NEW YORK, May 31, 2018 /PRNewswire/ -- S&P Midcap 400 constituent Westar Energy Inc. (NYSE: WR), to be renamed Evergy, will replace Navient Corp. (NASD: NAVI) in the S&P 500, Navient will replace Westar Energy in the S&P Midcap 400, S&P SmallCap 600 constituent Integra Lifesciences Holdings Corp. (NASD: IART) will replace Great Plains Energy Inc. (NYSE: GXP) in the S&P MidCap 400, and Ambac Financial Group Inc. (NASD: AMBC) will replace Integra Lifesciences Holdings in the S&P SmallCap 600 effective prior to the open of trading on Tuesday, June 5. Westar Energy is acquiring Great Plains Energy in a deal expected to be completed soon pending final conditions. Post-merger, the combined company, which will be renamed Evergy and trade under the symbol EVRG, will have a market capitalization more representative of the large-cap market space. Navient has a market capitalization more representative of the mid-cap market space.
Evergy operates as an electric utility company. Headquartered in Kansas City, MO, the company will be added to the S&P 500 GICS (Global Industry Classification Standard) Electric Utilities Sub-Industry index.
Navient provides asset management and business processing services to education, health care, and government clients. Headquartered in Wilmington, DE, the company will be added to the S&P MidCap 400 GICS Consumer Finance Sub-Industry index.
Integra Lifesciences Holdings develops, manufactures, and markets surgical implants and medical instruments. Headquartered in Plainsboro, NJ, the company will be added to the S&P MidCap 400 GICS Health Care Equipment Sub-Industry index.
Ambac Financial Group provides financial guarantees to clients in public and private sectors. Headquartered in New York, NY, the company will be added to the S&P SmallCap 600 GICS Property & Casualty Insurance Sub-Industry index.
Following is a summary of the changes:
S&P 500 INDEX – JUNE 5, 2018
GICS ECONOMIC SECTOR
S&P MIDCAP 400 INDEX – JUNE 5, 2018
Health Care Equipment
Great Plains Energy
S&P SMALLCAP 600 INDEX – JUNE 5, 2018
Property & Casualty Insurance
Health Care Equipment
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