JPMorgan Chase & Co. Purchases 10,129 Shares of CION Investment Co. (NYSE:CION)

JPMorgan Chase & Co. grew its position in CION Investment Co. (NYSE:CION) by 108.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,488 shares of the company’s stock after acquiring an additional 10,129 shares during the period. JPMorgan Chase & Co.’s holdings in CION Investment were worth $232,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of CION. Quantbot Technologies LP acquired a new stake in CION Investment during the 3rd quarter worth approximately $104,000. Focused Wealth Management Inc acquired a new stake in shares of CION Investment during the third quarter worth $120,000. Virtu Financial LLC bought a new stake in shares of CION Investment in the third quarter valued at about $127,000. Legacy Investment Solutions LLC acquired a new position in shares of CION Investment in the third quarter valued at about $124,000. Finally, Marshall Wace LLP bought a new position in CION Investment during the second quarter worth about $164,000. 32.01% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Wells Fargo & Company reduced their price target on CION Investment from $12.00 to $11.50 and set an “equal weight” rating on the stock in a research report on Tuesday, October 29th. Oppenheimer began coverage on CION Investment in a report on Tuesday, October 8th. They set a “market perform” rating and a $13.00 target price on the stock.

CION Investment Trading Up 1.6 %

Shares of CION Investment stock opened at $11.74 on Friday. The company has a market cap of $625.58 million, a PE ratio of 7.99 and a beta of 1.13. The company has a 50 day moving average of $11.48 and a 200-day moving average of $11.76. CION Investment Co. has a 1-year low of $10.52 and a 1-year high of $12.69.

CION Investment (NYSE:CION) last released its earnings results on Thursday, November 7th. The company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.02. The firm had revenue of $59.63 million during the quarter, compared to analysts’ expectations of $57.75 million. CION Investment had a return on equity of 11.49% and a net margin of 31.21%. During the same period in the prior year, the company earned $0.55 earnings per share. Research analysts forecast that CION Investment Co. will post 1.78 earnings per share for the current year.

CION Investment Announces Dividend

The business also recently declared an annual dividend, which was paid on Monday, January 27th. Stockholders of record on Monday, December 30th were paid a $0.05 dividend. The ex-dividend date was Monday, December 30th. This represents a dividend yield of 0.43%. CION Investment’s payout ratio is 97.96%.

CION Investment 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.