Auto Insurance Costs Dip in May With Key Industry Reports Ahead

  • 📰 Investingcom
  • ⏱ Reading Time:
  • 36 sec. here
  • 5 min. at publisher
  • 📊 Quality Score:
  • News: 28%
  • Publisher: 53%

Progressive Corp Nouvelles

Travelers Companies,Chubb Ltd,Allstate Corp

Stocks Analysis by Christine Short covering: Progressive Corp, Travelers Companies, Chubb Ltd, Allstate Corp. Read Christine Short's latest article on Investing.com

But families across the nation continue to feel the brunt of inflation, particularly when it comes to auto-related expenses, has fallen to 2.7% from a peak above 7% two years ago. While still higher than the FOMC’s 2% target, there’s hope that slow progress on the inflation front over the back half of this year and through 2025 will occur, allowing Chair Powell and the Fed to begin cutting interest rates before too much longer.

There is also a lag effect as insurance companies are late to hike rates on policyholders. But now with the Manheim Used Vehicle Value Index down sharply from its peak in 2022, the hope is that premium increases will level off. While commuters are footing bigger bills, PGR is doing just fine. Even after rallying more than 60% in the past 12 months, the stock trades about two turns cheaper than its 5-year average forward non-GAAP price-to-earnings ratio.

Back in April, Allstate reported operating EPS of $5.13, above the consensus forecast of $3.88 with a better-than-expected combined ratio. Its auto policy count decelerated from a 6.4% decline in Q3 2023 to a 5.2% decline in Q1 of this year.

Nous avons résumé cette actualité afin que vous puissiez la lire rapidement. Si l'actualité vous intéresse, vous pouvez lire le texte intégral ici. Lire la suite:

 /  🏆 450. in FR
 

Merci pour votre commentaire. Votre commentaire sera publié après examen.

France Dernières Nouvelles, France Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

Investor Conferences and Events Could Provide the Push for Stocks After EarningsMarket Overview Analysis by Christine Short covering: S&P 500. Read Christine Short's latest article on Investing.com
La source: Investingcom - 🏆 450. / 53 Lire la suite »

4 Retailers With Outlier Earnings Dates Reporting This WeekStocks Analysis by Christine Short covering: Walmart Inc, Bath & Body Works Inc., Big Lots Inc, TJX Companies Inc. Read Christine Short's latest article on Investing.com
La source: Investingcom - 🏆 450. / 53 Lire la suite »