Invesco Ltd. Purchases Shares of 1,042,279 CION Investment Co. (NYSE:CION)

Invesco Ltd. acquired a new stake in shares of CION Investment Co. (NYSE:CION - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 1,042,279 shares of the company's stock, valued at approximately $11,882,000. Invesco Ltd. owned about 1.96% of CION Investment at the end of the most recent reporting period.

Several other large investors have also modified their holdings of CION. Jane Street Group LLC acquired a new stake in CION Investment during the 3rd quarter worth approximately $161,000. Virtu Financial LLC acquired a new position in CION Investment during the 3rd quarter worth $127,000. Franklin Resources Inc. increased its holdings in CION Investment by 13.6% in the third quarter. Franklin Resources Inc. now owns 358,956 shares of the company's stock valued at $4,261,000 after buying an additional 43,076 shares during the last quarter. JPMorgan Chase & Co. increased its stake in CION Investment by 108.2% during the third quarter. JPMorgan Chase & Co. now owns 19,488 shares of the company's stock valued at $232,000 after purchasing an additional 10,129 shares during the last quarter. Finally, Winthrop Advisory Group LLC acquired a new stake in CION Investment during the fourth quarter worth about $195,000. 32.01% of the stock is currently owned by hedge funds and other institutional investors.

CION Investment Stock Up 1.0 %

Shares of CION traded up $0.10 during trading hours on Friday, reaching $10.08. The company's stock had a trading volume of 173,136 shares, compared to its average volume of 253,470. CION Investment Co. has a 1-year low of $8.51 and a 1-year high of $12.71. The firm has a market cap of $534.51 million, a price-to-earnings ratio of 6.85 and a beta of 1.17. The company has a 50 day moving average of $10.80 and a two-hundred day moving average of $11.32.

CION Investment (NYSE:CION - Get Free Report) last posted its earnings results on Thursday, March 13th. The company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.01). The business 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%. As a group, analysts forecast that CION Investment Co. will post 1.78 EPS for the current fiscal year.

CION Investment Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Friday, March 28th were given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 14.29%. The ex-dividend date was Friday, March 28th. CION Investment's dividend payout ratio (DPR) is currently 228.57%.

Wall Street Analysts Forecast Growth

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

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.