Primerica, Inc. (NYSE:PRI), the largest independent financial services marketing company in North America, will replace The Shaw Group (NYSE:SHAW) in the S&P MidCap Index after the close of trading on Tuesday, February 12, 2013, according to S&P. To be included in this index, a company’s stock must have a total market capitalization that ranges from $750 million to $3 billion. Primerica currently has a market capitalization of approximately $1.9 billion.
John Addison, Chairman of Primerica Distribution and Co-Chief Executive Officer said, “After the completion of our 2010 IPO, we were gratified to be included in the Russell 2000 Index. Today, we are elated that we are now also included in the prestigious S&P MidCap 400 Index.”
S&P Dow Jones Indices LLC, a subsidiary of the McGraw-Hill Companies, is the world’s largest global resource for index-based concepts, data and research. Along with the S&P MidCap, it is home to iconic financial market indicators, such as the S&P 500 and the Dow Jones Industrial Average. S&P Dow Jones Indices have over 115 years of experience constructing innovative solutions that fulfill the needs of investors.
Rick Williams, Chairman of the Board and Co-Chief Executive Officer of Primerica said, “Inclusion in the S&P MidCap Index marks another important milestone for Primerica as a publicly traded company. Our addition to this esteemed index will provide outstanding exposure for Primerica among both institutional and retail investors.”About Primerica Primerica, Inc., headquartered in Duluth, GA, is a leading distributor of financial products to middle-income families in North America. Primerica representatives educate their Main Street clients about how to better prepare for a more secure financial future by assessing their needs and providing appropriate solutions through term life insurance, which we underwrite, and mutual funds, annuities and other financial products, which we distribute primarily on behalf of third parties. In addition, Primerica provides an entrepreneurial full or part-time business opportunity for individuals seeking to earn income by distributing the company’s financial products. We insure more than 4.3 million lives and approximately 2 million clients maintain investment accounts with us. Primerica’s stock is included in the S&P MidCap 400 and the Russell 2000 stock indices and is traded on The New York Stock Exchange under the symbol “PRI”.