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

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

Other analysts have also issued reports about the company. JPMorgan Chase & Co. boosted their price target on StepStone Group from $56.00 to $61.00 and gave the company an “overweight” rating in a report on Tuesday, October 1st. UBS Group increased their price target on StepStone Group from $55.00 to $65.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. Barclays boosted their price objective on StepStone Group from $51.00 to $61.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. Evercore ISI increased their price objective on StepStone Group from $52.00 to $55.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Finally, Morgan Stanley increased their price objective on StepStone Group from $60.00 to $65.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 14th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $64.36.

StepStone Group Stock Up 1.6 %

NASDAQ:STEP opened at $66.27 on Tuesday. StepStone Group has a 12-month low of $25.06 and a 12-month high of $70.38. The firm has a market capitalization of $7.63 billion, a P/E ratio of 110.44 and a beta of 1.27. The stock’s fifty day simple moving average is $60.55 and its 200-day simple moving average is $51.30.

StepStone Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.96 annualized dividend and a yield of 1.45%. StepStone Group’s payout ratio is 160.00%.

Insider Buying and Selling

In other StepStone Group news, 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 transaction, the chief accounting officer now owns 2,158 shares of the company’s stock, valued at approximately $148,578.30. The trade was a 25.25 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO David Y. Park sold 3,000 shares of the business’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $68.21, for a total value of $204,630.00. Following the sale, the chief financial officer now owns 20,251 shares of the company’s stock, valued at approximately $1,381,320.71. This represents a 12.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 18.44% of the stock is owned by insiders.

Institutional Investors Weigh In On StepStone Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. American International Group Inc. increased its stake in StepStone Group by 1.2% during the first quarter. American International Group Inc. now owns 27,152 shares of the company’s stock worth $970,000 after acquiring an additional 322 shares during the last quarter. GAMMA Investing LLC increased its stake in StepStone Group by 291.1% in the 3rd quarter. GAMMA Investing LLC now owns 618 shares of the company’s stock worth $35,000 after buying an additional 460 shares during the period. KBC Group NV raised its stake in shares of StepStone Group by 35.7% during the third quarter. KBC Group NV now owns 1,840 shares of the company’s stock valued at $105,000 after acquiring an additional 484 shares in the last quarter. CWM LLC raised its position in StepStone Group by 190.4% during the 3rd quarter. CWM LLC now owns 1,185 shares of the company’s stock valued at $67,000 after purchasing an additional 777 shares in the last quarter. Finally, US Bancorp DE lifted its stake in StepStone Group by 442.7% in the third quarter. US Bancorp DE now owns 966 shares of the company’s stock worth $55,000 after acquiring an additional 788 shares during the period. 55.54% of the stock is owned by hedge funds and other institutional investors.

About StepStone Group

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.