Lord Abbett & CO. LLC Decreases Stock Position in Kemper Corporation $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 reduced its holdings in shares of Kemper Corporation (NYSE:KMPR - Free Report) by 4.8% during the 1st quarter, according to its most recent 13F filing with the 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 approximately 1.02% of Kemper worth $43,587,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. GAMMA Investing LLC boosted its stake in shares of Kemper by 87.0% during the first quarter. GAMMA Investing LLC now owns 1,337 shares of the insurance provider's stock worth $89,000 after buying an additional 622 shares during the period. Cerity Partners LLC increased its position in Kemper by 74.7% in 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 approximately $301,000. KBC Group NV lifted 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 worth $197,000 after acquiring an additional 369 shares during the period. Finally, Wealth Enhancement Advisory Services LLC lifted 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 worth $1,973,000 after acquiring an additional 4,258 shares during the period. 86.23% of the stock is currently owned by institutional investors and hedge funds.

Kemper Price Performance

KMPR stock traded down $0.0860 on Wednesday, reaching $53.7840. 783,633 shares of the company's stock were exchanged, compared to its average volume of 1,097,164. The stock has a fifty day moving average of $60.11 and a 200-day moving average of $62.41. The firm has a market cap of $3.37 billion, a PE ratio of 10.13 and a beta of 1.27. 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 Corporation has a twelve month low of $45.02 and a twelve month high of $73.01.

Kemper (NYSE:KMPR - Get Free Report) last released its earnings results on Tuesday, August 5th. The insurance provider reported $1.30 EPS for the quarter, missing analysts' consensus estimates of $1.52 by ($0.22). Kemper had a net margin of 7.18% and a return on equity of 14.39%. The business had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.23 billion. During the same period last year, the business posted $1.42 EPS. Kemper's revenue was up 8.5% compared to the same quarter last year. As a group, equities analysts predict that Kemper Corporation will post 6.03 EPS for the current fiscal year.

Kemper Announces Dividend

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

Kemper announced that its board has approved a share buyback program on Tuesday, August 5th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the insurance provider to purchase 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.

Analysts Set New Price Targets

KMPR has been the topic of a number of recent research reports. Piper Sandler reissued an "underweight" rating and issued a $50.00 target price (down previously from $75.00) on shares of Kemper in a report on Wednesday, August 6th. Zacks Research upgraded shares of Kemper to a "strong sell" rating in a research report on Monday, August 11th. Cowen reissued a "buy" rating on shares of Kemper in a research note on Thursday, August 7th. JMP Securities cut their price objective on shares of Kemper from $85.00 to $75.00 and set a "market outperform" rating for the company in a research report on Wednesday, August 6th. Finally, Wall Street Zen downgraded shares of Kemper from a "strong-buy" rating to a "hold" rating in a report on Saturday, August 9th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $72.75.

Insiders Place Their Bets

In related news, Director Jason N. Gorevic bought 2,000 shares of the company's stock in a transaction on Thursday, August 7th. The stock was bought at an average cost of $49.14 per share, with a total value of $98,280.00. Following the completion of the acquisition, the director owned 22,072 shares in the company, valued at approximately $1,084,618.08. This represents a 9.96% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Alberto J. Paracchini purchased 500 shares of Kemper stock in a transaction dated Tuesday, June 10th. The shares were bought at an average price of $61.71 per share, with a total value of $30,855.00. Following the completion of the transaction, the director owned 10,323 shares in the company, valued at approximately $637,032.33. This trade represents a 5.09% increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 8,000 shares of company stock worth $432,845. 6.20% of the stock is owned by company insiders.

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.