150,088 Shares in CION Investment Co. (NYSE:CION) Bought by Raymond James Financial Inc.

Raymond James Financial Inc. bought a new position in CION Investment Co. (NYSE:CION) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 150,088 shares of the company’s stock, valued at approximately $1,711,000. Raymond James Financial Inc. owned 0.28% of CION Investment at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in CION. Concurrent Investment Advisors LLC raised its stake in shares of CION Investment by 2.6% during the 4th quarter. Concurrent Investment Advisors LLC now owns 42,822 shares of the company’s stock worth $488,000 after purchasing an additional 1,093 shares in the last quarter. Beck Capital Management LLC raised its holdings in shares of CION Investment by 6.5% in the 3rd quarter. Beck Capital Management LLC now owns 29,511 shares of the company’s stock valued at $351,000 after purchasing an additional 1,797 shares during the period. Townsquare Capital LLC lifted its stake in CION Investment by 7.0% in the 3rd quarter. Townsquare Capital LLC now owns 31,438 shares of the company’s stock valued at $374,000 after purchasing an additional 2,061 shares during the last quarter. Atria Wealth Solutions Inc. lifted its stake in CION Investment by 4.6% in the 4th quarter. Atria Wealth Solutions Inc. now owns 73,555 shares of the company’s stock valued at $839,000 after purchasing an additional 3,243 shares during the last quarter. Finally, Strategic Blueprint LLC lifted its stake in CION Investment by 26.0% in the 4th quarter. Strategic Blueprint LLC now owns 21,377 shares of the company’s stock valued at $244,000 after purchasing an additional 4,407 shares during the last quarter. Institutional investors own 32.01% of the company’s stock.

Analyst Ratings Changes

Separately, Wells Fargo & Company reaffirmed an “underweight” rating and set a $10.00 price target (down previously from $11.00) on shares of CION Investment in a report on Monday, March 17th.

CION Investment Trading Down 0.6 %

Shares of NYSE:CION opened at $10.39 on Tuesday. The firm has a 50 day moving average of $11.69 and a 200-day moving average of $11.66. CION Investment Co. has a 12 month low of $10.14 and a 12 month high of $12.71. The stock has a market capitalization of $550.69 million, a PE ratio of 7.06 and a beta of 1.11.

CION Investment (NYSE:CION) last issued its quarterly earnings results on Thursday, March 13th. The company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.01). CION Investment had a net margin of 31.21% and a return on equity of 11.49%. The business had revenue of $87.91 million during the quarter, compared to the consensus estimate of $54.11 million. On average, research analysts predict that CION Investment Co. will post 1.78 EPS for the current fiscal year.

CION Investment Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be given a dividend of $0.36 per share. The ex-dividend date is Friday, March 28th. This represents a $1.44 dividend on an annualized basis and a yield of 13.87%. CION Investment’s dividend payout ratio is currently 228.57%.

About CION Investment

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.