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Kemper Q3 revenue falls but beats analyst expectations

By Reuters News


Overview

  • U.S. specialized insurer's Q3 revenue fell but beat analyst expectations

  • Adjusted consolidated net operating income more than doubled year-over-year

  • Personal Auto profitability improved, reflecting cumulative benefits of rate and non-rate actions


Outlook

  • Kemper did not provide specific financial guidance for future quarters or the full year in its press release


Result Drivers

  • PERSONAL AUTO ACTIONS - Co said improved Personal Auto profitability was due to cumulative effects of rate and non-rate actions

  • FAVORABLE PRIOR-YEAR DEVELOPMENT - Specialty Personal Automobile results benefited from favorable prior year development, per co

  • COMMERCIAL AUTO - Specialty Commercial Automobile results improved due to lower adverse prior year development, partially offset by higher claim severity


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Revenue

Beat

$1.09 bln

$1.03 bln (5 Analysts)


Analyst Coverage

  • The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 2 "strong buy" or "buy", 3 "hold" and 2 "sell" or "strong sell"

  • The average consensus recommendation for the property & casualty insurance peer group is "hold"

  • Wall Street's median 12-month price target for Kemper Corporation is $42.00, about 25.8% above its November 6 closing price of $33.39

  • The stock recently traded at 9 times the next 12-month earnings vs. a P/E of 8 three months ago


Reuters Recommended Reads

  • Nov 6 - NI Holdings Q3 gross premiums written fall 7% on Non-Standard Auto segment exit

  • Nov 9 - Hannover Re maintains €2.7 billion profit target as P&C underwriting outperforms

  • Nov 9 - Security National Financial's Q3 after-tax earnings fall 39% due to challenging market conditions


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(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.)

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