NEW YORK, May 09, 2024 (GLOBE NEWSWIRE) -- StepStone Group Inc. (NASDAQ:STEP) today announced that the Company will release its results for the fourth quarter and fiscal year ended March 31, 2024, after the market closes on Thursday, May 23, 2024. Webcast and Earnings Conference Call Management will host a webcast and conference call on Thursday, May 23, 2024, at 5:00 pm ET to discuss the Company's results for the fourth quarter and fiscal year ended March 31, 2024. The webcast will be made available on the ...

StepStone Group Inc. (STEP) shares rallied 5.8% in the last trading session to close at $37. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 3.7% gain over the past four weeks.StepStone's stock experienced a price rise following a rating upgrade from Neutral to Overweight by JPMorgan, along with a revised price target of $49.00, up from $40.00. Better fundraising prospects and improved Fee-Paying Assets Under ...

StepStone Group Inc. (STEP) could be a solid choice for investors given its recent upgrade to a Zacks Rank #1 (Strong Buy). This upgrade primarily reflects an upward trend in earnings estimates, which is one of the most powerful forces impacting stock prices.A company's changing earnings picture is at the core of the Zacks rating. The system tracks the Zacks Consensus Estimate -- the consensus measure of EPS estimates from the sell-side analysts covering the stock -- for the current and following years.Indi ...

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Financial Data and Key Metrics Changes - The company reported a GAAP net loss of $23.4 million, with a net loss attributable to StepStone Group Incorporated of $20.2 million or $0.32 per share [82] - Fee-related earnings (FRE) increased by 19% year-over-year to $50.7 million, with an FRE margin of 33% [83][121] - Adjusted net income for the quarter was $42.1 million or $0.37 per share, up from $31.2 million or $0.27 per share in the same quarter last year [84] Business Line Data and Key Metrics Changes - Management and advisory fees rose by 18% year-over-year to $152 million, driven by growth in fee-earning AUM and $8.6 million in retroactive fees [120] - Gross realized performance fees were $33 million for the quarter, up $14 million from last year and $26 million from the prior quarter [2] - The company generated gross inflows of $6 billion in the quarter, with $4.3 billion coming from separately managed accounts (SMAs) [87] Market Data and Key Metrics Changes - The pool of performance fee eligible capital grew to over $70 billion, diversified across multiple vintage years in over 200 programs [8] - The company experienced $1.7 billion in distributions, including a significant distribution of approximately $1 billion from its infrastructure managed account [106] Company Strategy and Development Direction - The company announced agreements to acquire the remaining stakes in its infrastructure, private debt, and real estate businesses over the coming years, aiming for full ownership [86][96] - The strategy includes a gradual buy-in of non-controlling interests, structured to incentivize teams to grow their asset classes while maintaining alignment of interests [116][118] - The company aims to double fee-related earnings by fiscal 2028, leveraging a combination of separately managed accounts, commingled funds, and private wealth offerings [93] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about fundraising momentum, noting strong client relationships and a robust pipeline for future fundraising [88] - The company anticipates continued growth in FRE margins due to operating leverage and strategic cost-saving opportunities [112] - Management highlighted a positive sentiment among limited partners (LPs) regarding private markets, driven by recent public market recoveries [67] Other Important Information - The company sold its non-core subsidiary, Greenspring Back Office Solutions, which is expected to increase fee-related earnings by $2 million annually [114] - The company has launched new products, including the StepStone Private Credit Income Fund (CredEx), focusing on U.S. direct lending and specialty credit [92] Q&A Session Summary Question: Can you clarify the total asset pool migrating into fee-paying AUM over time? - Management indicated that the migration is largely driven by $21 billion of undeployed fee-earning capital, with a deployment period of three to five years [15] Question: What is the cadence of the buyout of the non-controlling interests? - The buyout will occur at a rate of one-tenth per year over the next five years, with potential acceleration after that period [16][17] Question: Can you elaborate on the incentive fee dynamics? - Incentive fees are generally tied to programs that crystallize annually, with expectations for modest fees in the upcoming quarters, particularly in the second and third fiscal quarters [22] Question: How does the minority buy-in impact the FRA margin profile over time? - Management expects margin expansion through operating leverage and efficiencies, but does not anticipate significant changes in margins directly from the buy-in [45] Question: What is the outlook for commingled fundraises? - The company is in the late stages of fundraising for several key funds, with positive sentiment from LPs and a strong pipeline for future fundraising [68]

○ STEPSTONE Third Quarter Fiscal Year 2024 Earnings Presentation STEPSTONE GROUP 2 CEO Scott Hart Jason Ment President & Co-COO GAAP Consolidated Statements of Income (Loss) Fiscal Q3 2024 overview Business Update STEPSTONE GROUP 5 Overview Insight Powerful data that drives better decisions Flexibility Offerings and expertise to design fully custom solutions Reach True global presence, deep local knowledge Opportunity The capital and relationships that unlock growth Growth drivers $510 billion STEPSTONE GRO ...

StepStone Group Inc. (STEP) came out with quarterly earnings of $0.37 per share, beating the Zacks Consensus Estimate of $0.25 per share. This compares to earnings of $0.27 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 48%. A quarter ago, it was expected that this company would post earnings of $0.28 per share when it actually produced earnings of $0.26, delivering a surprise of -7.14%.Over the last four quarters, the compan ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended December 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______________________ to ___________________________ Commission file number 001-39510 Securities registered pursuant to Section 12(b) of the Act: | | Trading | | | ...

The market expects StepStone Group Inc. (STEP) to deliver a year-over-year decline in earnings on lower revenues when it reports results for the quarter ended December 2023. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates.The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be ...

NEW YORK, Feb. 01, 2024 (GLOBE NEWSWIRE) -- StepStone Group Inc. (NASDAQ:STEP), a global private markets investment firm focused on providing customized investment solutions and advisory and data services, has named 8 new partners and 18 new managing directors. Partner and CEO Scott Hart said, "We are proud to celebrate these senior leaders of our firm, each of whom exemplify StepStone's commitment to helping our clients build and manage exceptional private markets portfolios. Congratulations to all." 2024 ...