StepStone Group Inc - (STEP) Declares $0.21 Dividend

StepStone Group Inc - said on August 3, 2023 that its board of directors declared a regular quarterly dividend of $0.21 per share ($0.84 annualized). Previously, the company paid $0.20 per share.

Shares must be purchased before the ex-div date of August 30, 2023 to qualify for the dividend. Shareholders of record as of August 31, 2023 will receive the payment on September 15, 2023.

At the current share price of $29.58 / share, the stock's dividend yield is 2.84%.

Looking back five years and taking a sample every week, the average dividend yield has been 2.22%, the lowest has been 0.58%, and the highest has been 5.32%. The standard deviation of yields is 1.12 (n=132).

The current dividend yield is 0.55 standard deviations above the historical average.

Additionally, the company's dividend payout ratio is 5.65. 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's 3-Year dividend growth rate is -0.36%.

What is the Fund Sentiment?

There are 338 funds or institutions reporting positions in StepStone Group Inc -. This is an increase of 12 owner(s) or 3.68% in the last quarter. Average portfolio weight of all funds dedicated to STEP is 0.13%, a decrease of 17.87%. Total shares owned by institutions increased in the last three months by 1.42% to 61,561K shares. The put/call ratio of STEP is 0.70, indicating a bullish outlook.

Analyst Price Forecast Suggests 8.28% Downside

As of August 2, 2023, the average one-year price target for StepStone Group Inc - is 27.13. The forecasts range from a low of 24.24 to a high of $30.45. The average price target represents a decrease of 8.28% from its latest reported closing price of 29.58.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for StepStone Group Inc - is 706MM, an increase of 276.21%. 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 increased its portfolio allocation in STEP by 9.08% 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.

VEXPX - VANGUARD EXPLORER FUND Investor Shares holds 3,161K shares representing 5.03% ownership of the company. In it's prior filing, the firm reported owning 2,731K shares, representing an increase of 13.62%. The firm decreased its portfolio allocation in STEP by 8.84% 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.

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.

Additional reading:

• STEPSTONE GROUP REPORTS FIRST QUARTER FISCAL YEAR 2024 RESULTS
• StepStone Investor Day JUNE 6, 2023 2STEPSTONE GROUP Disclaimer Some of the statements in this presentation may constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exc
• Conformed Credit Agreement dated as of September 20, 2021 as amended by Amendment No. 1 to Credit Agreement, dated as of April 19, 2023, by and among StepStone Group LP, JPMorgan Chase Bank, N.A., as administrative agent and collateral agent and certain other lenders party thereto
• List of Subsidiaries
• STEPSTONE GROUP REPORTS FOURTH QUARTER AND FISCAL YEAR 2023 RESULTS

This story originally appeared on Fintel.