David Jacob, Managing Director of Investment Management at fund manager Henderson Group, has sold 429,000 shares at 120.60p.
The £517,374 sale was made after the director acquired just over two million shares on the vesting of a share plan.
Following the transaction Jacob now holds around 2.466m shares. His wife continues to own 710,920 shares.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
The stock has fallen over 28% in the past year, equivalent to 48.5p, and despite making gains in the last month of around 5%, has lost over 3% in the past week.
At the end of February the company said that while its acquisition of Gartmore in 2011 boosted income, outflows during the year were still 'significant'.
Underlying profits before tax were £159.2m, although when the Gartmore transaction and other items are taken into account, basic profit before tax fell to £13m.
Assets under management by the end of 2011 were £64.3bn an increase of 4% compared to December 31st 2010.
Top Director Buys
Director name: Mr Greg Lock
Amount purchased: 6,562 @ 410.20p
Top Director Sells
Henderson Group (HGG)
Director name: Mr David Jacob
Amount sold: 429,000 @ 120.60p
SVG Capital (SVI)
Director name: Mr Edgar Koning
Amount sold: 4,587 @ 321.00p
Walker Crips Group (WCW)
Director name: Mr Stephen Bailey
Amount sold: 25,000 @ 45.00p
The fallout from the war on landlords
Investors fleeing the market and the rise in rents are affecting us all.
By Charlie Ellingworth Published
Eight small-cap trusts to bet on
Funds investing in market minnows are out of favour, but the cycle will turn. Here are the best bets.
By Max King Published