Latest news with #Kemper
Business Wire
2 days ago
- Business
- Business Wire
Kemper Announces $150 Million Accelerated Share Repurchase
CHICAGO--(BUSINESS WIRE)-- Kemper Corporation (NYSE: KMPR) announced today that it has entered into an accelerated share repurchase transaction ('ASR') under an agreement with Goldman Sachs & Co. LLC to repurchase $150 million of its outstanding common stock. The ASR will be completed under Kemper's previously announced $550 million share repurchase authorizations. "This accelerated share repurchase reflects our strong confidence in the business and our disciplined approach to creating shareholder value,' said Joseph P. Lacher, Jr., President and CEO. 'We believe our shares are undervalued, and this transaction represents a compelling use of capital. We remain focused on executing our balanced capital deployment strategy, utilizing resources to support long-term value creation." Under the ASR agreement, on August 14, 2025, Kemper will pay $150 million to Goldman Sachs and expects to receive an initial delivery of 2,279,203 shares of Kemper common stock, representing a significant majority of the shares of Kemper common stock it expects to repurchase under the ASR agreement. The total number of shares to be repurchased pursuant to the ASR agreement will be based on the volume-weighted average price of Kemper common stock on specified dates during the term of the ASR agreement, less a discount, and subject to customary adjustments pursuant to the terms and conditions of the ASR agreement. The transactions under the ASR agreement are expected to be completed within approximately three months. About Kemper The Kemper family of companies is one of the nation's leading specialized insurers. With approximately $13 billion in assets, Kemper is improving the world of insurance by providing affordable and easy-to-use personalized solutions to individuals, families and businesses through its Kemper Auto and Kemper Life brands. Kemper serves over 4.7 million policies, is represented by approximately 24,000 agents and brokers, and has approximately 7,500 associates dedicated to meeting the ever-changing needs of its customers. Learn more about Kemper.
Yahoo
06-08-2025
- Business
- Yahoo
Why Kemper (KMPR) Stock Is Trading Lower Today
What Happened? Shares of insurance holding company Kemper (NYSE:KMPR) fell 21.2% in the afternoon session after the company posted disappointing second-quarter financial results and received a subsequent analyst downgrade. The insurance provider reported adjusted earnings of $1.30 per share, which fell short of the $1.52 consensus estimate. The company attributed the earnings shortfall primarily to unfavorable developments in its commercial auto business. In response to the results, analysts at Piper Sandler downgraded the stock to "Underweight" from "Overweight" and slashed their price target to $50 from $75. The firm expressed concerns about Kemper's growth in policies and its underwriting profitability, suggesting that the company's near-term earnings may have peaked. The stock market overreacts to news, and big price drops can present good opportunities to buy high-quality stocks. Is now the time to buy Kemper? Access our full analysis report here, it's free. What Is The Market Telling Us Kemper's shares are not very volatile and have only had 2 moves greater than 5% over the last year. Moves this big are rare for Kemper and indicate this news significantly impacted the market's perception of the business. Kemper is down 28.6% since the beginning of the year, and at $46.70 per share, it is trading 35.2% below its 52-week high of $72.10 from November 2024. Investors who bought $1,000 worth of Kemper's shares 5 years ago would now be looking at an investment worth $560.85. Here at StockStory, we certainly understand the potential of thematic investing. Diverse winners from Microsoft (MSFT) to Alphabet (GOOG), Coca-Cola (KO) to Monster Beverage (MNST) could all have been identified as promising growth stories with a megatrend driving the growth. So, in that spirit, we've identified a relatively under-the-radar profitable growth stock benefiting from the rise of AI, available to you FREE via this link. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
05-08-2025
- Business
- Business Wire
Kemper Announces $500 Million Share Repurchase Authorization and Quarterly Dividend
CHICAGO--(BUSINESS WIRE)-- Kemper Corporation (NYSE: KMPR) announced today that its Board of Directors has approved a new share repurchase authorization, under which the Company can repurchase up to $500 million of its common stock. Repurchases may be made from time to time at the Company's discretion, subject to market conditions and other factors. In addition, Kemper also announced that its Board of Directors has declared a quarterly dividend of $0.32 per share. The dividend is payable on September 2, 2025, to Kemper's shareholders of record as of August 18, 2025. 'We remain committed to a disciplined capital strategy that balances both near- and long-term value creation,' said Joseph P. Lacher, Jr., President and CEO. 'The new share repurchase authorization and our continuing dividend demonstrate the strength of Kemper's financial position and our confidence in the underlying performance of the business.' About Kemper The Kemper family of companies is one of the nation's leading specialized insurers. With approximately $13 billion in assets, Kemper is improving the world of insurance by providing affordable and easy-to-use personalized solutions to individuals, families and businesses through its Kemper Auto and Kemper Life brands. Kemper serves over 4.7 million policies, is represented by approximately 24,000 agents and brokers, and has approximately 7,500 associates dedicated to meeting the ever-changing needs of its customers. Learn more about Kemper.
