Kemper downgraded to Underweight from Overweight at Piper Sandler

Piper Sandler double downgraded Kemper (KMPR) to Underweight from Overweight with a price target of $50, down from $75. The company’s Q2 results were below expectations as policy-in-force growth for the private passenger auto business decelerated along with a material unfavorable reserve development in its commercial insurance business, the analyst tells investors in a research note. The firm reduced estimates and downgraded Kemper saying 2025 may be peak near-term earnings.