Stockholders’ Equity

6 Months Ended

Jun. 30, 2021

Stockholders' Equity Note [Abstract]

Stockholders' Equity

Shareholders’ Equity

Common Stock Repurchases

On May 6, 2020, Kemper’s Board of Directors authorized the repurchase of an additional $200.0 million of Kemper’s common stock, in addition to $133.3 million remaining under the August 6, 2014 authorization, bringing the remaining share repurchase authorization to approximately $333.3 million as of December 31, 2020. As of June 30, 2021, the remaining share repurchase authorization was $174.6 million under the repurchase program.

During the six months ended June 30, 2021 and 2020, Kemper repurchased and retired approximately 2,045,000 and 1,617,000 shares, respectively, of its common stock under its share repurchase authorization for an aggregate cost of $158.7 million and $110.4 million and an average cost per share of $77.63 and $68.29, respectively.

During the three months ended June 30, 2021 and 2020, Kemper repurchased and retired approximately 1,451,000 and 128,000 shares, respectively, of its common stock under its share repurchase authorization for an aggregate cost of $111.6 million and $9.2 million and an average cost per share of $76.92 and $71.85, respectively.

These purchases were made in the open market in accordance with applicable federal securities laws, including Rule 10b-18 and Rule 10b5-1 of the Securities Exchange Act of 1934.

Employee Stock Purchase Plan

During the six months ended June 30, 2021 and 2020, the Company issued 32,000 and 27,000 shares under the Kemper Employee Stock Purchase Plan (“ESPP”), respectively, at an average discounted price of $65.09 and $62.42 per share. Compensation costs charged against income were $0.4 million and $0.3 million for the six months ended June 30, 2021 and 2020, respectively.

During the three months ended June 30, 2021 and 2020, the Company issued 17,000 and 13,000 shares under the ESPP, respectively, at a discounted price of $62.82 and $61.64 per share. Compensation costs charged against income were $0.2 million and $0.2 million for the three months ended June 30, 2021 and 2020, respectively.