Business Wire
22-07-2025
- Business
- Business Wire
Kemper Announces Schedule for Second Quarter 2025 Earnings Release
CHICAGO--(BUSINESS WIRE)-- Kemper Corporation (NYSE: KMPR) today announced that after the markets close on Tuesday, August 5, Kemper intends to issue its second quarter 2025 earnings release, financial supplement, and Form 10-Q. Following their publication, these documents will be available in the investor section of Conference Call Details Kemper will host its conference call to discuss second quarter 2025 results on Tuesday, August 5, at 5:00 pm Eastern (4:00 pm Central). The conference call will be accessible via the internet and telephone at 800.549.8228, Conference ID 56442. To listen via webcast, register online at the investor section of at least 15 minutes before the webcast to install any necessary software. A replay of the webcast will be available online at the investor section of About Kemper The Kemper family of companies is one of the nation's leading specialized insurers. With approximately $12 billion in assets, Kemper is improving the world of insurance by providing affordable and easy-to-use personalized solutions to individuals, families and businesses through its Kemper Auto and Kemper Life brands. Kemper serves over 4.7 million policies, is represented by approximately 22,000 agents and brokers, and has approximately 7,400 associates dedicated to meeting the ever-changing needs of its customers. Learn more about Kemper at
Hamilton Spectator
19-07-2025
- Business
- Hamilton Spectator
Condo development in Hamilton stalls as market hits historic low
Builders of highrise condos are hitting the brakes on Hamilton projects as the residential development sector struggles through the worst market downturn in decades. After another dismal quarter, the horizon for condo towers — the kind of density Hamilton is banking on to breathe more life into downtown , meet growth targets and provide more housing — is hazier than ever. One builder that's taking a wait-and-see approach is Coletara Development, which has paused sales on a 23-storey condo tower planned for vacant land on the edge of downtown Coletara Development has paused sales on a 23-storey condo tower planned for vacant land on the edge of downtown. 'The project's all completed. We're ready to go from a planning perspective,' Paul Kemper, president of the Mississauga-based firm, told The Spectator. 'That's not our issue. Our issue is that the market has slowed down.' Just under half of the Apex Condos, which is planned for the southwest corner of King and Queen streets, have sold, Kemper said. 'We're just waiting for the market to come back and then we'll be moving forward with additional sales.' Typically, although the threshold can vary, high-density condo developers must reach at least 60 per cent in presales to line up financing from lenders before projects can advance. The residential market across the Greater Toronto and Hamilton Area (GTHA) — and especially within the high-density condo sector — has crashed under the weight of a combination of factors, including spiked interest rates, escalating construction costs and higher unit prices. Kemper points out interest rates have come down, but consumer confidence hasn't yet rebounded during a wounded economy (most recently battered by U.S. tariffs). Our issue is that the market has slowed down. 'The reality is that because the economy is going poorly, there is just not the disposable income that people have to buy homes, and the homes are at all-time-high prices, so it's hard for the consumer. We recognize that.' The 'only variable that we can control' to tame prices is decreasing the size of units, but 'they have to be livable at the end of the day,' Kemper said. Coletara is no stranger to Hamilton, having built a 24-storey residential building at the former All Saints Anglican Church site at King and Queen, just north of the Apex property, a few years ago. And as his firm watches the market to resume sales, it has three other high-density projects in the queue for downtown that it wants to move on, Kemper said. 'We haven't moved them into sales yet because we're waiting for Apex to complete.' Other highrise developers with Hamilton projects are also taking a hard look at the cratering condo market. Slate Asset Management has planned three buildings of 27, 14 and eight storeys, with nearly 800 units between them, at the shuttered Corktown Plaza off John Street South. Slate Asset Management has planned three buildings of 27, 14 and eight storeys, with nearly 800 units between them, at the shuttered Corktown Plaza off John Street South. But 'in light of changing market conditions for condos sales,' Slate has 'proposed an amendment' to buyers of the first tower that would 'extend our construction financing condition timeline by one year,' a company spokesperson said via email. The only change for buyers who accepted the proposal is the extended timeline, but full deposits with interest were refunded to those who wanted out, Slate noted. 