Overview
Kemper Q2 net income declines to $72.6 mln from $75.4 mln yr/yr
Adjusted consolidated net operating income falls to $84.1 mln from $91.7 mln yr/yr
Co repurchased $80 mln of stock, maintaining strong liquidity position
Outlook
Kemper highlights strong balance sheet and liquidity for financial flexibility
Company confident in competitive advantages driving profitable growth
Result Drivers
SPECIALTY P&C - Segment's adjusted net operating income fell due to higher underlying combined ratio and adverse prior year development
LIFE INSURANCE - Segment's adjusted net operating income improved, driven by increased net investment income
RATE INCREASES - Specialty P&C earned premiums rose due to rate increases and higher business volumes
Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 EPS
$1.12
Q2 Net Income
$72.60 mln
Q2 Adjusted Consolidated Net Operating Income
$84.10 mln
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the property & casualty insurance peer group is "buy"
Wall Street's median 12-month price target for Kemper Corp is $82.00, about 25.7% above its August 4 closing price of $60.91
The stock recently traded at 9 times the next 12-month earnings vs. a P/E of 9 three months ago
Press Release: ID:nBw4NhkBGa
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)