7,673 Shares in Kemper Corporation $KMPR Purchased by Magnetar Financial LLC

Key Points

• Magnetar Financial LLC invested approximately $513,000 in Kemper Corporation during the first quarter, acquiring 7,673 shares of the insurance provider's stock.
• Kemper Corporation's Board of Directors has authorized a stock repurchase program allowing the company to buy back $500 million worth of shares, indicating confidence in the stock's undervaluation.
• The company reported $1.30 earnings per share for the last quarter, missing the consensus estimate, and revealed a quarterly dividend of $0.32 per share, yielding 2.4%.

Magnetar Financial LLC purchased a new stake in Kemper Corporation (NYSE:KMPR - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,673 shares of the insurance provider's stock, valued at approximately $513,000.

A number of other hedge funds have also modified their holdings of KMPR. Integrated Wealth Concepts LLC purchased a new position in shares of Kemper during the fourth quarter worth approximately $234,000. Northern Trust Corp grew its position in shares of Kemper by 11.2% during the fourth quarter. Northern Trust Corp now owns 554,437 shares of the insurance provider's stock worth $36,837,000 after acquiring an additional 55,994 shares during the last quarter. Schonfeld Strategic Advisors LLC grew its position in shares of Kemper by 3.2% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 30,155 shares of the insurance provider's stock worth $2,003,000 after acquiring an additional 937 shares during the last quarter. Comerica Bank grew its position in shares of Kemper by 7.1% during the fourth quarter. Comerica Bank now owns 114,543 shares of the insurance provider's stock worth $7,610,000 after acquiring an additional 7,568 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV purchased a new position in shares of Kemper during the fourth quarter worth approximately $255,000. 86.23% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Gerald Laderman bought 3,000 shares of the firm's stock in a transaction on Thursday, August 7th. The shares were bought at an average cost of $49.37 per share, for a total transaction of $148,110.00. Following the transaction, the director owned 24,635 shares of the company's stock, valued at approximately $1,216,229.95. This trade represents a 13.87% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Alberto J. Paracchini bought 500 shares of the firm's stock in a transaction on Tuesday, June 10th. The shares were bought at an average price of $61.71 per share, for a total transaction of $30,855.00. Following the completion of the transaction, the director directly owned 10,323 shares in the company, valued at approximately $637,032.33. This represents a 5.09% increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 8,000 shares of company stock worth $432,845. Corporate insiders own 6.20% of the company's stock.

Kemper Price Performance

Shares of NYSE KMPR traded down $0.22 during trading on Friday, hitting $53.95. 1,012,246 shares of the company were exchanged, compared to its average volume of 826,568. The company has a market cap of $3.38 billion, a price-to-earnings ratio of 10.16 and a beta of 1.30. Kemper Corporation has a 1 year low of $45.02 and a 1 year high of $73.01. The firm's fifty day moving average price is $57.72 and its 200 day moving average price is $61.25. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.21 and a quick ratio of 0.21.

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

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

Kemper Announces Dividend

The business also recently announced 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 annualized dividend and a dividend yield of 2.4%. The ex-dividend date was Monday, August 18th. Kemper's payout ratio is presently 24.11%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on KMPR. Cowen restated a "buy" rating on shares of Kemper in a research report 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 reiterated an "underweight" rating and issued a $50.00 price objective (down from $75.00) on shares of Kemper in a research report on Wednesday, August 6th. JMP Securities lowered 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. Finally, Wall Street Zen lowered shares of Kemper from a "strong-buy" rating to a "hold" rating in a research report on Saturday, August 9th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average 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.