The Janus Henderson Group CDI (ASX: JHG) share price is heading south on Thursday. This comes after the company reported its CEO again offloaded a number of his shares through an on-market transaction.
At the time of writing, the fund manager’s shares are down 0.86% to $58.61. This means that over the past month alone, its shares have lost around 7%.
CEO continues to sell off his holdings
Last Thursday, Janus Henderson CEO Richard M Weil made an on-market transaction selling a portion of his shares.
In total, 100,000 shares were disposed of at an average price of $42.03 per share. The sale represented another line of transactions made by the CEO over the course of December.
Notably, Weil has offloaded more than 530,000 Janus Henderson shares in the past three weeks. This is valued at around $22.2 million across 7 separate transactions.
It appears the constant selling has spooked investors, sending the Janus Henderson share price on a decline. Last month, the company’s shares hit an all-time high of $66.31.
While no reason was given as to why the CEO sold his shares, Weil’s portfolio currently holds 423,422 ordinary shares in the company. This still makes him the largest individual shareholder by a sizeable amount.
Interestingly, a broker note from Bell Potter last week raised its 12-month price target for Janus Henderson shares. Analysts at the leading Australian stockbroking firm lifted their outlook by 35% to $71.00.
Based on the current share price, this implies an upside of about 21% for investors.
Janus Henderson share price summary
Since the start of the year, the Janus Henderson share price has posted a gain of 38%.
Janus Henderson commands a market capitalisation of approximately $1.59 billion, with 27.22 million shares on issue.
The post Own Janus Henderson (ASX:JHG) shares? The CEO just made another sizeable transaction appeared first on The Motley Fool Australia.
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Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
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