Kemper Corporation $KMPR Shares Newly Purchased by Bank of America Corp DE

Key Points

• Bank of America acquired 771,513 Kemper shares in the second quarter, valued at approximately $20.8 million and representing a 1.31% stake. Institutional investors collectively own 86.23% of the company.
• Analyst sentiment remains cautious: Kemper has an average rating of “Reduce” and a consensus price target of $43.25, with ratings split among Buy, Hold, and Sell recommendations.
• Kemper shares opened at $25.20, near the lower end of their 52-week range, after quarterly revenue fell 10.8% year over year. The company still beat earnings expectations and maintains a quarterly dividend of $0.32 per share, yielding about 5.1%.

Bank of America Corp DE acquired a new stake in Kemper Corporation (NYSE:KMPR - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 771,513 shares of the insurance provider's stock, valued at approximately $20,800,000. Bank of America Corp DE owned 1.31% of Kemper as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in KMPR. Caitong International Asset Management Co. Ltd boosted its stake in shares of Kemper by 24.6% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,969 shares of the insurance provider's stock worth $80,000 after acquiring an additional 389 shares in the last quarter. Huntington National Bank grew its holdings in Kemper by 187.1% in the fourth quarter. Huntington National Bank now owns 646 shares of the insurance provider's stock valued at $26,000 after purchasing an additional 421 shares during the last quarter. Rockefeller Capital Management L.P. increased its position in shares of Kemper by 616.7% in the fourth quarter. Rockefeller Capital Management L.P. now owns 946 shares of the insurance provider's stock valued at $38,000 after buying an additional 814 shares in the last quarter. Hantz Financial Services Inc. increased its position in shares of Kemper by 181.8% in the fourth quarter. Hantz Financial Services Inc. now owns 1,654 shares of the insurance provider's stock valued at $67,000 after buying an additional 1,067 shares in the last quarter. Finally, Pictet Asset Management Holding SA raised its stake in shares of Kemper by 14.5% during the 1st quarter. Pictet Asset Management Holding SA now owns 9,974 shares of the insurance provider's stock worth $305,000 after buying an additional 1,265 shares during the last quarter. Hedge funds and other institutional investors own 86.23% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on KMPR shares. Zacks Research upgraded shares of Kemper from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 18th. UBS Group dropped their price objective on shares of Kemper from $44.00 to $43.00 and set a "buy" rating for the company in a research note on Monday, August 10th. TD Cowen dropped their price objective on shares of Kemper from $81.00 to $42.00 and set a "buy" rating for the company in a research note on Thursday, August 27th. Wall Street Zen downgraded Kemper from a "hold" rating to a "sell" rating in a research report on Saturday, September 19th. Finally, Weiss Ratings lowered Kemper from a "sell (d+)" rating to a "sell (d)" rating in a research note on Thursday, August 6th. Two analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Reduce" and a consensus price target of $43.25.

Insider Activity at Kemper

In related news, Director Gerald Laderman purchased 4,000 shares of the business's stock in a transaction on Tuesday, August 11th. The shares were bought at an average price of $26.49 per share, with a total value of $105,960.00. Following the completion of the purchase, the director directly owned 33,365 shares in the company, valued at approximately $883,838.85. This trade represents a 13.62% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Thomas Evans purchased 1,000 shares of the firm's stock in a transaction on Tuesday, August 11th. The stock was bought at an average price of $26.53 per share, for a total transaction of $26,530.00. Following the acquisition, the executive vice president owned 91,629 shares in the company, valued at $2,430,917.37. The trade was a 1.10% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have bought a total of 14,000 shares of company stock valued at $367,880 over the last 90 days. 0.61% of the stock is currently owned by insiders.

Kemper Stock Performance

Shares of KMPR opened at $25.20 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.17 and a current ratio of 0.17. The company has a market capitalization of $1.49 billion, a price-to-earnings ratio of -3.00 and a beta of 1.04. The company's 50 day simple moving average is $27.73 and its 200 day simple moving average is $28.63. Kemper Corporation has a 1 year low of $22.69 and a 1 year high of $52.25.

Kemper (NYSE:KMPR - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The insurance provider reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.11. Kemper had a positive return on equity of 2.89% and a negative net margin of 10.84%.The company had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same period in the previous year, the firm posted $1.30 EPS. Kemper's revenue was down 10.8% on a year-over-year basis. On average, sell-side analysts predict that Kemper Corporation will post 2.02 EPS for the current year.

Kemper Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 4th. Investors of record on Friday, August 21st were given a dividend of $0.32 per share. The ex-dividend date of this dividend was Friday, August 21st. This represents a $1.28 annualized dividend and a yield of 5.1%. Kemper's dividend payout ratio is -15.24%.

Kemper Company Profile

Kemper Corporation is an insurance holding company headquartered in Chicago, Illinois. Through its operating subsidiaries, the company provides property and casualty insurance and life and health insurance products to individuals, families and businesses across the United States.

Kemper's property and casualty operations focus on personal automobile insurance, including coverage for drivers who may have difficulty obtaining insurance through standard carriers. The company also offers home, renters and other personal insurance products, as well as specialty insurance solutions distributed through independent agents and other channels.

Through Kemper Life, the company provides life insurance products designed primarily for individuals and families, including coverage intended to help with final expenses and other financial needs.

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