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 rely on traditional forms of analysis on key valuation metrics to find stocks that they believe are undervalued, leaving room for profits.

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 Arch Capital Group (ACGL). ACGL is currently sporting a Zacks Rank of #2 (Buy) and an A for Value. The stock is trading with P/E ratio of 16.19 right now. For comparison, its industry sports an average P/E of 30.64. ACGL's Forward P/E has been as high as 16.71 and as low as 9.53, with a median of 10.75, all within the past year.

Investors should also note that ACGL holds a PEG ratio of 1.62. This popular figure is similar to the widely-used P/E ratio, but the PEG ratio also considers a company's expected EPS growth rate. ACGL's PEG compares to its industry's average PEG of 3.51. Over the last 12 months, ACGL's PEG has been as high as 1.67 and as low as 0.95, with a median of 1.08.

Everest Re Group (RE) may be another strong Insurance - Property and Casualty stock to add to your shortlist. RE is a # 2 (Buy) stock with a Value grade of A.

Everest Re Group is trading at a forward earnings multiple of 8.84 at the moment, with a PEG ratio of 1.05. This compares to its industry's average P/E of 30.64 and average PEG ratio of 3.51.

RE's Forward P/E has been as high as 10.75 and as low as 7.61, with a median of 8.83. During the same time period, its PEG ratio has been as high as 1.08, as low as 0.91, with a median of 1.

Furthermore, Everest Re Group holds a P/B ratio of 1.14 and its industry's price-to-book ratio is 1.38. RE's P/B has been as high as 1.43, as low as 0.87, with a median of 1.15 over the past 12 months.

These are only a few of the key metrics included in Arch Capital Group and Everest Re Group strong Value grade, but they help show that the stocks are likely undervalued right now. When factoring in the strength of its earnings outlook, ACGL and RE look like an impressive value stock at the moment.

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