Raymond James Financial Inc. Makes New Investment in CION Investment Co. (NYSE:CION)

Raymond James Financial Inc. acquired a new stake in CION Investment Co. (NYSE:CION - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 150,088 shares of the company's stock, valued at approximately $1,711,000. Raymond James Financial Inc. owned approximately 0.28% of CION Investment at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of CION. Founders Financial Alliance LLC boosted its position in CION Investment by 5.3% during the 4th quarter. Founders Financial Alliance LLC now owns 21,769 shares of the company's stock worth $248,000 after purchasing an additional 1,086 shares during the period. Concurrent Investment Advisors LLC lifted its stake in shares of CION Investment by 2.6% in the fourth quarter. Concurrent Investment Advisors LLC now owns 42,822 shares of the company's stock worth $488,000 after acquiring an additional 1,093 shares in the last quarter. Endowment Wealth Management Inc. boosted its holdings in CION Investment by 2.6% in the fourth quarter. Endowment Wealth Management Inc. now owns 59,852 shares of the company's stock valued at $682,000 after purchasing an additional 1,522 shares during the last quarter. O Shaughnessy Asset Management LLC grew its stake in CION Investment by 15.0% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 24,621 shares of the company's stock valued at $281,000 after purchasing an additional 3,205 shares in the last quarter. Finally, HighTower Advisors LLC increased its holdings in CION Investment by 16.4% during the 4th quarter. HighTower Advisors LLC now owns 22,956 shares of the company's stock worth $262,000 after purchasing an additional 3,236 shares during the last quarter. Hedge funds and other institutional investors own 32.01% of the company's stock.

CION Investment Stock Down 1.7 %

Shares of NYSE CION opened at $9.76 on Friday. The stock's 50 day moving average price is $10.56 and its two-hundred day moving average price is $11.26. CION Investment Co. has a 52-week low of $8.51 and a 52-week high of $12.71. The stock has a market capitalization of $517.28 million, a P/E ratio of 6.64 and a beta of 1.17.

CION Investment (NYSE:CION - Get Free Report) last announced its quarterly earnings results on Thursday, March 13th. The company reported $0.35 earnings per share for the quarter, missing analysts' consensus estimates of $0.36 by ($0.01). The company had revenue of $87.91 million for the quarter, compared to analyst estimates of $54.11 million. CION Investment had a return on equity of 11.49% and a net margin of 31.21%. On average, analysts anticipate that CION Investment Co. will post 1.78 EPS for the current year.

CION Investment Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Friday, March 28th were issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 14.76%. The ex-dividend date was Friday, March 28th. CION Investment's dividend payout ratio (DPR) is 228.57%.

Wall Street Analysts Forecast Growth

Separately, Wells Fargo & Company decreased their price target on shares of CION Investment from $10.00 to $9.00 and set an "underweight" rating for the company in a research report on Monday.

CION Investment Company Profile

CION Investment Corporation is a business development company. It specializes in investments in senior secured loans, including unitranche loans, First Lien, second lien loans, long-term subordinated loans, and mezzanine loans; equity interests such as warrants or options; and corporate bonds; and other debt securities in middle-market companies.

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