StepStone Group Inc. (STEP) To Go Ex-Dividend on August 31st

StepStone Group Inc. (NASDAQ:STEP) announced a quarterly dividend on Tuesday, August 4th. Investors of record on Monday, August 31st will be paid a dividend of 0.33 per share on Tuesday, September 15th. This represents a c) annualized dividend and a dividend yield of 2.6%. The ex-dividend date is Monday, August 31st. This is a 17.9% increase from StepStone Group’s previous quarterly dividend of $0.28.

StepStone Group has raised its dividend payment by an average of 0.8%per year over the last three years and has raised its dividend annually for the last 3 consecutive years. StepStone Group has a dividend payout ratio of 56.7% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect StepStone Group to earn $3.56 per share next year, which means the company should continue to be able to cover its $1.32 annual dividend with an expected future payout ratio of 37.1%.

StepStone Group Stock Up 0.2%

STEP stock opened at $50.32 on Friday. StepStone Group has a fifty-two week low of $38.85 and a fifty-two week high of $77.79. The business’s 50-day moving average is $45.21 and its two-hundred day moving average is $48.18. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.19 and a current ratio of 0.19. The company has a market cap of $6.01 billion, a price-to-earnings ratio of -6.52 and a beta of 1.27.

StepStone Group (NASDAQ:STEP) last announced its earnings results on Thursday, August 6th. The company reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.02). StepStone Group had a positive return on equity of 43.38% and a negative net margin of 30.53%.The firm had revenue of $300.60 million during the quarter, compared to analysts’ expectations of $309.32 million. As a group, analysts forecast that StepStone Group will post 2.53 earnings per share for the current year.

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.