Driehaus Capital Management LLC Sells 91,435 Shares of Kemper Corporation $KMPR

Key Points

• Driehaus Capital Management LLC has reduced its holdings in Kemper Corporation by 9.8%, owning approximately $56.36 million worth of shares after selling 91,435 shares in the first quarter.
• Kemper Corporation announced a $500 million share repurchase program, indicating management's belief that the stock may be undervalued.
• The company reported earnings per share of $1.30 for the last quarter, missing estimates by $0.22, while also experiencing an 8.5% increase in revenue year-over-year.

Driehaus Capital Management LLC lowered its stake in shares of Kemper Corporation (NYSE:KMPR - Free Report) by 9.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 843,136 shares of the insurance provider's stock after selling 91,435 shares during the period. Driehaus Capital Management LLC owned 1.32% of Kemper worth $56,364,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Federated Hermes Inc. increased its stake in shares of Kemper by 4.8% during the 1st quarter. Federated Hermes Inc. now owns 5,688 shares of the insurance provider's stock worth $380,000 after purchasing an additional 263 shares during the last quarter. UMB Bank n.a. boosted its holdings in Kemper by 104.4% in the 1st quarter. UMB Bank n.a. now owns 650 shares of the insurance provider's stock valued at $43,000 after purchasing an additional 332 shares during the period. Allworth Financial LP lifted its holdings in shares of Kemper by 68.8% during the 1st quarter. Allworth Financial LP now owns 883 shares of the insurance provider's stock worth $59,000 after acquiring an additional 360 shares during the last quarter. Blue Trust Inc. lifted its holdings in shares of Kemper by 40.4% during the 1st quarter. Blue Trust Inc. now owns 1,268 shares of the insurance provider's stock worth $85,000 after acquiring an additional 365 shares during the last quarter. Finally, KBC Group NV lifted its holdings in shares of Kemper by 14.3% during the 1st quarter. KBC Group NV now owns 2,948 shares of the insurance provider's stock worth $197,000 after acquiring an additional 369 shares during the last quarter. Hedge funds and other institutional investors own 86.23% of the company's stock.

Kemper Stock Up 1.4%

Shares of NYSE KMPR traded up $0.73 during midday trading on Tuesday, hitting $54.38. The stock had a trading volume of 685,067 shares, compared to its average volume of 576,992. The business's 50 day moving average is $58.52 and its 200-day moving average is $61.56. The company has a market cap of $3.41 billion, a P/E ratio of 10.24 and a beta of 1.30. Kemper Corporation has a 52 week low of $45.02 and a 52 week high of $73.01. 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 released its quarterly earnings data on Tuesday, August 5th. The insurance provider reported $1.30 earnings per share for the quarter, missing the consensus estimate of $1.52 by ($0.22). Kemper had a net margin of 7.18% and a return on equity of 14.39%. The company had revenue of $1.23 billion for the quarter, compared to analysts' expectations of $1.23 billion. During the same period in the previous year, the firm earned $1.42 earnings per share. The firm's revenue for the quarter was up 8.5% on a year-over-year basis. As a group, analysts predict that Kemper Corporation will post 6.03 EPS for the current year.

Kemper declared that its Board of Directors has authorized a share buyback program on Tuesday, August 5th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the insurance provider to buy up to 12.8% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's board believes its shares are undervalued.

Kemper Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th will be issued 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 is currently 24.11%.

Insider Buying and Selling at Kemper

In other Kemper news, Director Gerald Laderman bought 3,000 shares of Kemper stock in a transaction on Thursday, August 7th. The stock was acquired at an average cost of $49.37 per share, with a total value of $148,110.00. Following the completion of the acquisition, the director 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 purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Jason N. Gorevic acquired 2,000 shares of Kemper stock in a transaction dated Thursday, August 7th. The stock was purchased at an average cost of $49.14 per share, with a total value of $98,280.00. Following the completion of the purchase, the director owned 22,072 shares of the company's stock, valued at approximately $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. Over the last ninety days, insiders acquired 8,000 shares of company stock valued at $432,845. Insiders own 0.76% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on KMPR shares. Zacks Research upgraded shares of Kemper to a "strong sell" rating in a research report on Monday, August 11th. Wall Street Zen cut shares of Kemper from a "strong-buy" rating to a "hold" rating in a research report on Saturday, August 9th. JMP Securities decreased their price objective on shares of Kemper from $85.00 to $75.00 and set a "market outperform" rating on the stock in a research report on Wednesday, August 6th. Piper Sandler restated an "underweight" rating and issued a $50.00 price objective (down previously from $75.00) on shares of Kemper in a research report on Wednesday, August 6th. Finally, Cowen reaffirmed a "buy" rating on shares of Kemper in a research note on Thursday, August 7th. One 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 data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $72.75.

Kemper Company Profile

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.