Henderson director sells 429,000 shares

David Jacob, managing director of investment management at 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. 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 while its acquisition of Gartmore in 2011 boosted income, outflows during the year were still 'significant'. Underlying profits before tax were £159.2m, although ...