Shares of StepStone Group LP (NASDAQ:STEP – Get Free Report) have earned a consensus recommendation of “Hold” from the five analysts that are covering the stock, Marketbeat reports. Five investment analysts have rated the stock with a hold rating. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $28.30.
STEP has been the subject of several recent analyst reports. Morgan Stanley boosted their price objective on shares of StepStone Group from $28.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 24th. TheStreet raised shares of StepStone Group from a “c” rating to a “b-” rating in a research report on Monday, November 6th. Finally, Royal Bank of Canada raised their price objective on StepStone Group from $5.00 to $5.50 and gave the stock a “sector perform” rating in a report on Friday, November 3rd.
StepStone Group Stock Up 6.3 %
StepStone Group Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 15th. Investors of record on Thursday, February 29th will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date is Wednesday, February 28th. StepStone Group’s dividend payout ratio is currently 93.33%.
Hedge Funds Weigh In On StepStone Group
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp raised its stake in shares of StepStone Group by 9.3% during the first quarter. Bank of New York Mellon Corp now owns 204,536 shares of the company’s stock worth $6,762,000 after purchasing an additional 17,367 shares during the last quarter. PNC Financial Services Group Inc. raised its position in 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 buying an additional 1,332 shares during the last quarter. Natixis Advisors L.P. acquired a new stake in shares of StepStone Group in the 1st quarter worth $615,000. MetLife Investment Management LLC boosted 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 valued at $818,000 after acquiring an additional 10,257 shares in the last quarter. Finally, Panagora Asset Management Inc. acquired a new position in shares of StepStone Group during the first quarter worth about $838,000. Hedge funds and other institutional investors own 55.54% of the company’s stock.
About StepStone Group
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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