Jennison Associates LLC Invests $1.46 Million in FLEX LNG Ltd. (NYSE:FLNG)

Jennison Associates LLC bought a new stake in FLEX LNG Ltd. (NYSE:FLNG) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 57,406 shares of the company’s stock, valued at approximately $1,460,000.

A number of other large investors have also added to or reduced their stakes in the company. Optimum Investment Advisors boosted its holdings in shares of FLEX LNG by 5.6% in the 2nd quarter. Optimum Investment Advisors now owns 9,395 shares of the company’s stock worth $254,000 after purchasing an additional 500 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of FLEX LNG by 6.3% in the second quarter. The Manufacturers Life Insurance Company now owns 10,935 shares of the company’s stock worth $296,000 after purchasing an additional 652 shares during the last quarter. Squarepoint Ops LLC increased its stake in shares of FLEX LNG by 7.7% in the second quarter. Squarepoint Ops LLC now owns 11,326 shares of the company’s stock worth $306,000 after buying an additional 806 shares during the period. Beck Capital Management LLC raised its holdings in FLEX LNG by 0.8% during the 2nd quarter. Beck Capital Management LLC now owns 111,308 shares of the company’s stock valued at $3,010,000 after buying an additional 911 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in FLEX LNG by 13.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,541 shares of the company’s stock valued at $218,000 after buying an additional 993 shares during the period.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group reaffirmed a “hold” rating and set a $24.00 price objective on shares of FLEX LNG in a research note on Tuesday, November 12th.

FLEX LNG Stock Performance

FLNG opened at $26.34 on Friday. The company has a current ratio of 2.21, a quick ratio of 2.18 and a debt-to-equity ratio of 1.97. The stock has a fifty day simple moving average of $25.46 and a two-hundred day simple moving average of $26.54. FLEX LNG Ltd. has a 12-month low of $22.80 and a 12-month high of $31.78.

FLEX LNG Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Wednesday, November 27th will be given a dividend of $0.75 per share. The ex-dividend date is Wednesday, November 27th. This represents a $3.00 dividend on an annualized basis and a yield of 11.39%. FLEX LNG’s dividend payout ratio (DPR) is currently 176.47%.

FLEX LNG Company Profile

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.