Assenagon Asset Management S.A. Takes $3.12 Million Position in Hafnia Limited (NYSE:HAFN)

Assenagon Asset Management S.A. purchased a new position in shares of Hafnia Limited (NYSE:HAFN) during the fourth quarter, HoldingsChannel reports. The firm purchased 583,813 shares of the company’s stock, valued at approximately $3,123,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in HAFN. DekaBank Deutsche Girozentrale raised its position in shares of Hafnia by 10.5% during the third quarter. DekaBank Deutsche Girozentrale now owns 3,056,334 shares of the company’s stock worth $21,350,000 after purchasing an additional 290,000 shares during the period. Barclays PLC lifted its stake in shares of Hafnia by 72.7% in the third quarter. Barclays PLC now owns 2,734,506 shares of the company’s stock valued at $19,580,000 after buying an additional 1,151,528 shares in the last quarter. Bank of Montreal Can acquired a new position in shares of Hafnia during the third quarter valued at about $3,774,000. Mirabella Financial Services LLP bought a new stake in shares of Hafnia during the third quarter worth about $3,175,000. Finally, Jane Street Group LLC raised its holdings in shares of Hafnia by 671.7% in the 3rd quarter. Jane Street Group LLC now owns 257,427 shares of the company’s stock worth $1,833,000 after acquiring an additional 224,070 shares during the last quarter.

Analysts Set New Price Targets

Separately, Jefferies Financial Group decreased their price objective on Hafnia from $8.00 to $6.50 and set a “buy” rating for the company in a report on Tuesday, December 17th.

Hafnia Price Performance

HAFN opened at $5.10 on Wednesday. The firm’s fifty day moving average price is $5.52 and its two-hundred day moving average price is $6.65. The company has a market capitalization of $2.58 billion and a price-to-earnings ratio of 3.00. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.70 and a quick ratio of 1.52. Hafnia Limited has a 1 year low of $4.99 and a 1 year high of $8.99.

Hafnia (NYSE:HAFN) last issued its quarterly earnings data on Wednesday, November 27th. The company reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.09. Hafnia had a net margin of 53.44% and a return on equity of 36.90%.

Hafnia Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 17th. Investors of record on Friday, December 6th were issued a dividend of $0.379 per share. The ex-dividend date of this dividend was Friday, December 6th. This represents a $1.52 dividend on an annualized basis and a yield of 29.75%. Hafnia’s dividend payout ratio (DPR) is currently 89.41%.

Hafnia Company Profile

Hafnia Limited owns and operates oil product tankers in Bermuda. It operates through Long Range II, Long Range I, Medium Range (MR), Handy size, and Specialized segments. The company transports clean and dirty, refined oil products, vegetable oil, and easy chemicals to national and international oil companies, and chemical companies, as well as trading and utility companies; and owns and operates 200 vessels.