Here at Zacks, we focus on our proven ranking system, which places an emphasis on earnings estimates and estimate revisions, to find winning stocks. But we also understand that investors develop their own strategies, so we are constantly looking at the latest trends in value, growth, and momentum to find strong companies for our readers.

Of these, perhaps no stock market trend is more popular than value investing, which is a strategy that has proven to be successful in all sorts of market environments. Value investors use tried-and-true metrics and fundamental analysis to find companies that they believe are undervalued at their current share price levels.

Zacks has developed the innovative Style Scores system to highlight stocks with specific traits. For example, value investors will be interested in stocks with great grades in the "Value" category. When paired with a high Zacks Rank, "A" grades in the Value category are among the strongest value stocks on the market today.

One company to watch right now is Reinsurance Group of America (RGA Quick QuoteRGA - Free Report) . RGA is currently sporting a Zacks Rank of #2 (Buy), as well as an A grade for Value.

Investors should also recognize that RGA has a P/B ratio of 1.31. 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. This stock's P/B looks solid versus its industry's average P/B of 1.75. Over the past year, RGA's P/B has been as high as 2.55 and as low as 1.14, with a median of 1.24.

Value investors also use the P/S ratio. The P/S ratio is is calculated as price divided by sales. Some people prefer this metric because sales are harder to manipulate on an income statement. This means it could be a truer performance indicator. RGA has a P/S ratio of 0.6. This compares to its industry's average P/S of 1.09.

Finally, our model also underscores that RGA has a P/CF ratio of 9.72. This data point considers a firm's operating cash flow and is frequently used to find companies that are undervalued when considering their solid cash outlook. This company's current P/CF looks solid when compared to its industry's average P/CF of 10.37. Over the past 52 weeks, RGA's P/CF has been as high as 25.76 and as low as 8.57, with a median of 13.79.

These are just a handful of the figures considered in Reinsurance Group of America's great Value grade. Still, they help show that the stock is likely being undervalued at the moment. Add this to the strength of its earnings outlook, and we can clearly see that RGA is an impressive value stock right now.