Evercore ISI Cuts StepStone Group (NASDAQ:STEP) Price Target to $63.00

StepStone Group (NASDAQ:STEP) had its target price trimmed by Evercore ISI from $71.00 to $63.00 in a research note released on Friday morning,Benzinga reports. The firm currently has an outperform rating on the stock.

Several other equities research analysts have also recently issued reports on STEP. Morgan Stanley lifted their target price on shares of StepStone Group from $60.00 to $65.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 14th. The Goldman Sachs Group upped their price objective on shares of StepStone Group from $64.00 to $70.50 and gave the company a “neutral” rating in a research note on Tuesday, November 19th. JPMorgan Chase & Co. raised their target price 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. Oppenheimer upped their target price on StepStone Group from $73.00 to $84.00 and gave the company an “outperform” rating in a report on Thursday, December 12th. Finally, UBS Group lifted their price target on StepStone Group from $55.00 to $65.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, StepStone Group currently has a consensus rating of “Hold” and a consensus price target of $67.79.

StepStone Group Trading Up 0.8 %

NASDAQ:STEP opened at $61.57 on Friday. The stock has a 50 day moving average of $62.05 and a two-hundred day moving average of $56.90. StepStone Group has a 12 month low of $31.49 and a 12 month high of $70.38. The firm has a market cap of $7.09 billion, a P/E ratio of 102.62 and a beta of 1.31.

StepStone Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were issued a $0.24 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.96 annualized dividend and a yield of 1.56%. StepStone Group’s dividend payout ratio (DPR) is currently 160.00%.

Insider Buying and Selling at StepStone Group

In related news, CFO David Y. Park sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $68.21, for a total transaction of $204,630.00. Following the completion of the transaction, the chief financial officer now directly owns 20,251 shares in the company, valued at $1,381,320.71. This trade represents a 12.90 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 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 transaction of $50,191.65. Following the sale, the chief accounting officer now owns 2,158 shares in the company, valued at $148,578.30. This trade represents a 25.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 29,820 shares of company stock valued at $1,908,856 over the last 90 days. 18.44% of the stock is owned by insiders.

Institutional Investors Weigh In On StepStone Group

Several large investors have recently added to or reduced their stakes in STEP. State Street Corp increased its holdings in StepStone Group by 12.4% during the 3rd quarter. State Street Corp now owns 2,401,034 shares of the company’s stock worth $136,451,000 after purchasing an additional 265,240 shares during the period. Geode Capital Management LLC increased its stake in shares of StepStone Group by 17.4% during the third quarter. Geode Capital Management LLC now owns 1,457,690 shares of the company’s stock worth $82,856,000 after buying an additional 216,029 shares during the period. FMR LLC raised its holdings in StepStone Group by 3.7% in the third quarter. FMR LLC now owns 3,999,819 shares of the company’s stock valued at $227,310,000 after acquiring an additional 141,637 shares in the last quarter. Principal Financial Group Inc. lifted its stake in StepStone Group by 43.3% in the third quarter. Principal Financial Group Inc. now owns 417,845 shares of the company’s stock worth $23,746,000 after acquiring an additional 126,315 shares during the last quarter. Finally, Public Sector Pension Investment Board acquired a new position in StepStone Group during the 2nd quarter worth approximately $5,254,000. 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.