The proven Zacks Rank system focuses on earnings estimates and estimate revisions to find winning stocks. Nevertheless, we know that our readers all have their own perspectives, so we are always looking at the latest trends in value, growth, and momentum to find strong picks.

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.

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 value investors might notice is CNO Financial Group (CNO). CNO is currently sporting a Zacks Rank of #1 (Strong Buy), as well as a Value grade of A.

We should also highlight that CNO has a P/B ratio of 1.50. The P/B ratio is used to compare a stock's market value with its book value, which is defined as total assets minus total liabilities. This company's current P/B looks solid when compared to its industry's average P/B of 2.69. Over the past 12 months, CNO's P/B has been as high as 1.67 and as low as 1.15, with a median of 1.36.

Value investors also use the P/S ratio. The P/S ratio is is calculated as price divided by sales. This is a prefered metric because revenue can't really be manipulated, so sales are often a truer performance indicator. CNO has a P/S ratio of 0.84. This compares to its industry's average P/S of 1.02.

Finally, investors will want to recognize that CNO has a P/CF ratio of 8.53. 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. CNO's P/CF compares to its industry's average P/CF of 8.82. CNO's P/CF has been as high as 11.52 and as low as 4.95, with a median of 7.76, all within the past year.

Investors could also keep in mind Ping An Insurance Co. of China (PNGAY), an Insurance - Multi line stock with a Zacks Rank of # 2 (Buy) and Value grade of A.

Furthermore, Ping An Insurance Co. of China holds a P/B ratio of 0.57 and its industry's price-to-book ratio is 2.69. PNGAY's P/B has been as high as 0.62, as low as 0.40, with a median of 0.48 over the past 12 months.

These figures are just a handful of the metrics value investors tend to look at, but they help show that CNO Financial Group and Ping An Insurance Co. of China are likely being undervalued right now. Considering this, as well as the strength of its earnings outlook, CNO and PNGAY feels like a great value stock at the moment.