Kingswood Wealth Advisors LLC Invests $333,000 in CION Investment Co. (NYSE:CION)

Kingswood Wealth Advisors LLC purchased a new stake in CION Investment Co. (NYSE:CION) during the 4th quarter, Holdings Channel.com reports. The fund purchased 29,198 shares of the company’s stock, valued at approximately $333,000.

Several other institutional investors have also modified their holdings of the stock. Strong Tower Advisory Services boosted its position in shares of CION Investment by 5.0% in the 4th quarter. Strong Tower Advisory Services now owns 205,941 shares of the company’s stock valued at $2,348,000 after purchasing an additional 9,742 shares during the period. Arkadios Wealth Advisors boosted its holdings in shares of CION Investment by 2.2% in the fourth quarter. Arkadios Wealth Advisors now owns 292,964 shares of the company’s stock valued at $3,340,000 after acquiring an additional 6,275 shares during the period. Hennion & Walsh Asset Management Inc. boosted its holdings in shares of CION Investment by 14.1% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 504,411 shares of the company’s stock valued at $5,750,000 after acquiring an additional 62,365 shares during the period. Winthrop Advisory Group LLC purchased a new position in shares of CION Investment during the fourth quarter worth approximately $195,000. Finally, JPMorgan Chase & Co. increased its holdings in shares of CION Investment by 108.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 19,488 shares of the company’s stock valued at $232,000 after acquiring an additional 10,129 shares during the period. Hedge funds and other institutional investors own 32.01% of the company’s stock.

CION Investment Stock Performance

Shares of CION Investment stock opened at $11.74 on Friday. The company has a market cap of $625.58 million, a P/E ratio of 7.99 and a beta of 1.13. The firm has a fifty day moving average of $11.48 and a two-hundred day moving average of $11.76. CION Investment Co. has a one year low of $10.52 and a one year high of $12.69.

CION Investment (NYSE:CION) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.02. The company had revenue of $59.63 million for the quarter, compared to analyst estimates of $57.75 million. CION Investment had a return on equity of 11.49% and a net margin of 31.21%. During the same quarter in the previous year, the company earned $0.55 EPS. As a group, equities analysts predict that CION Investment Co. will post 1.78 earnings per share for the current year.

CION Investment Announces Dividend

The firm also recently announced an annual dividend, which was paid on Monday, January 27th. Shareholders of record on Monday, December 30th were issued a $0.05 dividend. This represents a yield of 0.43%. The ex-dividend date was Monday, December 30th. CION Investment’s dividend payout ratio (DPR) is currently 97.96%.

Analysts Set New Price Targets

CION has been the topic of several research reports. Oppenheimer initiated coverage on shares of CION Investment in a research report on Tuesday, October 8th. They set a “market perform” rating and a $13.00 price objective on the stock. Wells Fargo & Company dropped 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.

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.