CION Investment Co. (NYSE:CION) Shares Purchased by Franklin Resources Inc.

Franklin Resources Inc. lifted its position in CION Investment Co. (NYSE:CION - Free Report) by 14.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 409,661 shares of the company's stock after purchasing an additional 50,705 shares during the period. Franklin Resources Inc. owned 0.77% of CION Investment worth $4,670,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Golden State Wealth Management LLC purchased a new stake in CION Investment during the fourth quarter valued at approximately $96,000. GWN Securities Inc. purchased a new position in CION Investment during the fourth quarter valued at approximately $124,000. Virtu Financial LLC acquired a new position in shares of CION Investment in the 3rd quarter valued at $127,000. Entropy Technologies LP acquired a new stake in shares of CION Investment during the 4th quarter valued at about $138,000. Finally, Jane Street Group LLC acquired a new position in shares of CION Investment during the 3rd quarter worth approximately $161,000. 32.01% of the stock is currently owned by institutional investors.

CION Investment Stock Down 0.7 %

NYSE:CION traded down $0.07 on Wednesday, reaching $9.28. 38,338 shares of the company's stock were exchanged, compared to its average volume of 251,770. The firm has a market capitalization of $492.14 million, a price-to-earnings ratio of 6.31 and a beta of 1.17. CION Investment Co. has a 52-week low of $8.51 and a 52-week high of $12.71. The business has a fifty day moving average of $11.13 and a 200-day moving average of $11.43.

CION Investment (NYSE:CION - Get Free Report) last released its quarterly earnings data on Thursday, March 13th. The company reported $0.35 EPS for the quarter, missing analysts' consensus estimates 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 analysts' expectations of $54.11 million. As a group, equities analysts anticipate that CION Investment Co. will post 1.78 earnings per share for the current year.

CION Investment Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Friday, March 28th were given a dividend of $0.36 per share. The ex-dividend date of this dividend was Friday, March 28th. This represents a $1.44 dividend on an annualized basis and a yield of 15.52%. CION Investment's payout ratio is 228.57%.

Analysts Set New Price Targets

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

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.