Raymond James Trust N.A. Sells 2,499 Shares of FLEX LNG Ltd. (NYSE:FLNG)

Raymond James Trust N.A. cut its stake in FLEX LNG Ltd. (NYSE:FLNG) by 14.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,032 shares of the company’s stock after selling 2,499 shares during the period. Raymond James Trust N.A.’s holdings in FLEX LNG were worth $382,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in FLEX LNG by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 1,241,810 shares of the company’s stock worth $31,579,000 after acquiring an additional 21,793 shares in the last quarter. Renaissance Technologies LLC grew its stake in FLEX LNG by 6.8% in the second quarter. Renaissance Technologies LLC now owns 400,200 shares of the company’s stock worth $10,821,000 after purchasing an additional 25,600 shares in the last quarter. Gilman Hill Asset Management LLC increased its holdings in FLEX LNG by 1.4% during the 2nd quarter. Gilman Hill Asset Management LLC now owns 290,908 shares of the company’s stock worth $7,866,000 after purchasing an additional 4,041 shares during the period. Hosking Partners LLP raised its position in FLEX LNG by 42.0% during the 2nd quarter. Hosking Partners LLP now owns 287,625 shares of the company’s stock valued at $7,777,000 after purchasing an additional 85,040 shares in the last quarter. Finally, Denali Advisors LLC lifted its holdings in shares of FLEX LNG by 96.5% in the 2nd quarter. Denali Advisors LLC now owns 158,400 shares of the company’s stock worth $4,283,000 after buying an additional 77,800 shares during the period.

Analyst Ratings Changes

Separately, Jefferies Financial Group reiterated a “hold” rating and set a $24.00 target price on shares of FLEX LNG in a report on Tuesday, November 12th.

FLEX LNG Price Performance

Shares of NYSE:FLNG opened at $25.75 on Wednesday. The company has a current ratio of 2.21, a quick ratio of 2.18 and a debt-to-equity ratio of 1.97. FLEX LNG Ltd. has a 12-month low of $22.80 and a 12-month high of $31.41. The business’s fifty day simple moving average is $25.44 and its 200-day simple moving average is $26.50.

FLEX LNG Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Wednesday, November 27th will be issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 11.65%. The ex-dividend date is Wednesday, November 27th. FLEX LNG’s dividend payout ratio is currently 176.47%.

About FLEX LNG

Flex LNG Ltd., together with its subsidiaries, engages in the seaborne transportation of liquefied natural gas (LNG) worldwide. The company owns and operates vessels with M-type electronically controlled gas injection LNG carriers; and vessels with generation X dual fuel propulsion systems. Flex LNG Ltd.