Northern Trust Corp Boosts Stock Position in FLEX LNG Ltd. (NYSE:FLNG)

Northern Trust Corp increased its holdings in FLEX LNG Ltd. (NYSE:FLNG - Free Report) by 6.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 227,977 shares of the company's stock after buying an additional 14,528 shares during the period. Northern Trust Corp owned 0.42% of FLEX LNG worth $5,230,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of FLNG. Arkadios Wealth Advisors boosted its position in shares of FLEX LNG by 70.4% during the 4th quarter. Arkadios Wealth Advisors now owns 14,398 shares of the company's stock valued at $330,000 after acquiring an additional 5,948 shares during the last quarter. Dakota Wealth Management lifted its position in FLEX LNG by 7.1% during the fourth quarter. Dakota Wealth Management now owns 24,441 shares of the company's stock valued at $561,000 after purchasing an additional 1,611 shares during the last quarter. WFA Asset Management Corp grew its stake in FLEX LNG by 106.8% in the 4th quarter. WFA Asset Management Corp now owns 2,068 shares of the company's stock worth $47,000 after buying an additional 1,068 shares in the last quarter. Financial Life Planners bought a new position in shares of FLEX LNG in the 4th quarter worth $29,000. Finally, Apollon Wealth Management LLC lifted its holdings in shares of FLEX LNG by 6.3% during the 4th quarter. Apollon Wealth Management LLC now owns 10,052 shares of the company's stock worth $231,000 after acquiring an additional 600 shares during the last quarter.

FLEX LNG Stock Up 1.2%

FLNG traded up $0.26 during trading on Monday, reaching $22.88. The stock had a trading volume of 414,656 shares, compared to its average volume of 364,891. FLEX LNG Ltd. has a one year low of $19.46 and a one year high of $29.80. The stock's 50 day moving average is $22.99 and its two-hundred day moving average is $23.55. The company has a market capitalization of $1.23 billion, a price-to-earnings ratio of 10.50 and a beta of 0.45. The company has a current ratio of 2.99, a quick ratio of 2.96 and a debt-to-equity ratio of 2.11.

FLEX LNG (NYSE:FLNG - Get Free Report) last issued its earnings results on Wednesday, May 21st. The company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.04. The firm had revenue of $88.40 million for the quarter, compared to the consensus estimate of $87.70 million. FLEX LNG had a net margin of 33.03% and a return on equity of 15.61%. As a group, analysts expect that FLEX LNG Ltd. will post 1.9 earnings per share for the current year.

FLEX LNG Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, June 6th will be given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 13.11%. The ex-dividend date is Friday, June 6th. FLEX LNG's payout ratio is currently 157.07%.

Wall Street Analysts Forecast Growth

FLNG has been the subject of a number of recent research reports. Jefferies Financial Group restated a "hold" rating and issued a $23.00 target price on shares of FLEX LNG in a research report on Tuesday, February 4th. Fearnley Fonds raised shares of FLEX LNG to a "hold" rating in a research note on Monday, February 17th. Finally, Wall Street Zen raised shares of FLEX LNG from a "sell" rating to a "hold" rating in a research note on Saturday.

About FLEX LNG

FLEX LNG Ltd. engages in the seaborne transportation of liquefied natural gas (LPG) through the ownership and operation of LNG carriers. The company was founded by Philip Eystein Fjeld, Trym Tveitnes and Jostein Ueland in September 2006 and is headquartered in Hamilton, Bermuda.