'We remain committed to finding ways to move forward with the project, and we are working hard to realize our vision for this community.' Real estate research firm Urbanation's second-quarter analysis of the GTHA new condo market tallied 502 sales, which extended a 30-year low for the sector. Second-quarter sales were down 10 per cent from the first and dipped 69 per cent year-over-year. This second quarter was 91 per cent below the 10-year average. Nobody wants vacant parcels. Unsold units are piling up as GTHA developers pause condo projects with only three launching presales on 891 units in the second quarter. Since the start of 2024 in the GTHA, 21 projects (4,412 units) have been cancelled. Of those, Urbanation noted, nine are being converted to rentals, an emerging trend as condo developers pivot from sales-dependent financing. Meanwhile, construction starts (essentially when foundations are poured) continue to lag from previous years. Across all housing types, Hamilton had 1,481 starts in 2024, a stark contrast from 3,347 in 2023 and 3,352 in 2022, according to Canada Mortgage and Housing Corporation (CMHC) data. Coletara Development has paused sales on a 23-storey condo tower planned for vacant land on the edge of downtown. The downturn has interrupted Hamilton's once-surging condo market, says Pauline Lierman, vice-president of market research for Zonda Urban, a real-estate research firm. That's disappointing, says Lierman, a McMaster University graduate who says she was looking forward to seeing planned residential-commercial development at Pier 8 , a city partnership with private builders, hit the market. 'That has kind of been swept under the rug.' In April 2024, Waterfront Shores, the consortium behind the project — which calls for 1,645 residential units, including a 45-storey tower — told the city 'builder threshold profit' for the phased development's first two blocks had 'not been met.' Lierman says it became 'very easy to churn out towers' with investors willing to buy units, but now amid the severe slowdown, developers have resorted to 'lowball pricing' to get past the financing hurdle. Developers might opt to 'shelve' projects and 'rethink' their products, including opting for smaller buildings or shifting to rental, Lierman said. That last option would be a good thing, Coun. Cameron Kroetsch suggests. We definitely need more rental stock downtown. 'We definitely need more rental stock downtown,' said Kroetsch, noting nearly 80 per cent of those who live in the core are renters. The condo crunch overlaps with a dispute between highrise developers and Philpott Memorial Church over the sale of the congregation's York Boulevard church. The cited sticking point has been potential heritage protection for the 124-year-old church, a discussion that sparked concerns from Kroetsch about housing not materializing for years on the site should the church be razed. 'If you're going to tear it down, it has to be replaced with housing.' Representatives of development partners Empire Communities and Hamilton Coliseum Place didn't respond to The Spectator's requests for comment. With more than 90 per cent of housing in private ownership, it's 'beholden' to market dynamics, said Coun. Maureen Wilson, whose ward includes the Apex Condos. In such a landscape, local governments are limited in what they can do, but 'nobody wants vacant parcels' of land, Wilson said. 'We know that people, density, adds to vitality, adds to economic exchange, adds to us enjoying and having more and different neighbours.' As the market bottoms out, the residential construction sector has pressed the city for breaks on development charges, which municipalities use to pay for growth-related infrastructure. Finance staff are examining potential relief but have emphasized foregone revenue must be recouped through property taxes and pointed to the need for senior levels of government to backstop any discounts. Cranes in the sky are for projects that got underway a few years ago , but now highrise residential development is at a grim crossroads, says Mike Collins-Williams, CEO of the West End Home Builders' Association. 'Everyone in the industry is hopeful that there will be a turnaround, but I think with each passing month, there's a deeper understanding that this is a seismic shock that is going to take potentially years to navigate our way out of.'
