Goldman Sachs Group Inc. Has $5.20 Million Holdings in Hafnia Limited $HAFN

Key Points

• Goldman Sachs Group Inc. has significantly reduced its stake in Hafnia Limited by 52.2%, now owning approximately 1.25 million shares worth $5.2 million.
• Hafnia has been downgraded from a "strong-buy" to a "hold" rating by Fearnley Fonds, with a consensus target price of $6.50.
• The company announced a quarterly dividend of $0.121 per share, representing a dividend yield of 7.6% and an annualized dividend of $0.48.

Goldman Sachs Group Inc. lessened its holdings in Hafnia Limited (NYSE:HAFN - Free Report) by 52.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,249,177 shares of the company's stock after selling 1,362,746 shares during the period. Goldman Sachs Group Inc. owned about 0.25% of Hafnia worth $5,197,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Skandinaviska Enskilda Banken AB publ increased its position in Hafnia by 8.5% in the 1st quarter. Skandinaviska Enskilda Banken AB publ now owns 33,249 shares of the company's stock worth $138,000 after buying an additional 2,591 shares during the period. Callan Capital LLC increased its position in Hafnia by 27.5% in the 1st quarter. Callan Capital LLC now owns 25,622 shares of the company's stock worth $107,000 after buying an additional 5,530 shares during the period. U S Global Investors Inc. increased its position in Hafnia by 12.6% in the 1st quarter. U S Global Investors Inc. now owns 63,643 shares of the company's stock worth $262,000 after buying an additional 7,135 shares during the period. Sigma Planning Corp grew its position in Hafnia by 20.3% during the first quarter. Sigma Planning Corp now owns 44,450 shares of the company's stock worth $185,000 after buying an additional 7,500 shares in the last quarter. Finally, TD Asset Management Inc increased its stake in Hafnia by 38.5% during the first quarter. TD Asset Management Inc now owns 28,406 shares of the company's stock valued at $116,000 after acquiring an additional 7,892 shares during the period.

Hafnia Price Performance

HAFN traded down $0.22 during trading on Friday, hitting $6.06. 1,043,334 shares of the stock traded hands, compared to its average volume of 1,239,764. Hafnia Limited has a twelve month low of $3.61 and a twelve month high of $7.57. The company has a market cap of $3.07 billion, a price-to-earnings ratio of 7.13 and a beta of 0.93. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.21 and a quick ratio of 1.09. The business has a 50 day moving average price of $5.76 and a 200 day moving average price of $5.11.

Hafnia (NYSE:HAFN - Get Free Report) last announced its quarterly earnings data on Wednesday, August 27th. The company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.14 by $0.01. The business had revenue of $346.56 million during the quarter, compared to the consensus estimate of $249.42 million. Hafnia had a net margin of 37.26% and a return on equity of 18.74%.

Hafnia Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Thursday, September 4th were paid a $0.121 dividend. The ex-dividend date of this dividend was Thursday, September 4th. This represents a $0.48 annualized dividend and a dividend yield of 8.0%. Hafnia's payout ratio is currently 56.47%.

Analyst Ratings Changes

Separately, Fearnley Fonds lowered Hafnia from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, September 3rd. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, Hafnia presently has an average rating of "Moderate Buy" and a consensus price target of $6.50.

About Hafnia

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.