StepStone Group Inc. (NASDAQ:STEP) Declares $0.28 Quarterly Dividend

StepStone Group Inc. (NASDAQ:STEP) announced a quarterly dividend on Wednesday, May 20th. Investors of record on Monday, June 15th will be given a dividend of 0.28 per share on Tuesday, June 30th. This represents a c) dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date is Monday, June 15th.

StepStone Group has a payout ratio of 48.1% meaning its dividend is sufficiently covered by earnings. Analysts expect StepStone Group to earn $2.60 per share next year, which means the company should continue to be able to cover its $1.12 annual dividend with an expected future payout ratio of 43.1%.

StepStone Group Price Performance

STEP opened at $52.00 on Thursday. The stock has a market cap of $6.20 billion, a P/E ratio of -7.49 and a beta of 1.34. The stock’s 50 day simple moving average is $50.30 and its 200 day simple moving average is $58.20. StepStone Group has a 1-year low of $40.58 and a 1-year high of $77.79.

StepStone Group (NASDAQ:STEP) last released its quarterly earnings results on Wednesday, May 20th. The company reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.06. The business had revenue of $305.84 million for the quarter, compared to analysts’ expectations of $292.11 million. StepStone Group had a positive return on equity of 31.44% and a negative net margin of 30.66%.The company’s revenue was up 3.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.68 EPS. Research analysts expect that StepStone Group will post 2.1 EPS for the current fiscal year.

StepStone Group announced that its Board of Directors has approved a share repurchase plan on Monday, March 9th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 1.8% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its shares are undervalued.

About StepStone Group

StepStone Group is a global private markets investment firm that provides specialized investment solutions across private equity, private credit and real assets. The firm offers customized portfolios, secondary interests, direct co-investments and tailored advisory services to institutional investors worldwide. StepStone’s integrated research and data analytics platform supports its investment teams in sourcing opportunities and monitoring portfolio companies.

Founded in 2007 as an independent private markets specialist, the company has grown its presence through both organic expansion and strategic partnerships.