Skandinaviska Enskilda Banken AB publ Buys 794,334 Shares of Hafnia Limited $HAFN

Skandinaviska Enskilda Banken AB publ increased its stake in shares of Hafnia Limited (NYSE:HAFN) by 2,389.0% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 827,583 shares of the company’s stock after acquiring an additional 794,334 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Hafnia were worth $4,130,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. J.W. Cole Advisors Inc. bought a new stake in Hafnia in the second quarter valued at $55,000. Legal & General Group Plc boosted its stake in shares of Hafnia by 14.5% in the 2nd quarter. Legal & General Group Plc now owns 731,651 shares of the company’s stock valued at $3,660,000 after purchasing an additional 92,514 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Hafnia by 26.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 233,532 shares of the company’s stock valued at $1,165,000 after purchasing an additional 49,409 shares in the last quarter. Sierra Capital LLC bought a new stake in shares of Hafnia in the 2nd quarter worth about $50,000. Finally, Cercano Management LLC bought a new position in Hafnia during the 2nd quarter valued at about $1,328,000.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on HAFN shares. Fearnley Fonds cut shares of Hafnia from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 3rd. Weiss Ratings reissued a “hold (c)” rating on shares of Hafnia in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $6.50.

Hafnia Stock Down 3.3%

Shares of NYSE:HAFN opened at $5.80 on Tuesday. The company has a quick ratio of 1.09, a current ratio of 1.21 and a debt-to-equity ratio of 0.27. The firm has a market cap of $2.94 billion, a P/E ratio of 6.82 and a beta of 0.97. Hafnia Limited has a 12 month low of $3.61 and a 12 month high of $6.64. The company’s 50-day moving average price is $6.15 and its two-hundred day moving average price is $5.75.

Hafnia (NYSE:HAFN) last announced its earnings results on Monday, December 1st. The company reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.02. Hafnia had a net margin of 37.26% and a return on equity of 18.74%. The company had revenue of $247.00 million during the quarter, compared to the consensus estimate of $256.84 million.

Hafnia Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 19th. Shareholders of record on Tuesday, December 9th will be issued a dividend of $0.147 per share. The ex-dividend date of this dividend is Tuesday, December 9th. This represents a $0.59 annualized dividend and a yield of 10.1%. This is a positive change from Hafnia’s previous quarterly dividend of $0.12. Hafnia’s dividend payout ratio (DPR) is currently 56.47%.

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.