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NEW YORK - Enact Holdings Inc. (NASD: ACT), a company operating in the financial sector, is set to join the S&P SmallCap 600 index. This change comes as a result of SolarWinds Corp. (NYSE: SWI), an information technology firm, being acquired by Turn/River Capital. The update to the index will take effect prior to the opening of trading on April 16, 2025. Enact Holdings, currently trading at $33.37, demonstrates solid fundamentals with a P/E ratio of 7.57 and annual revenue of $1.2 billion.
The S&P SmallCap 600 will see the addition of Enact Holdings and the deletion of SolarWinds on the specified date, reflecting the ongoing adjustments to the index to maintain its representation of the small-cap market segment. These changes are part of the standard practice of S&P Dow Jones Indices to ensure the index accurately mirrors the evolving business landscape.
SolarWinds' departure from the S&P SmallCap 600 is due to the acquisition by Turn/River Capital, which is anticipated to be finalized soon, subject to the satisfaction of the remaining closing conditions.
S&P Dow Jones Indices, a division of S&P Global (NYSE: SPGI), is known for its wide array of index-based concepts, data, and research. It is the home of renowned financial market indicators such as the S&P 500 and the Dow Jones Industrial Average. The company has a long history of innovation in index creation and is a trusted source for investors around the world.
The inclusion of Enact Holdings in the S&P SmallCap 600 could potentially influence the company's stock visibility and liquidity, as indices like these are often used as benchmarks for investment funds, including ETFs and mutual funds.
This information is based on a press release statement from S&P Dow Jones Indices.
In other recent news, Alchimp Group AG reported mixed results for Q4 2024, with earnings per share (EPS) of $1.09, exceeding forecasts of $1.04, while revenue fell short at $301.77 million against an expected $309.37 million. The company achieved record sales of €554 million in 2024, driven significantly by its specialty chemicals segment, which accounted for 63% of total sales. Alchimp's EBITDA increased by 30% to €105.3 million, with a margin improvement to 19%, and the company announced a proposed dividend increase of 50% to €1.8 per share.
Meanwhile, Genworth Financial has expanded its Board of Directors with the appointment of Steven C. Van Wyk, a former Group Chief Information Officer for HSBC Bank PLC. His addition is part of Genworth's strategy to enhance its service offerings and integrate new AI and digital technologies.
Enact Holdings, Inc. also made a significant board appointment, naming H. Elizabeth Mitchell as an independent director and member of the Audit Committee. Anne G. Waleski, a current board member, will not seek re-election at the upcoming Annual Shareholder Meeting.
These developments reflect ongoing strategic shifts and governance enhancements within these companies.
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