StepStone Group (NASDAQ:STEP) CEO Scott Hart Sells 10,000 Shares

StepStone Group Inc. (NASDAQ:STEP) CEO Scott Hart sold 10,000 shares of the firm’s stock in a transaction dated Monday, January 26th. The shares were sold at an average price of $72.52, for a total transaction of $725,200.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

StepStone Group Trading Down 0.1%

Shares of STEP stock opened at $73.19 on Thursday. The stock has a 50 day simple moving average of $67.10 and a 200-day simple moving average of $63.82. The company has a market cap of $8.66 billion, a price-to-earnings ratio of -9.15 and a beta of 1.34. StepStone Group Inc. has a 12-month low of $40.07 and a 12-month high of $77.79.

StepStone Group (NASDAQ:STEP) last posted its quarterly earnings results on Thursday, November 6th. The company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.05. The firm had revenue of $282.34 million for the quarter, compared to the consensus estimate of $272.15 million. StepStone Group had a positive return on equity of 21.53% and a negative net margin of 40.06%.The company’s revenue for the quarter was up 35.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.45 earnings per share. On average, equities analysts forecast that StepStone Group Inc. will post 1.82 earnings per share for the current fiscal year.

StepStone Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Friday, November 28th were issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date was Friday, November 28th. StepStone Group’s dividend payout ratio (DPR) is currently -14.00%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Salomon & Ludwin LLC grew its holdings in StepStone Group by 105.0% during the 4th quarter. Salomon & Ludwin LLC now owns 414 shares of the company’s stock valued at $28,000 after buying an additional 212 shares during the last quarter. Aster Capital Management DIFC Ltd lifted its position in shares of StepStone Group by 2,285.7% in the third quarter. Aster Capital Management DIFC Ltd now owns 501 shares of the company’s stock valued at $33,000 after acquiring an additional 480 shares in the last quarter. Quarry LP boosted its stake in shares of StepStone Group by 155.7% during the third quarter. Quarry LP now owns 514 shares of the company’s stock valued at $34,000 after acquiring an additional 313 shares during the last quarter. Clearstead Advisors LLC increased its position in StepStone Group by 127.8% during the 3rd quarter. Clearstead Advisors LLC now owns 581 shares of the company’s stock worth $38,000 after purchasing an additional 326 shares in the last quarter. Finally, Darwin Wealth Management LLC purchased a new stake in StepStone Group during the 2nd quarter worth about $46,000. 55.54% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. BMO Capital Markets initiated coverage on shares of StepStone Group in a research report on Friday, October 3rd. They set an “outperform” rating and a $74.00 target price on the stock. Weiss Ratings reissued a “sell (d+)” rating on shares of StepStone Group in a research note on Thursday, January 22nd. JPMorgan Chase & Co. raised their price objective on StepStone Group from $73.00 to $84.00 and gave the company an “overweight” rating in a research note on Tuesday, November 4th. Zacks Research raised StepStone Group from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 8th. Finally, Oppenheimer reiterated an “outperform” rating and set a $105.00 target price on shares of StepStone Group in a research report on Tuesday, January 20th. Two equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $80.71.

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.