Charles Schwab Investment Management Inc. Cuts Holdings in Kemper Corporation $KMPR

Key Points

• Charles Schwab Investment Management Inc. reduced its stake in Kemper Corporation by 7.8%, selling 61,520 shares and owning 1.14% of the company, valued at approximately $48.9 million.
• Kemper's Board of Directors authorized a $500 million share repurchase plan, indicating confidence in the company's stock valuation.
• The company declared a quarterly dividend of $0.32 per share, with an annualized yield of 2.4%, set to be paid on September 2nd to shareholders recorded as of August 18th.

Charles Schwab Investment Management Inc. cut its stake in shares of Kemper Corporation (NYSE:KMPR - Free Report) by 7.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 731,433 shares of the insurance provider's stock after selling 61,520 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.14% of Kemper worth $48,896,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. GAMMA Investing LLC boosted its holdings in Kemper by 87.0% during the 1st quarter. GAMMA Investing LLC now owns 1,337 shares of the insurance provider's stock valued at $89,000 after acquiring an additional 622 shares during the period. Cerity Partners LLC boosted its holdings in Kemper by 74.7% during the 1st quarter. Cerity Partners LLC now owns 35,334 shares of the insurance provider's stock valued at $2,362,000 after acquiring an additional 15,106 shares during the period. M&T Bank Corp purchased a new stake in Kemper during the 1st quarter valued at about $301,000. KBC Group NV raised its position in Kemper by 14.3% during the 1st quarter. KBC Group NV now owns 2,948 shares of the insurance provider's stock valued at $197,000 after purchasing an additional 369 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its position in Kemper by 16.9% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 29,516 shares of the insurance provider's stock valued at $1,973,000 after purchasing an additional 4,258 shares during the last quarter. 86.23% of the stock is currently owned by hedge funds and other institutional investors.

Kemper Stock Down 0.6%

Shares of NYSE:KMPR traded down $0.3220 during trading on Thursday, hitting $53.4380. The stock had a trading volume of 793,024 shares, compared to its average volume of 1,110,087. Kemper Corporation has a 12 month low of $45.02 and a 12 month high of $73.01. The company has a market capitalization of $3.35 billion, a PE ratio of 10.06 and a beta of 1.27. The firm's fifty day moving average is $59.90 and its 200 day moving average is $62.32. The company has a quick ratio of 0.21, a current ratio of 0.21 and a debt-to-equity ratio of 0.32.

Kemper (NYSE:KMPR - Get Free Report) last announced its earnings results on Tuesday, August 5th. The insurance provider reported $1.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.52 by ($0.22). Kemper had a return on equity of 14.39% and a net margin of 7.18%.The firm had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.23 billion. During the same period in the prior year, the company posted $1.42 EPS. The firm's revenue was up 8.5% on a year-over-year basis. Analysts anticipate that Kemper Corporation will post 6.03 EPS for the current fiscal year.

Kemper announced that its Board of Directors has approved a stock repurchase plan on Tuesday, August 5th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the insurance provider to repurchase up to 12.8% of its stock through open market purchases. Stock buyback plans are often an indication that the company's management believes its stock is undervalued.

Kemper Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Monday, August 18th will be given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend is Monday, August 18th. Kemper's dividend payout ratio (DPR) is 24.11%.

Insider Activity at Kemper

In related news, Director Gerald Laderman acquired 3,000 shares of Kemper stock in a transaction that occurred on Thursday, August 7th. The stock was bought at an average price of $49.37 per share, with a total value of $148,110.00. Following the transaction, the director directly owned 24,635 shares in the company, valued at approximately $1,216,229.95. This represents a 13.87% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Jason N. Gorevic acquired 2,000 shares of Kemper stock in a transaction that occurred on Thursday, August 7th. The shares were bought at an average cost of $49.14 per share, with a total value of $98,280.00. Following the transaction, the director owned 22,072 shares in the company, valued at $1,084,618.08. This represents a 9.96% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased a total of 8,000 shares of company stock valued at $432,845 in the last 90 days. Corporate insiders own 6.20% of the company's stock.

Analyst Ratings Changes

A number of research firms have commented on KMPR. Cowen reaffirmed a "buy" rating on shares of Kemper in a research report on Thursday, August 7th. JMP Securities lowered their price target on Kemper from $85.00 to $75.00 and set a "market outperform" rating for the company in a research report on Wednesday, August 6th. Zacks Research raised Kemper to a "strong sell" rating in a research report on Monday, August 11th. Piper Sandler reaffirmed an "underweight" rating and set a $50.00 price target (down previously from $75.00) on shares of Kemper in a research report on Wednesday, August 6th. Finally, Wall Street Zen lowered Kemper from a "strong-buy" rating to a "hold" rating in a research report on Saturday, August 9th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, Kemper has a consensus rating of "Moderate Buy" and an average target price of $72.75.

About Kemper

Kemper Corporation, a diversified insurance holding company, engages in the provision of insurance products to individuals and businesses in the United States. The company operates through three segments: Specialty Property & Casualty Insurance, Preferred Property & Casualty Insurance, and Life & Health Insurance.