AQR Capital Management LLC Has $84.15 Million Position in Kemper Corporation $KMPR

Key Points

• AQR Capital Management increased its stake in Kemper Corporation by 37.4% in the first quarter, owning over 1.25 million shares valued at approximately $84 million.
• Kemper Corporation announced a $500 million stock buyback plan, allowing it to reacquire up to 12.8% of its own shares, which indicates the board's belief that the stock is undervalued.
• The company reported earnings of $1.30 per share, missing estimates by $0.22, while revenue remained stable at $1.23 billion for the quarter.

AQR Capital Management LLC raised its stake in shares of Kemper Corporation (NYSE:KMPR - Free Report) by 37.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,258,844 shares of the insurance provider's stock after purchasing an additional 342,649 shares during the quarter. AQR Capital Management LLC owned 1.97% of Kemper worth $84,154,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. CX Institutional bought a new stake in Kemper in the first quarter valued at $38,000. UMB Bank n.a. boosted its stake in shares of 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 in the last quarter. CENTRAL TRUST Co bought a new stake in shares of Kemper in the 1st quarter worth about $44,000. Bayforest Capital Ltd bought a new stake in shares of Kemper in the 1st quarter worth about $44,000. Finally, True Wealth Design LLC increased its position in shares of Kemper by 197.5% during the 4th quarter. True Wealth Design LLC now owns 717 shares of the insurance provider's stock worth $48,000 after purchasing an additional 476 shares in the last quarter. 86.23% of the stock is currently owned by institutional investors.

Kemper Stock Up 1.1%

Shares of NYSE:KMPR traded up $0.60 during midday trading on Thursday, hitting $53.56. The stock had a trading volume of 702,662 shares, compared to its average volume of 755,010. The company has a quick ratio of 0.21, a current ratio of 0.21 and a debt-to-equity ratio of 0.32. The business's 50-day simple moving average is $56.89 and its 200-day simple moving average is $60.96. Kemper Corporation has a 12 month low of $45.02 and a 12 month high of $73.01. The company has a market cap of $3.36 billion, a P/E ratio of 10.09 and a beta of 1.30.

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

Kemper Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th were 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 was Monday, August 18th. Kemper's payout ratio is 24.11%.

Kemper declared that its Board of Directors has authorized a stock buyback plan on Tuesday, August 5th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the insurance provider to purchase up to 12.8% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

Several brokerages have weighed in on KMPR. Cowen reaffirmed a "buy" rating on shares of Kemper in a research note on Thursday, August 7th. Zacks Research upgraded shares of Kemper to a "strong sell" rating in a research report on Monday, August 11th. Piper Sandler reaffirmed an "underweight" rating and issued a $50.00 target price (down previously from $75.00) on shares of Kemper in a research note on Wednesday, August 6th. JMP Securities decreased their price objective on Kemper from $85.00 to $75.00 and set a "market outperform" rating for the company in a research note on Wednesday, August 6th. Finally, Wall Street Zen lowered shares of Kemper from a "strong-buy" rating to a "hold" rating in a report on Saturday, August 9th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $72.75.

Insider Activity at Kemper

In other Kemper news, Director Gerald Laderman purchased 3,000 shares of the business's stock in a transaction on Thursday, August 7th. The stock was acquired at an average price of $49.37 per share, with a total value of $148,110.00. Following the acquisition, the director directly owned 24,635 shares of the company's stock, valued at $1,216,229.95. This trade represents a 13.87% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Jason N. Gorevic acquired 2,000 shares of Kemper stock in a transaction 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 completion of the transaction, the director owned 22,072 shares of the company's stock, valued at approximately $1,084,618.08. This trade represents a 9.96% increase in their ownership of the stock. The disclosure for this purchase can be found here. 6.20% of the stock is owned by corporate insiders.

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.