Lord Abbett & CO. LLC Sells 33,003 Shares of Kemper Corporation (NYSE:KMPR)

Key Points

• Lord Abbett & CO. LLC has reduced its stake in Kemper Corporation by 4.8%, selling 33,003 shares during the first quarter and now holds 1.02% of the company worth approximately $43.6 million.
• Kemper recently declared a quarterly dividend of $0.32 per share and has authorized a stock buyback program of $500 million, allowing the company to buy up to 12.8% of its stock.
• Despite a reported EPS of $1.30 for the last quarter, Kemper missed analyst estimates by $0.22, while revenue increased by 8.5% compared to the previous year.

Lord Abbett & CO. LLC cut its stake in Kemper Corporation (NYSE:KMPR - Free Report) by 4.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 652,005 shares of the insurance provider's stock after selling 33,003 shares during the period. Lord Abbett & CO. LLC owned 1.02% of Kemper worth $43,587,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. LPL Financial LLC raised its position in shares of Kemper by 16.2% during the fourth quarter. LPL Financial LLC now owns 11,147 shares of the insurance provider's stock worth $741,000 after purchasing an additional 1,556 shares during the period. Cerity Partners LLC raised its position in shares of Kemper by 52.1% during the fourth quarter. Cerity Partners LLC now owns 20,228 shares of the insurance provider's stock worth $1,335,000 after purchasing an additional 6,929 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Kemper during the fourth quarter worth approximately $23,325,000. Treasurer of the State of North Carolina raised its position in shares of Kemper by 0.6% during the fourth quarter. Treasurer of the State of North Carolina now owns 26,630 shares of the insurance provider's stock worth $1,769,000 after purchasing an additional 160 shares during the period. Finally, Sterling Capital Management LLC raised its position in shares of Kemper by 52.0% during the fourth quarter. Sterling Capital Management LLC now owns 3,640 shares of the insurance provider's stock worth $242,000 after purchasing an additional 1,246 shares during the period. 86.23% of the stock is currently owned by institutional investors.

Kemper Stock Up 2.8%

Shares of NYSE:KMPR opened at $54.10 on Friday. The company has a market capitalization of $3.39 billion, a PE ratio of 10.19 and a beta of 1.27. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.21 and a quick ratio of 0.21. The business has a fifty day moving average price of $60.86 and a two-hundred day moving average price of $62.79. Kemper Corporation has a 1 year low of $45.02 and a 1 year high of $73.01.

Kemper (NYSE:KMPR - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The insurance provider reported $1.30 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.52 by ($0.22). The business 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 firm's revenue for the quarter was up 8.5% compared to the same quarter last year. During the same quarter last year, the company earned $1.42 EPS. Analysts forecast that Kemper Corporation will post 6.03 earnings per share for the current year.

Kemper Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th will be paid a dividend of $0.32 per share. The ex-dividend date is Monday, August 18th. This represents a $1.28 annualized dividend and a dividend yield of 2.4%. Kemper's dividend payout ratio is presently 24.11%.

Kemper declared that its board has authorized a stock repurchase program on Tuesday, August 5th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the insurance provider to reacquire up to 12.8% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's board believes its shares are undervalued.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Cowen reiterated a "buy" rating on shares of Kemper in a report on Thursday, August 7th. Piper Sandler reiterated an "underweight" rating and set a $50.00 price target (down previously from $75.00) on shares of Kemper in a report on Wednesday, August 6th. JMP Securities decreased their price target on Kemper from $85.00 to $75.00 and set a "market outperform" rating for the company in a report on Wednesday, August 6th. Finally, Wall Street Zen downgraded Kemper from a "strong-buy" rating to a "hold" rating in a report on Saturday, August 9th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $72.75.

Insider Transactions at Kemper

In other news, Director Gerald Laderman purchased 3,000 shares of the business's stock in a transaction dated Thursday, August 7th. The stock was bought at an average price of $49.37 per share, for a total transaction of $148,110.00. Following the purchase, the director owned 24,635 shares of the company's stock, valued at $1,216,229.95. The trade was a 13.87% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jason N. Gorevic purchased 2,000 shares of the business's stock in a transaction dated Thursday, August 7th. The shares were purchased at an average price of $49.14 per share, with a total value of $98,280.00. Following the purchase, the director directly owned 22,072 shares in the company, valued at $1,084,618.08. This trade represents a 9.96% increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 8,000 shares of company stock worth $432,845. 6.20% of the stock is owned by company 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.

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