StepStone Group Inc - (STEP) Declares $0.20 Dividend
StepStone Group Inc - said on May 24, 2023 that its board of directors declared a regular quarterly dividend of $0.20 per share ($0.80 annualized). Previously, the company paid $0.20 per share.
Shares must be purchased before the ex-div date of June 14, 2023 to qualify for the dividend. Shareholders of record as of June 15, 2023 will receive the payment on June 30, 2023.
At the current share price of $21.14 / share, the stock's dividend yield is 3.78%.
Looking back five years and taking a sample every week, the average dividend yield has been 2.08%, the lowest has been 0.58%, and the highest has been 3.66%. The standard deviation of yields is 1.00 (n=124).
The current dividend yield is 1.70 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is -9.34. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company has not increased its dividend in the last three years.
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What is the Fund Sentiment?
There are 335 funds or institutions reporting positions in StepStone Group Inc -. This is an increase of 18 owner(s) or 5.68% in the last quarter. Average portfolio weight of all funds dedicated to STEP is 0.14%, a decrease of 13.58%. Total shares owned by institutions increased in the last three months by 0.85% to 61,363K shares. 
The put/call ratio of STEP is 0.82, indicating a bullish outlook.
Analyst Price Forecast Suggests 32.20% Upside
As of May 11, 2023, the average one-year price target for StepStone Group Inc - is 27.95. The forecasts range from a low of 24.24 to a high of $31.50. The average price target represents an increase of 32.20% from its latest reported closing price of 21.14.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for StepStone Group Inc - is 706MM, an increase of 465.95%. The projected annual non-GAAP EPS is 1.58.
What are Other Shareholders Doing?
Wellington Management Group Llp holds 5,496K shares representing 8.75% ownership of the company. In it's prior filing, the firm reported owning 4,800K shares, representing an increase of 12.67%. The firm decreased its portfolio allocation in STEP by 84.60% over the last quarter.
Jpmorgan Chase holds 4,297K shares representing 6.84% ownership of the company. In it's prior filing, the firm reported owning 4,082K shares, representing an increase of 5.02%. The firm decreased its portfolio allocation in STEP by 6.22% over the last quarter.
T. Rowe Price Investment Management holds 3,694K shares representing 5.88% ownership of the company. In it's prior filing, the firm reported owning 4,978K shares, representing a decrease of 34.77%. The firm decreased its portfolio allocation in STEP by 33.17% over the last quarter.
SMCWX - SMALLCAP WORLD FUND INC holds 3,039K shares representing 4.84% ownership of the company. No change in the last quarter.
Wasatch Advisors holds 2,873K shares representing 4.57% ownership of the company. In it's prior filing, the firm reported owning 2,890K shares, representing a decrease of 0.59%. The firm decreased its portfolio allocation in STEP by 11.37% over the last quarter.
StepStone Group Background Information
(This description is provided by the company.)
StepStone Group is a global private markets investment firm focused on providing customized investment solutions and advisory and data services to its clients. The Company partner with its clients to develop and build private markets portfolios designed to meet their specific objectives across private equity, infrastructure, private debt and real estate asset classes.
Key filings for this company:
This story originally appeared on Fintel.