By Josh Beckerman

Synchrony Financial will replace Genworth Financial Inc. (GNW) in the S&P 500 index after the close of trading Nov. 17.

S&P Dow Jones Indices said Genworth will move to the S&P MidCap 400, as its market capitalization "is more representative of the mid cap market space." The insurance company has a market value of about $2.6 billion.

Synchrony, which provides private-label credit cards, has been part of General Electric Co. (GE). An exchange offer related to its separation is expected to be completed next week.

Inclusion in the S&P 500 is typically a boon for a stock as index-tracking funds buy shares.

In after-hours trading, Genworth shares fell 1.5% to $4.68.

Write to Josh Beckerman at josh.beckerman@wsj.com

Subscribe to WSJ: http://online.wsj.com?mod=djnwires

(END) Dow Jones Newswires

November 09, 2015 21:27 ET (02:27 GMT)

Copyright (c) 2015 Dow Jones & Company, Inc.
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