Root, Inc. Set to Join Russell 3000® Index
June 13 2022 - 4:00PM
Root, Inc. (NASDAQ: ROOT), a leading technology company powering
insurance solutions and the parent company of Root Insurance, is
set to join the broad-market Russell 3000® Index at the conclusion
of the 2022 Russell indexes annual reconstitution, effective after
the U.S. market opens on June 27, 2022 according to a preliminary
list of additions posted June 3, 2022 by FTSE Russell.
Annual Russell indexes reconstitution captures the 4,000 largest
U.S. stocks as of May 6, 2022, ranking them by total market
capitalization. Membership in the U.S. all-cap Russell 3000® Index,
which remains in place for one year, means automatic inclusion in
the large-cap Russell 1000® Index or small-cap Russell 2000® Index
as well as the appropriate growth and value style indexes. FTSE
Russell determines membership for its Russell indexes primarily by
objective, market-capitalization rankings and style attributes.
“We’re thrilled for Root to be included in the Russell 3000®
Index as we expand our reach to the broader investment community,”
says Alex Timm, CEO and Co-Founder. “This is a reflection of the
priorities we have put in place, the dedication of our team, and
the value we bring to creating a personalized and easy experience
for our customers.”
Russell indexes are widely used by investment managers and
institutional investors for index funds and as benchmarks for
active investment strategies. Approximately $12 trillion in assets
are benchmarked against Russell’s U.S. indexes. Russell indexes are
part of FTSE Russell, a leading global index provider.
For more information on the Russell 3000® Index and the Russell
indexes reconstitution, go to the “Russell Reconstitution” section
on the FTSE Russell website.
About Root, Inc.
Root, Inc. is the parent company of Root Insurance Company. Root is
revolutionizing insurance through data science and technology to
provide consumers a personalized, easy, and fair experience.
About FTSE Russell:
FTSE Russell is a global index leader that provides innovative
benchmarking, analytics and data solutions for investors worldwide.
FTSE Russell calculates thousands of indexes that measure and
benchmark markets and asset classes in more than 70 countries,
covering 98% of the investable market globally.
FTSE Russell index expertise and products are used extensively
by institutional and retail investors globally. Approximately $20
trillion is currently benchmarked to FTSE Russell indexes. For over
30 years, leading asset owners, asset managers, ETF providers and
investment banks have chosen FTSE Russell indexes to benchmark
their investment performance and create ETFs, structured products
and index-based derivatives.
A core set of universal principles guides FTSE Russell index
design and management: a transparent rules-based methodology is
informed by independent committees of leading market participants.
FTSE Russell is focused on applying the highest industry standards
in index design and governance and embraces the IOSCO Principles.
FTSE Russell is also focused on index innovation and customer
partnerships as it seeks to enhance the breadth, depth and reach of
its offering.
FTSE Russell is wholly owned by London Stock Exchange Group.
For more information, visit www.ftserussell.com.
Investor Relations:
Christine Patrick VP, Investor Relations and Treasurer
ir@joinroot.com
Media:
press@joinroot.com
Forward-Looking
Statements:This press release contains forward-looking
statements within the meaning of federal securities laws regarding
Root, Inc. These forward-looking statements relate to, among other
things, expectations about our future business results. Such
forward-looking statements are not guarantees of future performance
and are subject to risks, uncertainties and other factors, some of
which are beyond the company's control and are difficult to
predict. We have based our forward-looking statements on our
current expectations, estimates and projections about our industry
and our company. We caution that these statements are not
guarantees of future performance and you should not rely unduly on
them, as they involve risks, uncertainties and assumptions that we
cannot predict and many of which are beyond our control.
Accordingly, our actual results may differ materially from the
future performance that we have expressed or forecast in our
forward-looking statements. In accordance with "safe harbor"
provisions of the Private Securities Litigation Reform Act of 1995,
we have included in Root's Form 10-K for the year ended Dec. 31,
2021, and other SEC filings, cautionary language identifying
important factors, though not necessarily all such factors, that
could cause future outcomes to differ materially from those set
forth in the forward-looking statements. Copies of Root's Form 10-K
and other SEC filings are available on the SEC's website, Root's
website at https://ir.joinroot.com/investor-relations or by
contacting Root's Investor Relations office.
Root (NASDAQ:ROOT)
Historical Stock Chart
From Apr 2024 to May 2024
Root (NASDAQ:ROOT)
Historical Stock Chart
From May 2023 to May 2024