StepStone Group (NASDAQ:STEP) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of StepStone Group (NASDAQ:STEP) from a sell rating to a hold rating in a research note released on Saturday,Wall Street Zen reports.

A number of other equities analysts have also weighed in on STEP. Weiss Ratings restated a “sell (d-)” rating on shares of StepStone Group in a report on Friday, October 16th. Wells Fargo & Company started coverage on StepStone Group in a research note on Friday, October 2nd. They set an “overweight” rating and a $55.00 target price on the stock. Oppenheimer reduced their target price on StepStone Group from $90.00 to $88.00 and set an “outperform” rating for the company in a report on Thursday, August 27th. BMO Capital Markets decreased their price target on StepStone Group from $58.00 to $48.00 and set an “outperform” rating for the company in a research note on Tuesday, October 27th. Finally, Evercore reaffirmed an “outperform” rating and set a $56.00 price target on shares of StepStone Group in a report on Friday, August 7th. Eight investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, StepStone Group presently has an average rating of “Moderate Buy” and a consensus price target of $66.78.

StepStone Group Stock Up 3.5%

NASDAQ:STEP opened at $49.12 on Friday. The firm has a market cap of $5.86 billion, a P/E ratio of -12.50 and a beta of 1.28. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.19 and a current ratio of 0.19. StepStone Group has a fifty-two week low of $38.85 and a fifty-two week high of $77.79. The firm has a 50-day simple moving average of $45.60 and a two-hundred day simple moving average of $48.77.

StepStone Group (NASDAQ:STEP) last issued its earnings results on Thursday, November 5th. The company reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.11. StepStone Group had a negative net margin of 30.53% and a positive return on equity of 43.38%. The firm had revenue of $362.71 million for the quarter, compared to the consensus estimate of $324.84 million. Analysts predict that StepStone Group will post 2.51 earnings per share for the current fiscal year.

StepStone Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Monday, November 30th will be paid a dividend of $0.33 per share. The ex-dividend date is Monday, November 30th. This represents a $1.32 dividend on an annualized basis and a yield of 2.7%. StepStone Group’s payout ratio is currently -33.59%.

Hedge Funds Weigh In On StepStone Group

A number of institutional investors and hedge funds have recently modified their holdings of STEP. Hsbc Holdings PLC purchased a new stake in shares of StepStone Group during the 1st quarter valued at about $3,898,000. Tidal Investments LLC lifted its stake in shares of StepStone Group by 11.8% in the 2nd quarter. Tidal Investments LLC now owns 314,523 shares of the company’s stock worth $13,009,000 after purchasing an additional 33,210 shares during the period. Advent International L.P. bought a new position in shares of StepStone Group in the 1st quarter worth approximately $5,733,000. Engle Capital Management L.P. boosted its holdings in shares of StepStone Group by 82.5% in the first quarter. Engle Capital Management L.P. now owns 237,216 shares of the company’s stock worth $11,320,000 after buying an additional 107,216 shares during the last quarter. Finally, Lazard Asset Management LLC boosted its holdings in shares of StepStone Group by 95.6% in the first quarter. Lazard Asset Management LLC now owns 332,328 shares of the company’s stock worth $15,859,000 after buying an additional 162,467 shares during the last quarter. 55.54% of the stock is currently owned by hedge funds and other institutional investors.

StepStone Group Company Profile

StepStone Group Inc is a global investment firm focused on private markets. The company helps institutional and other investors build and manage portfolios across private equity, private debt, infrastructure, and real estate.

Its services include selecting and monitoring investments in private-market funds, making direct investments in companies and assets, and advising clients on portfolio strategy. StepStone also provides investment research and data services to support its work.

Founded in 2007, StepStone serves clients including pension funds, sovereign wealth funds, insurance companies, endowments, foundations, and family offices.