Allianz Asset Management GmbH Sells 1,481,155 Shares of Hafnia Limited (NYSE:HAFN)

Key Points

• Allianz Asset Management GmbH reduced its stake in Hafnia Limited by 83.4%, now holding approximately 294,712 shares after selling 1,481,155 shares during the first quarter.
• Hafnia reported a quarterly earnings per share of $0.13, surpassing analysts' estimates of $0.12, with revenue reaching $340.34 million compared to expectations of $250.80 million.
• The company declared a dividend of $0.1015 per share, with a notable yield of 759.0%, and a payout ratio of 33.06%.

Allianz Asset Management GmbH cut its stake in shares of Hafnia Limited (NYSE:HAFN - Free Report) by 83.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 294,712 shares of the company's stock after selling 1,481,155 shares during the period. Allianz Asset Management GmbH owned about 0.06% of Hafnia worth $1,209,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in HAFN. The Manufacturers Life Insurance Company grew its position in shares of Hafnia by 11.4% during the 4th quarter. The Manufacturers Life Insurance Company now owns 33,126 shares of the company's stock valued at $178,000 after acquiring an additional 3,387 shares during the period. WealthCollab LLC bought a new stake in shares of Hafnia during the 4th quarter valued at $28,000. Callan Capital LLC grew its position in shares of Hafnia by 27.5% during the 1st quarter. Callan Capital LLC now owns 25,622 shares of the company's stock valued at $107,000 after acquiring an additional 5,530 shares during the period. U S Global Investors Inc. grew its position in shares of Hafnia by 12.6% during the 1st quarter. U S Global Investors Inc. now owns 63,643 shares of the company's stock valued at $262,000 after acquiring an additional 7,135 shares during the period. Finally, Sigma Planning Corp grew its position in shares of Hafnia by 20.3% during the 1st quarter. Sigma Planning Corp now owns 44,450 shares of the company's stock valued at $185,000 after acquiring an additional 7,500 shares during the period.

Wall Street Analyst Weigh In

Separately, Fearnley Fonds raised shares of Hafnia to a "strong-buy" rating in a research report on Tuesday, May 6th.

Hafnia Stock Performance

Shares of HAFN stock traded up $0.30 during mid-day trading on Tuesday, reaching $5.94. 2,022,994 shares of the company's stock traded hands, compared to its average volume of 2,142,420. Hafnia Limited has a 12 month low of $3.61 and a 12 month high of $8.26. The firm has a 50 day moving average price of $5.30 and a two-hundred day moving average price of $4.91. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.12 and a current ratio of 1.24. The firm has a market capitalization of $3.01 billion, a PE ratio of 4.90 and a beta of 0.91.

Hafnia (NYSE:HAFN - Get Free Report) last issued its earnings results on Thursday, May 15th. The company reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.01. The company had revenue of $340.34 million during the quarter, compared to the consensus estimate of $250.80 million. Hafnia had a net margin of 45.74% and a return on equity of 26.29%.

Hafnia Announces Dividend

The company also recently announced a dividend, which was paid on Wednesday, June 4th. Investors of record on Monday, May 26th were issued a $0.1015 dividend. The ex-dividend date of this dividend was Friday, May 23rd. This represents a yield of 759.0%. Hafnia's dividend payout ratio is currently 33.88%.

Hafnia 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.