Kemper Corporation (KMPR · NYSE)

AM Best revised its outlook on Kemper and its subsidiaries to negative from stable in September, citing deteriorating property/casualty earnings, after the company posted a Q2 operating loss of $467.0M and net loss of $464.8M on revenue of $1.09B. Trailing results show a -10.8% profit margin, -19.7% ROE, and revenue down 9.1% year over year, though the quarter's EPS of $0.45 beat the $0.32 estimate and free cash flow reached $97.0M. The stock trades at $26.48, down 47.8% from its 52-week high and 14.4% below its 200-day moving average, against a market cap of $1.56B, a P/B of 0.712, and an analyst target of $36.33. Institutional activity has been mixed, with HSBC cutting its stake 64.2% and Algert Global selling 129,912 shares, while Legal & General, Ohio's pension system, and Lakewood Capital added positions.