StepStone Group (NASDAQ:STEP) Price Target Raised to $70.50 at The Goldman Sachs Group

StepStone Group (NASDAQ:STEP) had its price target hoisted by The Goldman Sachs Group from $64.00 to $70.50 in a research report released on Tuesday,Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the stock.

A number of other brokerages have also recently commented on STEP. Evercore ISI raised their target price on StepStone Group from $52.00 to $55.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Oppenheimer lifted their price objective on StepStone Group from $56.00 to $73.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Barclays increased their target price on shares of StepStone Group from $51.00 to $61.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. UBS Group lifted their price target on shares of StepStone Group from $55.00 to $65.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Finally, JPMorgan Chase & Co. increased their price objective on shares of StepStone Group from $56.00 to $61.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 1st. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $64.36.

StepStone Group Trading Up 0.8 %

Shares of STEP stock opened at $65.30 on Tuesday. The company has a 50 day simple moving average of $59.99 and a two-hundred day simple moving average of $51.10. The stock has a market cap of $7.52 billion, a P/E ratio of 108.83 and a beta of 1.27. StepStone Group has a 12 month low of $25.06 and a 12 month high of $70.38.

StepStone Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date is Friday, November 29th. StepStone Group’s dividend payout ratio (DPR) is currently 160.00%.

Insider Activity

In other news, CFO David Y. Park sold 3,000 shares of StepStone Group stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $68.21, for a total value of $204,630.00. Following the sale, the chief financial officer now directly owns 20,251 shares of the company’s stock, valued at approximately $1,381,320.71. The trade was a 12.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Anthony Keathley sold 729 shares of the business’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $68.85, for a total value of $50,191.65. Following the completion of the sale, the chief accounting officer now owns 2,158 shares in the company, valued at $148,578.30. This represents a 25.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 18.44% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. GAMMA Investing LLC raised its stake in StepStone Group by 291.1% during the third quarter. GAMMA Investing LLC now owns 618 shares of the company’s stock valued at $35,000 after purchasing an additional 460 shares in the last quarter. Blue Trust Inc. raised its position in shares of StepStone Group by 1,586.3% during the 3rd quarter. Blue Trust Inc. now owns 860 shares of the company’s stock valued at $49,000 after buying an additional 809 shares in the last quarter. US Bancorp DE lifted its holdings in shares of StepStone Group by 442.7% in the 3rd quarter. US Bancorp DE now owns 966 shares of the company’s stock valued at $55,000 after acquiring an additional 788 shares during the last quarter. Harvest Fund Management Co. Ltd purchased a new position in StepStone Group in the third quarter worth about $63,000. Finally, CWM LLC increased its stake in StepStone Group by 190.4% during the third quarter. CWM LLC now owns 1,185 shares of the company’s stock worth $67,000 after acquiring an additional 777 shares during the last quarter. 55.54% of the stock is owned by hedge funds and other institutional investors.

StepStone Group Company Profile

StepStone Group Inc is a private equity and venture capital firm specializing in direct, fund of funds, secondary direct, and secondary indirect investments. For direct investment, it seeks to invest in private debt, venture debt, incubation, mezzanine, distressed/vulture, seed/startup, early venture, mid venture, late venture, emerging growth, later stage, turnaround, growth capital, industry consolidation, recapitalization, buyout investments in mature and middle market companies.