Kemper Corporation $KMPR Shares Sold by Millennium Management LLC

Key Points

• Millennium Management LLC has reduced its stake in Kemper Corporation by 14.3%, selling 96,309 shares, which leaves it with a total of 576,462 shares valued at approximately $38.54 million.
• Recent insider transactions include Director Gerald Laderman purchasing 3,000 shares and Director Jason N. Gorevic acquiring 2,000 shares, indicating increased confidence among company officials.
• Kemper Corporation reported a quarterly earnings miss, with an EPS of $1.30, falling short of the consensus estimate of $1.52, while also announcing a $500 million stock repurchase program aimed at enhancing shareholder value.

Millennium Management LLC trimmed its position in Kemper Corporation (NYSE:KMPR - Free Report) by 14.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 576,462 shares of the insurance provider's stock after selling 96,309 shares during the period. Millennium Management LLC owned about 0.90% of Kemper worth $38,536,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. CX Institutional acquired a new stake in Kemper in the 1st quarter worth about $38,000. UMB Bank n.a. boosted its holdings in Kemper by 104.4% in the 1st quarter. UMB Bank n.a. now owns 650 shares of the insurance provider's stock worth $43,000 after buying an additional 332 shares during the last quarter. CENTRAL TRUST Co acquired a new stake in Kemper in the 1st quarter worth about $44,000. Bayforest Capital Ltd acquired a new stake in Kemper in the 1st quarter worth about $44,000. Finally, True Wealth Design LLC boosted its holdings in Kemper by 197.5% in the 4th quarter. True Wealth Design LLC now owns 717 shares of the insurance provider's stock worth $48,000 after buying an additional 476 shares during the last quarter. 86.23% of the stock is currently owned by institutional investors and hedge funds.

Kemper Stock Down 0.1%

Shares of NYSE:KMPR traded down $0.04 during trading on Monday, hitting $53.37. The company's stock had a trading volume of 83,589 shares, compared to its average volume of 583,762. The business has a 50 day moving average price of $56.68 and a two-hundred day moving average price of $60.81. The company has a market capitalization of $3.35 billion, a PE ratio of 10.06 and a beta of 1.30. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.21 and a current ratio of 0.21. Kemper Corporation has a fifty-two week low of $45.02 and a fifty-two week high of $73.01.

Kemper (NYSE:KMPR - Get Free Report) last posted its quarterly 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 business had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.23 billion. Kemper had a return on equity of 14.39% and a net margin of 7.18%.The business's revenue was up 8.5% on a year-over-year basis. During the same quarter last year, the firm earned $1.42 EPS. As a group, research analysts expect that Kemper Corporation will post 6.03 EPS for the current fiscal year.

Kemper Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th were paid a $0.32 dividend. The ex-dividend date was Monday, August 18th. This represents a $1.28 annualized dividend and a dividend yield of 2.4%. Kemper's payout ratio is 24.11%.

Kemper declared that its Board of Directors has approved a share 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 buy up to 12.8% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's management believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on KMPR shares. Piper Sandler reissued an "underweight" rating and issued a $50.00 target price (down from $75.00) on shares of Kemper in a research note on Wednesday, August 6th. Cowen reissued a "buy" rating on shares of Kemper in a research note on Thursday, August 7th. Zacks Research raised shares of Kemper to a "strong sell" rating in a research note on Monday, August 11th. JMP Securities decreased their target price on shares of Kemper from $85.00 to $75.00 and set a "market outperform" rating on the stock 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 research note on Saturday, August 9th. One 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. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $72.75.

Insider Buying and Selling at Kemper

In other news, Director Gerald Laderman bought 3,000 shares of the stock in a transaction that occurred on Thursday, August 7th. The stock was purchased at an average price of $49.37 per share, for a total transaction of $148,110.00. Following the completion of the purchase, the director owned 24,635 shares in the company, valued at approximately $1,216,229.95. This trade represents a 13.87% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jason N. Gorevic bought 2,000 shares of the stock in a transaction that occurred on 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 owned 22,072 shares of the company's stock, valued at approximately $1,084,618.08. This represents a 9.96% increase in their position. The disclosure for this purchase can be found here. Insiders own 6.20% of the company's stock.

Kemper 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.