577 in the last ninety days. Company insiders own 20.01% of the company’s stock.

Hedge Funds Weigh In On StepStone Group

Several hedge funds have recently made changes to their positions in STEP. Bank of New York Mellon Corp grew its stake in shares of StepStone Group by 9.3% during the 1st 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. grew its stake 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’s stock worth $250,000 after acquiring an additional 1,332 shares in the last quarter. Natixis Advisors L.P. bought a new position in shares of StepStone Group during the 1st quarter worth approximately $615,000. MetLife Investment Management LLC grew its stake in shares of StepStone Group by 70.9% during the 1st 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 position in shares of StepStone Group during the 1st quarter worth approximately $838,000. 93.82% of the stock is owned by institutional investors.

StepStone Group Company Profile

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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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