Citigroup Inc. Reduces Position in Hafnia Limited (NYSE:HAFN)

Citigroup Inc. decreased its holdings in shares of Hafnia Limited (NYSE:HAFN) by 69.3% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 739,747 shares of the company’s stock after selling 1,671,649 shares during the quarter. Citigroup Inc. owned 0.15% of Hafnia worth $5,275,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of HAFN. Bank of New York Mellon Corp bought a new position in shares of Hafnia in the second quarter worth about $2,421,000. Allspring Global Investments Holdings LLC bought a new position in Hafnia in the 2nd quarter worth about $60,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Hafnia during the second quarter worth approximately $528,000. TD Asset Management Inc bought a new stake in shares of Hafnia during the second quarter valued at approximately $148,000. Finally, Acadian Asset Management LLC bought a new stake in shares of Hafnia during the second quarter valued at approximately $107,651,000.

Hafnia Stock Performance

HAFN stock opened at $5.62 on Tuesday. Hafnia Limited has a 1-year low of $5.13 and a 1-year high of $8.99. The business has a 50-day moving average price of $6.27 and a 200 day moving average price of $7.32. The company has a market capitalization of $2.85 billion and a P/E ratio of 3.31. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.49 and a quick ratio of 1.33.

Hafnia Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 17th. Stockholders of record on Friday, December 6th will be issued a $0.379 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $1.52 annualized dividend and a dividend yield of 26.98%. Hafnia’s dividend payout ratio is currently 88.82%.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group reduced their price objective on Hafnia from $9.00 to $8.00 and set a “buy” rating on the stock in a report on Thursday, November 14th.

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.