LendingTree, Inc. - TREE STOCK NEWS

QuoteWizard, a LendingTree company, released a report detailing how top health insurers have reported record profits during the COVID-19 pandemic. Companies like UnitedHealth Group, Humana, and Anthem experienced billion-dollar profits in Q2 2020, doubling year-over-year. Despite rising unemployment and healthcare challenges, these insurers thrived, with United Healthcare reporting a medical loss ratio of 70.2%. The report also highlights significant increases in employer health care premiums, which rose by 57% since 2009, averaging $7,459 annually.

According to a survey by ValuePenguin.com, part of LendingTree (NASDAQ: TREE), 30% of Americans with vehicles have halted their commutes due to COVID-19, with 19% working from home and 10% laid off. As of August 2020, 26% have resumed daily commutes. The survey indicates a significant drop in weekly gas purchases, down 26%. Moreover, over a quarter of drivers adjusted their auto insurance to save costs. Notably, 16% of respondents ceased rideshare usage entirely. The survey, conducted on 1,105 Americans, reflects changing driving habits in response to the pandemic.

In a recent survey by CompareCards, 67% of parents reported increased stress over back-to-school shopping, up from 43% in 2019. The average expected spending per shopper has risen by 11.7% to $478. Debt concerns are also on the rise, with 30% of parents anticipating this year's expenses will force them into debt, compared to 26% last year. Online shopping is significantly up, with 44% planning to shop online versus 13% in 2019. Key categories projected for increased spending include electronics, office supplies, and athletic equipment.

LendingTree conducted a survey revealing that 64% of homebuyers are willing to exceed their budget to secure their ideal home amid low mortgage rates and a tight housing market. The survey highlights key buyer concerns, with 37% citing budget constraints as the most stressful issue. Notably, Black and Hispanic homebuyers find the mortgage application process particularly stressful. Despite the allure of going over budget, LendingTree's Chief Economist cautions against it due to potential long-term maintenance costs. The survey sampled 1,006 homebuyers from April 24-30, 2020.

QuoteWizard®, a LendingTree company, revealed a report highlighting the surge in uninsured rates due to pandemic-induced job losses. Between February and May 2020, approximately 5.4 million individuals became uninsured. The Robert Wood Johnson Foundation anticipates over 10 million people will lose employer-sponsored health insurance by year's end. The report shows a 56% rise in uninsured rates in May compared to pre-pandemic levels, with several states witnessing significant increases driven by high unemployment.

QuoteWizard®, a LendingTree company, reported significant impacts of the COVID-19 pandemic on mobility rates across the U.S. In June 2020, 36.5% of adults experienced anxiety or depressive disorders, a stark rise from 11% in 2019. States like California, Hawaii, and Arizona showed the least mobility due to restrictions. A 9% reduction in retail and recreation activities correlates with increased home stays, with about 33% of individuals opting to remain at home compared to pre-pandemic levels. The analysis was based on Google and CDC data regarding mobility.