While the proven Zacks Rank places an emphasis on earnings estimates and estimate revisions to find strong stocks, we also know that investors tend to develop their own individual strategies. With this in mind, we are always looking at value, growth, and momentum trends to discover great companies.

Of these, value investing is easily one of the most popular ways to find great stocks in any market environment. Value investors use a variety of methods, including tried-and-true valuation metrics, to find these stocks.

In addition to the Zacks Rank, investors looking for stocks with specific traits can utilize our Style Scores system. Of course, value investors will be most interested in the system's "Value" category. Stocks with "A" grades for Value and high Zacks Ranks are among the best value stocks available at any given moment.

One company to watch right now is Axa (AXAHY Quick QuoteAXAHY - Free Report) . AXAHY is currently sporting a Zacks Rank of #2 (Buy) and an A for Value. The stock is trading with a P/E ratio of 8.44, which compares to its industry's average of 9.87. Over the past 52 weeks, AXAHY's Forward P/E has been as high as 9.12 and as low as 6.47, with a median of 7.89.

Another valuation metric that we should highlight is AXAHY's P/B ratio of 1.27. Investors use the P/B ratio to look at a stock's market value versus its book value, which is defined as total assets minus total liabilities. AXAHY's current P/B looks attractive when compared to its industry's average P/B of 2.99. Within the past 52 weeks, AXAHY's P/B has been as high as 1.31 and as low as 0.61, with a median of 0.96.

If you're looking for another solid Insurance - Multi line value stock, take a look at Ping An Insurance Co. of China (PNGAY Quick QuotePNGAY - Free Report) . PNGAY is a # 2 (Buy) stock with a Value score of A.

Furthermore, Ping An Insurance Co. of China holds a P/B ratio of 0.76 and its industry's price-to-book ratio is 2.99. PNGAY's P/B has been as high as 0.91, as low as 0.43, with a median of 0.68 over the past 12 months.

These are only a few of the key metrics included in Axa and Ping An Insurance Co. of China strong Value grade, but they help show that the stocks are likely undervalued right now. When factoring in the strength of its earnings outlook, AXAHY and PNGAY look like an impressive value stock at the moment.