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Mairs & Power Small Cap Fund Comments on United Fire Group
Posted by: Vera Yuan (IP Logged)
Date: July 31, 2014 03:22PM
Portfolio additions during the second quarter included United Fire Group (UFCS), a company based in Cedar Rapids, Iowa that writes property and casualty insurance, life insurance, and offers annuities. With a strong history of conservative underwriting, this steady performer grew its Return on Equity (ROE) 10% last year, while its stock traded at a discount to book value – considered a rare event at current valuations. Another aspect we like about this company is that its management goes out of its way to tell potential investors that, while they must report their results quarterly, they manage their company for the much longer term; music to our ears.
Guru Discussed: Bill Frels: Current Portfolio, Stock Picks
Stocks Discussed: UFCS,