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Chief exec's wife sells Hargreaves shares

The wife of Hargreaves Lansdown's boss has taken advantage of a sharp rise in the share price of the investment management services group
May 28, 2014

Shares in Hargreaves Lansdown (HL.) have more than doubled in the past couple of years and Mrs H Gorham - wife of chief executive Ian Gorham - sold 110,000 shares at 1,166p earlier this month. That raised a cool £1.28m, although Mr Gorham still has a beneficial shareholding relating to 332,628 shares (or around 0.07 per cent of the issued share capital).

IC TIP: Hold at 1191p

Hargreaves Lansdown provides investment management services and the group recently announced that assets under administration stood at a record £45.7bn, up £2.3bn in the first quarter of the year. Clients using the group's Vantage trading platform rose by 33,000 over the same period, bringing the total number of active clients to 617,000, or a 28 per cent rise on the year. This helped to push net revenue up by 6 per cent in the first quarter to £73.7m. Trading has been boosted by a steady switch into defined contribution pensions where individuals take an active interest in how their funds are invested. Self investment levels are less than half those in the US and the group's sophisticated trading platform means that new business levels are likely to continue growing.

Buys
CompanyDirectorDateNo of sharesPrice (p)Value (£)Holding (shares)Holding (%)
Armadale Capital Justin Lewis20 May 1423,000,0000.123,00083,000,0002.270
Amara Mining John McGloin (ch)19 May 14587,8411799,933871,9060.265
Amara Mining Pete Gardner (cfo)19 May 14261,82016.9844,457430,1090.131
Amara Mining Pete Gardner (cfo)20 May 14325,00016.9855,185755,1090.230
Amino Technologies Keith Todd (ch)19 May 14120,42489107,177281,9830.512
Avanti Communications  David Williams (ce)16 May 149,55025924,7351,705,6511.527
Babcock International  J Randall20 May 143,000118735,6103,000<0.001
Development Securities Michael Marx (ce)15 May 1421,030236.7549,789550,5550.441
Development Securities Marcus Shepherd (fd)15 May 1410,000233.523,35038,3470.031
Experian Jan Babiak16 May 1411,0001,042.91114,72011,0000.001
Grafton  Roderick Ryan21 May 1410,00057557,50035,0000.015
Gresham Computing ♥Max Royde19 May 1450,000131.9565,9735,494,3548.689
Gresham Computing ♥Max Royde20 May 1450,000131.9565,9745,544,3548.768
GVC Holdings Lee Feldman (ch)15 May 1423,875435103,856122,5750.201
Keywords Studios Ross Graham (ch)19 May 1430,49016450,00430,4900.065
Lenta †John Oliver (ch)16 May 1415,000994149,100525,0000.122
Lloyds Banking  Carolyn Fairbairn21 May 1440,00073.9929,59640,000<0.001
Lloyds Banking  Nick Luff16 May 14120,00073.7188,452200,000<0.001
Marshalls Mark Edwards21 May 1429,00017350,17078,0000.039
Marston's Roger Devlin (ch)16 May 14150,000150.75226,125150,0000.026
NetPlay TV (ce)Charles Butler (ce)21 May 141,500,00017.25258,7503,000,0001.013
Ocado  Ruth Anderson16 May 1410,000303.4830,34870,0000.011
Petroceltic International *Brian O'Cathain (ce)21 May 1423,53615736,952194,6090.105
Petroceltic International *TG Hickey (cfo)21 May 1423,53615736,952272,8500.148
Pittards Godfrey Davis15 May 1431,000157.7548,90331,0000.335
Premier Foods Ian Krieger15 May 14200,00054.25108,500304,0000.037
President Energy Peter Levine (ch)20 May 14250,0003075,00076,662,20919.380
Staffline *  Andrew Hogarth (ce)16 May 1446,875800375,0001,615,5045.835
Staffline *  Diane Martyn16 May 143,75080030,0003,7500.014
Staffline *  Nicholas Keegan16 May 143,00080024,00036,7500.133
Telecom plus Andrew Lindsay (ce)21 May 143,0001,490.3944,712135,3120.169
Telecom plus Julian Schild21 May 1417,0001,490.39253,366133,6820.167
Telecom plus Melvin Lawson21 May 143,0001,490.3944,7122,064,8692.581
Telecom plus Charles Wigoder (ch)21 May 145,0001,490.3974,52012,993,18316.238
Tethys Petroleum Julian Hammond (ce)19 May 14100,00022.7522,750225,0000.074
Thomas Cook  Harriet Green (ce)19 May 1432,700154.1750,414732,7000.050
Thomas Cook  Michael Healy (cfo)19 May 1419,700150.5229,65243,7010.003
Thomas Cook  Martine Verluyten19 May 1425,000153.2638,315165,0000.011
Travis Perkins R M Walker (ch)16 May 143,0001,628.6448,85989,0070.036
Travis Perkins Tony Buffin (cfo)16 May 143,000161148,33043,8070.018
Trinity Mirror Simon Fox (ce)19 May 1412,65915820,00187,8610.034
W Resources ♥ *Michael Masterman (ch)19 May 1422,500,0000.8180,000771,594,33935.323

Sells
CompanyDirectorDateNo of sharesPrice (p)Value (£)Holding (shares)Holding (%)
Anglo American Mark Cutifani (ce)20 May 144,6931,53772,13132,8900.002
Hargreaves Lansdown ♥Ian Gorham (ce)21 May 14110,0001,1661,282,600332,6280.070
Prudential MGA McLintock16 May 1472,1881,398.101,009,260440,0870.017
PrudentialNA Nicandrou (cfo)16 May 14116,1061,398.101,623,278286,7000.011
Prudential (ce)TC Thiam16 May 14380,0001,398.105,312,780684,2840.027
Prudential †B L Stowe16 May 14216,0001,397.503,018,602274,7840.011
Prudential †M Wells16 May 14300,0001,399.654,198,935436,5340.017
Rolls-Royce Holdings Colin Smith 16 May 1470,0001,000.59700,413193,3050.010
Rolls-Royce Holdings ♥Colin Smith 16 May 1430,0001,000.59300,177193,3050.010
Stobart Andrew Tinkler (ce)21 May 141,000,0001351,350,00031,179,4429.413
SynthomerAM Whitfield (ce)15 May 1490,976267.99243,811197,3880.058
TT electronics Geraint Anderson (ce)15 May 1470,000212148,400700,5730.441
UBMRobert Gray (cfo)20 May 1413,514648.8687,68817,5030.007

* placing/tender/open offer ♥ spouse/connected party

† depositary receipts