StepStone Group Inc. (STEP) to Issue Quarterly Dividend of $0.28 on June 30th

StepStone Group Inc. (NASDAQ:STEP) declared a quarterly dividend on Wednesday, May 20th. Investors of record on Monday, June 15th will be given a dividend of 0.28 per share on Tuesday, June 30th. This represents a c) annualized dividend and a dividend yield of 2.0%. The ex-dividend date is Monday, June 15th.

StepStone Group has a dividend payout ratio of 48.1% indicating that its dividend is sufficiently covered by earnings. Analysts expect StepStone Group to earn $3.43 per share next year, which means the company should continue to be able to cover its $1.12 annual dividend with an expected future payout ratio of 32.7%.

StepStone Group Price Performance

NASDAQ STEP opened at $54.74 on Friday. The stock’s fifty day moving average price is $50.46 and its 200 day moving average price is $58.15. StepStone Group has a 1 year low of $40.58 and a 1 year high of $77.79. The company has a market cap of $6.52 billion, a price-to-earnings ratio of -8.05 and a beta of 1.34.

StepStone Group (NASDAQ:STEP) last released its earnings results on Wednesday, May 20th. The company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.06. StepStone Group had a positive return on equity of 37.49% and a negative net margin of 26.88%.The firm had revenue of $305.84 million for the quarter, compared to the consensus estimate of $292.11 million. During the same period in the prior year, the firm earned $0.68 EPS. The firm’s revenue was up 3.4% on a year-over-year basis. Research analysts expect that StepStone Group will post 2.6 earnings per share for the current year.

StepStone Group announced that its Board of Directors has authorized a stock repurchase program on Monday, March 9th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase up to 1.8% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

About StepStone Group

StepStone Group is a global private markets investment firm that provides specialized investment solutions across private equity, private credit and real assets. The firm offers customized portfolios, secondary interests, direct co-investments and tailored advisory services to institutional investors worldwide. StepStone’s integrated research and data analytics platform supports its investment teams in sourcing opportunities and monitoring portfolio companies.

Founded in 2007 as an independent private markets specialist, the company has grown its presence through both organic expansion and strategic partnerships.