Five companies in the financial-services sector are being added to the Russell 1000 in this year's reconstitution of the large stock index, while 12 in the sector are being removed.
Digital Realty Trust Inc., Morningstar Inc., Nationwide Health Properties Inc., Visa Inc. and Waddell & Reed Financial Inc. are being added to the Russell 1000.
Moneygram International Inc. and Thornburg Mortgage Inc. are being removed from the index.
Colonial Bancgroup Inc., Colonial Properties Trust, East West Bancorp Inc., Fair Isaac Corp., First Marblehead Corp., Guaranty Financial Group, Indymac Bancorp Inc., PMI Group Inc., Radian Group Inc. and Aircastle Ltd. are being removed from the large-cap index and moving to the small-stock Russell 2000.
Tacoma, Wash.-based Russell Investments realigns the Russell 3000 index once per year, tracking what it says is 99 percent of the U.S. equity market. That index is then broken down to 26 smaller indexes, including the widely watched Russell 1000 index of large-capitalization stocks.
The makeup of the Russell indexes for the next 12 months was finalized after the closing bell Friday.
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